Lead Market Report June 2013

Catalog
Introduction 4
1. Financial News Overview 4
1.1 International financial news overview 4
1.1.1 Futures prices of crude oil pushed up by multiple positive news 4
1.1.2 US dollar index bottoms out 5
1.1.3 Liquidity crisis hits weak nonferrous metals market 6
1.2 Chinese Financial News Overview 7
1.2.Asian Metal Copyright74% YOY in May 2013 27 5.Asian Metal Copyright1 CPI up 2.Asian Metal Copyright4 Large secondary lead smelters increase the operation rate in June 21 5.Asian Metal Copyright1% PPI up 2.9% YOY in May 7
1.2.Asian Metal Copyright1 Lead ingot export declines by 55.Asian Metal Copyright2 PMI of China’s manufacturing industry reduces to 50.1% in June, record-low in recent four months 7
2. International Lead Market Review 8
2.1 Lead futures weakens on the LME in June 8
3. Chinese lead market review 10
3.1 Chinese lead concentrate supply remains tight, trading slows down 10
3.2 Chinese lead ingot prices linger at low level in June 11
3.3 Secondary lead price revive with little power 12
3.4 The demand of recycled lead battery market was firm 15
3.5 The demand of lead acid battery revives slowly 16
4. Production Data 18
4.1 ILZSG: Global Lead Market in 38kt Deficit Jan-Apr 2013 18
4.2 Lead production in China 18
4.2.Asian Metal Copyright Company News 29 6.Asian Metal Copyright1 China lead concentrate production up by 5.7% MOM in May 2013 19
4.2.Asian Metal Copyright48% MOM in May 2013 27 5.Asian Metal Copyright2 China’s lead ingot production increases by 7.1% YOY in May 2013 19
4.2.Asian Metal Copyright1 China lead concentrate production up by 5.Asian Metal Copyright3 Chinese lead smelters operation rate declines to 49.6% in June 2013 20
4.4 Large secondary lead smelters increase the operation rate in June 21
5. Lead import and export data in China 23
5.1 Lead import and export data in China by country: 23
5.2 Analysis on lead import & export data 26
5.2.Asian Metal Copyright3 Secondary lead price revive with little power 12 3.Asian Metal Copyright1 Lead ingot export declines by 55.48% MOM in May 2013 27
5.2.2 China’s lead ore/concentrate import declines by 27.74% YOY in May 2013 27
5.3 Top ten Chinese lead ore/concentrate importers May 2013 28
6. Company News 29
6.1 Xinling Lead resumes production 29
6.2 Rongda Mining halts production on fire accident 29
7．Related Industry Development 29
7.1 China automobile sales and production declines in May 29
8. Market Outlook 30



Graph 1: Crude oil prices in US in June 2013 5
Graph 2: USD index chart 6
Graph 3: Chinese CPI and PPI chart during 2011-2013 7
Graph 4: Chinese PMI chart during 2011-2013 8
Graph 5：The price graph of lead futures on the LME in June 2013 9
Graph 6：Lead ingot inventory in the warehouses of LME in June 2013 10
Graph 7: Lead concentrate 60%min prices in the Chinese spot market in June 2013 11
Graph 8: Lead ingot 99.994%min prices in the Chinese spot market in June 2013 12
Graph 9: Secondary Lead ingot 98%min EX-VAT prices in the Chinese spot market in June 2013 13
Graph 10: Secondary lead ingot 98%min prices in the Chinese spot market in June 2013 14
Graph 11: Secondary lead ingot 99.97%min EX-VAT prices in the Chinese spot market in June 2013 14
Graph 12: Secondary Lead ingot 99.97%min EX-VAT prices in the Chinese spot market in June 2013 15
Graph 13: Recycled start-type battery EX-VAT prices in the Chinese spot market in June 2013 15
Graph 14: Recycled deep cycle battery EX-VAT prices in the Chinese spot market in June 2013 16
Graph 15：The processing charge of deep-cycle lead acid battery polar plate in Chinese spot market in June 2013 17
Graph 16：The processing charge of start-type lead acid battery polar plate in Chinese spot market in June 2013 17
Graph 17: World Refined Lead Supply and Usage 2008 - 2013 18
Graph 19: China’s lead import and export data in May 2013 26
Graph 20: Top ten Chinese lead ore/concentrate importers May 2013 29

.Asian Metal Copyright1% YOY in May 2013 19 4Asian Metal Copyright