China: SHFE lead stocks fall by 61% w-o-w amid new rule

SHFE lead stocks fell by 60.9% w-o-w, dropping from 60,617 t to 23,679 t. This significant decrease is attributed to a new rule by the SHFE, which requires lead to have a lower bismuth content (25 PPM or less, down from 40 PPM). Implemented in response to stricter emission standards for Chinese battery makers, this change has made it harder to source compliant lead, tightening local supplies.