SHANGHAI, Oct 24 (SMM) – The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased by 2,200 mt from October 21 and fell 5,200 mt from October 17 to 62,300 mt as of October 21.
According to research, the peak season of lead-acid battery market extended, hence the large-sized enterprises had better orders. In light of the decline in lead prices, downstream enterprises purchased as needed, thus the inventory of primary lead and secondary lead smelters was low. Some downstream consumers continued to purchase from warehouses in Jiangsu, Zhejiang and Shanghai. Therefore, the social inventory continued to decline. In addition, the supply of primary lead and secondary lead further recovered this week. As the signing of November orders has started, downstream enterprises have more choices, hence the subsequent decline in social inventory may slow down.
