Lead Market Report August 2017

Contents
Abstract 3
1. International market review 3
1.1 LME lead prices up with fluctuation in August 3
2. Chinese market review 3
2.1 Chinese lead concentrate market sees better supply 3
2.2 Prices for Chinese lead ingot up with fluctuation in August 4
2.3 Chinese secondary lead prices soar 4
3. Data on monthly outputs 4
3.1 Statistics on China’s lead ingot output 4
3.1.Asian Metal Copyright3% MOM in July 2017 7 4.Asian Metal Copyright1 Chinese primary lead output up by 3.7% MOM in August 4
3.1.Asian Metal Copyright1.Asian Metal Copyright2 Lead ingot stocks held by Chinese primary lead smelters up by 7.4% MOM in late August 5
3.2 Statistics on China’s secondary lead output 5
3.2.Asian Metal Copyright2 Prices for Chinese lead ingot up with fluctuation in August 4 2.Asian Metal Copyright1 Chinese secondary lead output in August up by 20.6% MOM 6
3.2.Asian Metal Copyright2 Statistics on China’s secondary lead output 5 3.Asian Metal Copyright2 Chinese secondary lead smelters’ inventory down by 3.1% MOM in late August 6
4. Data on China’s lead imports and exports 6
4.1 Data on imports and exports of refined lead and lead concentrate by origin country 6
4.2 Analysis on China’s lead imports and exports data 7
4.2.Asian Metal Copyright97%min in China from Jul to Aug 2017 Unit: RMBt 4 Graph 6 Chinese primary lead smelters’ output by month from January 2016 to August 2017 Unit: 10kt 5 Graph 7 Chinese primary lead output in some regions by month from Jan 2016 to Aug 2017 Unit: 10kt 5 Graph 8 Lead ingot inventories held by major Chinese primary lead smelters from Jan 2016 to Aug 2017 Unit: t 5 Graph 9 China’s primary lead stocks by region from Jan 2016 to Aug 2017 Unit: t 5 Graph 10 Chinese secondary lead output by month from Jan 2016 to Aug 2017 6 Graph 11 Chinese secondary lead stocks by region from Jan 2016 to Aug 2017 6 Graph 12 Secondary lead inventory in China’s smelters from Jan 2016 to Aug 2017 Unit: ton 6 Graph 13 China’s monthly lead concentrate and ore imports from Jan 2016 to Jul 2017 Unit: 10kt 7 Graph 14 China’s lead concentrate and ore imports from Australia, Peru, Russia and America from Jan 2016 to Jul 2017 Unit: 10kt 7 Table 1 China’s lead imports and exports in July 2017 6 Table 2 Top 10 importers of lead concentrate and ore in July Unit: t 7 Table 3 China’s lead ore and concentrate imports in July 2017 8 .Asian Metal Copyright1 China’s lead concentrate and ore imports down by 16.3% MOM in July 2017 7
4.2.2 Top ten Chinese importers of lead concentrate in July 7
4.2.3 Detailed data on China’s lead ore and concentrate imports in July 8
5. Company news 8
5.1 Tongguan Nonferrous Metals cuts lead ingot production 8
5.2 Nanfang Non-ferrous raises lead ingot output 8
5.3 Shibing Lead Smelting resumes electrolytic lead production 8
5.4 Fengyue Science & Technology halts electrolytic lead production 8
6． Related industrial new 9
6.1 2.Asian Metal Copyright4 Fengyue Science Technology halts electrolytic lead production 8 6． Related industrial new 9 6.Asian Metal Copyright186 million of cars sold in August up by 5.27% YOY 9
7． Market outlook 9

Graph 1 Price trend of LME three-month lead contracts from Jul to Aug 2017 (Unit: USD/t) 3
Graph 2 LME lead stock from Jul to Aug 2017 (Unit: t) 3
Graph 3 Price trend for spot lead concentrate 60%min in China from Jul to Aug 2017 (RMB/metal ton ex works) 4
Graph 4 Chinese lead ingot 99.994%min spot prices from Jul to Aug 2017 (RMB/t) 4
Graph 5 Spot price trend for secondary lead 99.97%min in China from Jul to Aug 2017 (Unit: RMB/t) 4
Graph 6 Chinese primary lead smelters’ output by month from January 2016 to August 2017 (Unit: 10kt) 5
Graph 7 Chinese primary lead output in some regions by month from Jan 2016 to Aug 2017 (Unit: 10kt) 5
Graph 8 Lead ingot inventories held by major Chinese primary lead smelters from Jan 2016 to Aug 2017 (Unit: t) 5
Graph 9 China’s primary lead stocks by region from Jan 2016 to Aug 2017 (Unit: t) 5
Graph 10 Chinese secondary lead output by month from Jan 2016 to Aug 2017 6
Graph 11 Chinese secondary lead stocks by region from Jan 2016 to Aug 2017 6
Graph 12 Secondary lead inventory in China’s smelters from Jan 2016 to Aug 2017 (Unit: ton) 6
Graph 13 China’s monthly lead concentrate and ore imports from Jan 2016 to Jul 2017 (Unit: 10kt) 7
Graph 14 China’s lead concentrate and ore imports from Australia, Peru, Russia and America from Jan 2016 to Jul 2017 (Unit: 10kt) 7

Table 1 China’s lead imports and exports in July 2017 6
Table 2 Top 10 importers of lead concentrate and ore in July (Unit: t) 7
Table 3 China’s lead ore and concentrate imports in July 2017 8






.Asian Metal Copyright Data on China’s lead imports and exports 6 4Asian Metal Copyright