According to reports, as of November 27, the in-factory inventory of primary lead delivery brands was 9,100 mt, an increase of 3,500 mt WoW.
This week, maintenance at primary lead smelters increased, with a majority occurring at delivery brand enterprises, leading to a relative tightening of lead ingot supply. Concurrently, lead prices continued to decline, breaking through the 17,000 yuan mark. Smelters generally held back sales at low prices, either suspending quotations or holding prices firm with high premiums for shipments, at a premium of 50-100 yuan/mt against the SMM #1 lead average price ex-factory. Although downstream enterprises intended to stockpile at low prices, the continuous decline in lead prices led most to adopt a wait-and-see attitude, with poor acceptance of high-premium lead ingots, resulting in a subsequent rise in the in-factory inventory of primary lead smelters.
