As of March 16, lead ingots' social inventory in China's major markets decreased by 1,100 tonnes from Monday and 800 tonnes from last Thursday to 54,400 tonnes, according to Mysteel's survey.
Data Source: Mysteel
China Lead Ingots Social Inventory in Major Markets (kt) |
|||
District |
2023/3/16 |
Change |
Change |
Shanghai |
13.9 |
0.0 |
-0.5 |
Guangdong |
5.9 |
-0.3 |
0.3 |
Zhejiang |
17.7 |
-0.6 |
0.4 |
Tianjin |
11.3 |
-0.2 |
0.7 |
Jiangsu |
5.6 |
0.0 |
-1.7 |
Data Source: Mysteel |
Lead prices rose this week. Spot supply was tight, while downstream battery factories continued to receive warehouse receipts for stock, so the inventory decreased slightly this week.
Looking forward to next week, the primary lead smelters are expected to produce normally, and downstream enterprises will purchase on demand. In addition, the delivery day has passed. The social inventory may decrease next week.
Written by Durand Du, duxiaoyu@mysteel.com
Edited by Paula Xu, xuzhongping@mysteel.com