SMM

According to an SMM survey, as of December 9, the total social inventory of lead ingots in five regions surveyed by SMM reached 56,100 mt, a decrease of 900 mt compared to December 2 and nearly 1,000 mt compared to December 5.

According to the survey, recent days have seen frequent fog and haze warnings in some regions. From December 5 to 7, Anhui issued orange or red fog warnings, leading to road closures on some highways and slowing down vehicle transportation. On December 8, Anhui issued an orange haze warning. As a result, some secondary lead smelting enterprises suspended shipments or experienced extended transportation times for scrap and lead ingots. Meanwhile, downstream just-in-time procurement slightly shifted to warehouse sources, causing a slight decrease in lead ingot social inventory. Additionally, the delivery of the SHFE lead 2412 contract approaches. In the latter half of the week, attention should be paid to the possibility of suppliers transferring inventory for delivery, as well as to when the haze warnings will be lifted.