Lead Market Report April 2012

Catalog
Introduction 4
1．Financial overview 4
1.1 CPI declines to 3.4% in April in China 4
1.2 PMI continues to rise with declining growth rate in April 5
1.3 Industrial enterprise profits amounted to RMB1044.Asian Metal Copyright3 Secondary lead price decreased with the weak demand 12 3.Asian Metal Copyright9 billion in Q1, down by 1.3% YoY 6
2. International market review 7
2.1 Global manufacturing industry index for April 7
2.2 Global crude oil price fell with fluctuation 8
2.3 Us economy slowly recover with USD index slightly falling 9
2.4 Gold price slightly fluctuates in April 10
3. Chinese lead market review 10
3.1 Chinese lead concentrate market stable 10
3.2 Lead ingot prices fluctuate in a narrow range in the Chinese spot market 11
3.3 Secondary lead price decreased with the weak demand 12
3.4 Recycled lead battery market operated slowly in April 15
3.5 The deals from lead acid battery market continues reducing 16
4. Production Data 17
4.1 Lead Markets In Surplus Of 19000 Tons in Jan-Feb 2012: ILZSG 17
4.2 Lead ingot production in China 18
4.2.Asian Metal Copyright1 Zhuzhou Smelter’s lead smelter halts production for maintenance in April 31 6.Asian Metal Copyright1 China lead concentrate production up by 34.91% MOM in March 2012 18
4.2.Asian Metal Copyright2 China lead concentrate import declines by 11.Asian Metal Copyright2 China refined lead production up by 12.3% MOM in March 2012 19
4.3 Chinese major lead smelters’ production rate increases in April 19
4.5 The operating rates of the biggest secondary lead smelters in China in April 21
5. Lead import and export data in China 21
5.1 Lead import and export data in China by country: 21
5.2 Analysis on lead import & export data 23
5.2.Asian Metal Copyright2 China refined lead production up by 12.Asian Metal Copyright1 China’s refined lead export down by 87.34% in Q1 23
5.2.Asian Metal Copyright1 CPI declines to 3.Asian Metal Copyright2 China lead concentrate import declines by 11.72% MOM in March 2012 24
5.3 Top ten Chinese lead ore/concentrate importers March 2012 25
5.4 China lead ore/concentrate import data by company in March 2012 25
5.5 Export volume increased by 48% month-on-month for lead acid battery in March 30
6. Company News 31
6.1 Zhuzhou Smelter’s lead smelter halts production for maintenance in April 31
6.2 Yongzhou Fujia Nonferrous Metal’s lead smelter starts trial production in April 31
6.3 Yuyuan launches its 60,000tpy lead expansion project in Qinghai 32
7．Related Industry Development 32
8 . Market Outlook 32


Graph 1: China CPI and PPI in 2011 5
Graph 2: China CPI and PPI in 2011 6
Graph 3 USD index 10
Graph 4: Lead ingot inventory on the LME in April 2012 11
Graph 5：Lead concentrate 60%min prices in the Chinese spot market in April 2012 12
Graph 6：Lead ingot 99.994%min prices in the Chinese spot market in April 2012 13
Graph 7: Secondary Lead ingot 98%min EX-VAT prices in the Chinese spot market in April 2012 14
Graph 8: Secondary lead ingot 98%min prices in the Chinese spot market in April 2012 14
Graph 9: Secondary lead ingot 99.97%min EX-VAT prices in the Chinese spot market in April 2012 15
Graph 10: Secondary Lead ingot 99.97%min EX-VAT prices in the Chinese spot market in April 2012 15
Graph 11: Recycled start-type battery EX-VAT prices in the Chinese spot market in April 2012 16
Graph 12: Recycled deep cycle battery EX-VAT prices in the Chinese spot market in April 2012 17
Graph 13: World Refined Lead Supply and Usage 2007 - 2012: 18
Graph 14 Operating rate for the biggest secondary lead plants 22
Graph 15: The following table is about the lead import and export data in March 2012 22
Graph 16: Top ten Chinese lead ore/concentrate importers March 2012 and the import quantities 25
Graph 17：China lead ore/concentrate import data by company in March 2012 26
Graph 18 : Export of Chinese lead acid battery in 2011-2012 31
Graph 19: Average export price trend of Chinese lead-acid storage battery in 2011-2012 31

.Asian Metal Copyright4 China lead oreconcentrate import data by company in March 2012 25 5Asian Metal Copyright