Refined Lead Inventory Bounce Back; Weak Downstream Supports Social Inventories

  • Oct 19, 2019 AEDT
  • Team Kalkine

Refined lead social inventories break the downfall trend in China post witnessing the fall for ten consecutive weeks.

  • The transfer of stockpiles from smelter to the social warehouses propelled the inventory; however, the transfer represented slower consumption across the downstream chain.
  • Lead inventories across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin, witnessed a rise of over ~2,800 metric tonnes (as on 18 October 2019) to stand over ~20,900 metric tonnes.
  • Lead ingot stocks at primary smelters rose to ~18,500 metric tonnes, as the downstream market remained bearish.

 

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