Overall, the total inventory in Shanghai, Guangdong and Tianjin gained 2,600 mt, and that across seven major markets in China was up 3,400 mt.
According to SMM research, as of December 5, the social inventory of lead ingots across five provinces reached 45,000 mt, a decrease of 1,400 mt from last Friday (December 2) and a decrease of 5,300 from last Monday (November 28).
DCE iron ore futures rose by 2.45% today, the main contract closed 795.5. The traders' willingness to ship is more .The steel mills are active to purchase.
Shanghai nonferrous metals closed all with gains as the market confidence was boosted by the signs of relaxing pandemic control measures in China.
Recently, the battery scrap prices rose steadily due to the tight supply as the replacement demand of lead-acid battery declined.
SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and are committed to providing in-depth, professional, as well as timely reports and research.
Besides, over 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefing, the monthly report China Steel PMI-Monthly, a survey of steel downstream.