According to Shree Metal Prices study, the entire social inventories of lead ingots in Shanghai, Guangdong, Zhejiang, Jiangsu, and Tianjin as of May 15 was 36,100 mt, up 1,900 mt from May 12 & 8,600 mt from May 8.
According to the research, the delivery of the SHFE lead contracts coincided with the lead ingots progressively arriving in the SHFE warehouses, particularly those in Shanghai, Zhejiang, and Tianjin.
The social inventory expanded as a result. Additionally, the lead-acid battery industry’s off-season got worse and downstream businesses were less inclined to make purchases.
However, as secondary leads smelters can expand production, the inventory of lead ingots could rise due to the excess. However, some leading brands of deliverables intend to do maintenance.
Which could reduce the supply surplus. Thus, it is anticipated that after growing, the social inventories of lead ingots will decline.