Barring copper and zinc, base metal stocks at Shanghai Futures Exchange-approved warehouses fell in the week to Friday September 6, with the biggest percentage fall in lead stocks, which tumbled by 16.3% or 5,081 tonnes to 25,998 tonnes.
The largest outflow in lead inventories was registered at Zongchu Wuxi’s warehouse in Jiangsu, which delivered out 2,863 tonnes leaving 8,641 tonnes of material, according to SHFE’s latest inventory report.
Deliveries out of lead have increased over the past week due to rising demand for their use in batteries, an analyst told Fastmarkets. Meanwhile, some consumers are stocking up on lead…