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Chinese lead ingot prices down

2019-03-13 15:01:41   【Print】
BEIJING (Asian Metal) 13 Mar 19 - Mainstream prices for lead ingot 99.994%min were RMB17,275-17,475/t (USD2,576-2,605/t) in the Chinese spot market on Tuesday, down by RMB50/t (USD7.45/t) from Monday.Asian Metal Copyright91t in the coming week due to large volumes of stocks held by smelters and weak demand from downstream customers.Asian Metal Copyright In spite of slightly decreased prices, suppliers sell the material as usual, but transactions are limited in the market now as downstream consumers merely purchase from hand to mouth in order to avoid risks caused by further declined prices in the future.Asian Metal Copyright .Asian Metal Copyright It's expected that prices for lead ingot would continue to go down slightly in the coming week.

A trader in Anhui sold about 100t of lead ingot 99.994%min at RMB17,400/t (USD2,594/t) on Tuesday, down by RMB50/t (USD7.45/t) from Monday when they sold about 150t of the material. "Transactions were limited on both Monday and Tuesday mainly because downstream customers, who expected that prices for the material would go down further in the future considering continuously declined prices recently, were inactive in refilling stocks," the trader said, forecasting that lead ingot prices would decline further by about RMB100/t (USD14.91/t) in the coming week due to large volumes of stocks held by smelters and weak demand from downstream customers.

With a typical monthly trade volume of 5,000t of lead ingot, the trader sold about 2,000t of the material in February, expecting to sell 4,000t in March. They hold around 200t of stocks for the time being.

A Shandong-based consumer purchased about 50t of lead ingot 99.994%min at RMB17,350/t (USD2,587/t) on Tuesday and the same volume of the material at RMB17,400/t (USD2,594/t) on Monday.Asian Metal Copyright994%min at RMB17,350t USD2,587t on Tuesday and the same volume of the material at RMB17,400t USD2,594t on Monday.Asian Metal Copyright "We think lead ingot prices would continue to decrease slightly in the near future and thus we purchase the material per day now to meet the daily demand with unwillingness to hold extra stocks," the consumer stated.

With an annual consumption capacity of 18,000t of lead ingot, the consumer consumed about 1,000t of the material in February, expecting to raise the consumption volume to about 1,500t in March. They merely hold 50t of stocks at the moment.


.Asian Metal Copyright In spite of slightly decreased prices, suppliers sell the material as usual, but transactions are limited in the market now as downstream consumers merely purchase from hand to mouth in order to avoid risks caused by further declined prices in the future.Asian Metal Copyright