As of today, SMM lead ingot social inventory has exceeded 60,000 tons

2026-02-27 21:53:12

According to SMM, as of February 24, the total social inventory of lead ingots across five regions has surpassed 60,000 tons, reaching a five-month high. During the Spring Festival, due to varying holiday schedules of upstream and downstream companies, lead-acid battery manufacturers took more time off than smelting companies, leading to a decline in lead consumption and an accumulation of lead ingot inventories during the holiday period. Additionally, today is the delivery date for the Shanghai Lead 2602 contract, with traders moving stocks and transferring warehouses, turning hidden inventories into visible inventories. Since this Spring Festival, the accumulation of lead ingots has doubled compared to previous years. Moving forward, attention should be paid to the resumption of downstream enterprises and the recovery of lead consumption. (SMM)

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