As of December 26, the in-factory inventory of primary lead major delivery brands was 7,500 mt, down 2,500 mt WoW.
Recently, due to the year-end period, primary lead smelters and traders actively sold off goods to clear inventory, with spot transactions shifting from premiums to discounts. Quotations for cargoes self-picked up from production sites in mainstream producing areas dropped from a premium of 50 yuan/mt against the SMM #1 lead average price ex-factory at the beginning of the week to a discount of 50-0 yuan/mt against the SMM #1 lead average price ex-factory, and smelters' in-factory inventory also declined accordingly. Next week remains within the year-end period, funding problems will continue to affect spot transactions, and some downstream enterprises plan to take holidays during New Year's Day, posing a risk of inventory buildup in smelters' in-factory inventory subsequently.
