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Chinese lead ingot prices down

2019-03-19 17:58:30   【Print】
BEIJING (Asian Metal) 19 Mar 19 - Affected by the coming VAT cut, lead ingot prices in Shanghai dropped sharply.Asian Metal Copyright With an annual capacity of 30,000t for lead ingot, the producer produced about 1,500t in February, and expects to produce around 2,000t in March, holding about 100t of stocks now.Asian Metal Copyright Mainstream prices for spot lead ingot 99.994%min stood at RMB17,175-17,375/t (USD2,559-2,589/t) in China this Monday, down by RMB100/t (USD14.90/t) from last Friday.Asian Metal Copyright "Because the VAT rate will be lowered, downstream customers generally predicted that prices for lead ingot will fall, and purchase on rigid demand now," said the source.Asian Metal Copyright Downstream consumers are pessimistic about the market outlook, and wait on the sidelines, so transactions in the market are limited.Asian Metal Copyright994%min stood at RMB17,175-17,375t USD2,559-2,589t in China this Monday, down by RMB100t USD14.Asian Metal Copyright Prices for lead ingot are expected to edge down in the coming week.

A trader in Jiangsu offered lead ingot 99.994%min at RMB17,325/t (USD2,581/t) this Monday, and sold about 100t at the price, down by RMB100/t (USD14.90/t) from the price last Friday when he also sold about 100t of the material.Asian Metal Copyright .Asian Metal Copyright "As the new VAT rate will be implemented from April 1, downstream consumers are pessimistic about market outlook and unwilling to stock up.Asian Metal Copyright A producer in Hunan sold about 70t of lead ingot 99.Asian Metal Copyright Thus, our transactions in recent days were all concluded with customers with rigid demand," said the source. He predicts lead ingot prices might further drop by about RMB100/t (USD14.90/t) in the coming week.

With a regular monthly trading volume of about 3,000t for lead ingot, the trader sold about 1,000t in February, and expects to sell around 2,000t this month, holding 200t of stocks now.

A producer in Hunan sold about 70t of lead ingot 99.994%min at RMB17,250/t (USD2,569/t) this Monday and about 80t at RMB17,350/t (USD2,584/t) last Friday.Asian Metal CopyrightBEIJING Asian Metal 19 Mar 19 - Affected by the coming VAT cut, lead ingot prices in Shanghai dropped sharply.Asian Metal Copyright "Because the VAT rate will be lowered, downstream customers generally predicted that prices for lead ingot will fall, and purchase on rigid demand now," said the source.Asian Metal Copyright90t from the price last Friday when he also sold about 100t of the material.Asian Metal Copyright He predicts that lead ingot prices would edge down further in the coming week due to weak demand.

With an annual capacity of 30,000t for lead ingot, the producer produced about 1,500t in February, and expects to produce around 2,000t in March, holding about 100t of stocks now.

.Asian Metal Copyright With an annual capacity of 30,000t for lead ingot, the producer produced about 1,500t in February, and expects to produce around 2,000t in March, holding about 100t of stocks now.Asian Metal Copyright