Suppliers Concentrate on Transferring Inventory to Delivery Warehouses, Social Inventory of Lead Ingots Rises to a 3-Month High [SMM Lead Ingot Social Inventory]

Feb 27, 2025, at 12:21 pm

[SMM Lead Ingot Social Inventory: Suppliers Concentrate on Transferring to Delivery Warehouses, Lead Ingot Social Inventory Rises to a 3-Month High] Recently, with the resolution of factors such as maintenance, the supply of primary lead and secondary lead has increased, while the demand in the lead-acid battery sector has shown relatively small marginal changes. The spot market has seen a relatively ample supply of circulating goods, with spot cargo generally traded at a discount...

As of February 27, according to SMM, the total social inventory of lead ingots in five regions tracked by SMM reached 63,100 mt, an increase of 3,500 mt compared to February 20 and an increase of 3,100 mt compared to February 24. Recently, with the resolution of factors such as maintenance, the supply of primary lead and secondary lead has increased, while the demand in the lead-acid battery sector has shown relatively small marginal changes. Spot market circulation has been relatively ample, with spot transactions generally conducted at discounts. Due to the significant spread between futures and spot prices, suppliers have concentrated on picking up goods for transfer to delivery warehouses. Meanwhile, smelters have shifted in-plant inventory to social warehouses, leading to another rise in social inventory, which has reached a three-month high. Furthermore, entering March, with the Chinese New Year holiday factors eliminated, the lead market's supply and demand are expected to increase simultaneously. Among them, the new capacity and resumed capacity of secondary lead are expected to gradually ramp up, potentially making it difficult to reverse the inventory buildup trend for lead ingots.

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