As of March 23, lead ingots' social inventory in China's major markets decreased by 8,400 tonnes from Monday and 14,200 tonnes from last Thursday to 40,200 tonnes, according to Mysteel's survey.
Data Source: Mysteel
China Lead Ingots Social Inventory in Major Markets (kt) |
|||
District |
2023/3/23 |
Change |
Change |
Shanghai |
12.8 |
-1.1 |
-1.1 |
Guangdong |
5.6 |
-0.2 |
-0.3 |
Zhejiang |
10.4 |
-1.3 |
-7.3 |
Tianjin |
5.8 |
-5.5 |
-5.5 |
Jiangsu |
5.6 |
-0.3 |
0 |
Data Source: Mysteel |
Lead prices fluctuated this week. Lead ingot supply in some markets was tight, while downstream battery factories pressed prices down to purchase on demand. In addition, lead ingots were also exported, so the social inventory decreased significantly this week.
Looking forward to next week, primary lead smelters are expected to produce normally, and downstream consumption shows signs of weakening. The social inventory may increase slightly next week.
Written by Durand Du, duxiaoyu@mysteel.com
Edited by Paula Xu, xuzhongping@mysteel.com