MYMETAL: China’s lead stocks slip 9% on week
Nov 26, 2019 18:00
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Lead ingot stocks at traders and SHFE warehouses in six major markets across China decreased by 3,300 tonnes or 9% on week to 33,250 tonnes as of November 25, mainly as the rather low levels of lead prices had moderately stimulated consumers’ buying interest, market sources told Mymetal on Tuesday. Mymetal is Mysteel’s nonferrous market data collection arm.
Domestic lead prices fell further over November 18-22, with China’s national average benchmark price for 1# lead ingot (grading at least 99.994%) declining by Yuan 75/tonne ($10.7/t) on week to Yuan 15,725/t including the 13% VAT as of November 22, after hitting Yuan 15,600/t on November 21, a new low