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Demand for lead ingot sluggish in China

2019-03-07 14:04:03  【Print】
BEIJING (Asian Metal) 7 Mar 19 - The downstream battery market is in the slack season now and some battery plants resumed production rather late after the Spring Festival holiday, so the demand for lead ingot has not recovered to the normal level yet. Prices for Chinese lead ingot stood at RMB17,400-17,600/t (USD2,594-2,624/t) on Wednesday, unchanged from Tuesday.Asian Metal Copyright994%min at RMB17,450t USD2,601t on Wednesday, unchanged from Tuesday when selling about 100t of the material.Asian Metal Copyright Lead ingot prices are expected to edge down in the coming week.

A producer from Liaoning explained they sold 100t of lead ingot 99.994%min at RMB17,450/t (USD2,601/t) on Wednesday, unchanged from Tuesday when selling about 100t of the material. "Downstream battery plants make purchases of lead ingot inactively now as the demand has not recovered to normal level, and we close deals with contango at RMB100/t (USD14.91/t)," the source noted, expecting that lead ingot prices would go down in the coming week as smelters are actively clearing their stocks now after lead ingot prices rebounded before.

With an annual capacity of 30,000t for lead ingot, the company produced 2,300t in January and 2,000t in February, holding 100t of stocks now.

A producer in Shaanxi sold 100t of lead ingot 99.994%min at RMB17,550/t (USD2,616/t) on Wednesday, while the price was RMB17,570/t (USD2,619/t) on Tuesday when they sold 100t.Asian Metal Copyright "Enquiries from downstream battery plants rose, but transactions were limited.Asian Metal Copyright "Enquiries from downstream battery plants rose, but transactions were limited.Asian Metal Copyright With an annual capacity of 30,000t for lead ingot, the company produced 2,300t in January and 2,000t in February, holding 100t of stocks now.Asian Metal Copyright Some companies chose to wait on the sidelines with a pessimistic attitude towards the market outlook," the source noted, expecting lead ingot prices to edge down in the coming week.

With an annual capacity of 60,000t for lead ingot, the company produced 3,000t in January and 2,800t in February, holding 100t of stocks now.


.Asian Metal Copyright Prices for Chinese lead ingot stood at RMB17,400-17,600t USD2,594-2,624t on Wednesday, unchanged from Tuesday.Asian Metal Copyright