As of December 1, lead ingots' social inventory in China's major markets decreased by 4,900 tonnes from Monday and 4,800 tonnes from last Thursday to 38,700 tonnes, according to Mysteel's survey.
Data Source: Mysteel
|
China Lead Ingots Social Inventory in Major Markets (kt) |
||||
|
District |
2022/12/2 |
Change 12.02 vs.11.28 |
Change 12.02 vs. 11.24 |
Remark |
|
Shanghai |
10.8 |
0.0 |
0.0 |
Inventory changed a little on low transactions. |
|
Guangdong |
7.1 |
0.1 |
-0.2 |
Downstream enterprises were less motivated to purchase at high lead prices. |
|
Zhejiang |
5.5 |
-5.5 |
-5.5 |
Caused by battery factories accepting warehouse receipts and using the delayed point price to reserve goods. |
|
Tianjin |
10.2 |
0.0 |
0.5 |
/ |
|
Jiangsu |
5.1 |
0.5 |
0.4 |
/ |
|
Data Source: Mysteel |
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On the whole, lead futures prices fluctuated and rose this week. Some small and medium-sized battery plants were in a wait-and-see mood. They were not very active in making inquiries and only replenished inventory according to rigid demand. However, large battery plants used delayed point prices to store raw materials for winter, so lead ingots inventory continued to decrease this week.
Looking forward to next week, on the supply side, tight delivery of scattered orders continues in some regions. While on the consumption side, enterprises keep seeking low prices to purchase, and lead ingots continue to be exported. Thus, it is expected that lead ingots' social inventory will decrease further next week.
Written by Durand Du, duxiaoyu@mysteel.com
Edited by Paula Xu, xuzhongping@mysteel.com