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Spot Chinese lead ingot market sees few transactions

2019-03-26 11:58:35   【Print】
BEIJING (Asian Metal) 26 Mar 19 - Mainstream prices for lead ingot 99.994%min stood at RMB17,050-17,250/t (USD2,543-2,573/t) in Chinese spot market on Monday, down by RMB25/t (USD3.73/t) from last Friday.Asian Metal Copyright Lead ingot prices are expected to edge down further in the coming week.Asian Metal Copyright Some smelters held back from selling in the spot market as the VAT rate will decrease from 1 April, but downstream battery plants were afraid of lower prices and mainly purchased from hand to mouth with a wait-and-see attitude, leading to limited transactions on the spot market.Asian Metal Copyright .Asian Metal Copyright Lead ingot prices are expected to edge down further in the coming week.

A producer in South China explained that they offered RMB17,150/t (USD2,558/t) for lead ingot 99.994%min on Monday, but closed no deals. "We only delivered orders closed via long-term contracts today and did not sell it to new clients in the spot market, expecting to close spot deals in April," the source noted, adding that they sold 50t of lead ingot in the spot market at RMB17,175/t (USD2,561/t) to a regular client last Friday.Asian Metal Copyright Lead ingot prices are expected to go down further in the coming week.Asian Metal Copyright Lead ingot prices are expected to edge down further in the coming week.

With an annual capacity of 80,000t for lead ingot, the company produced 5,000t in February, and expects to see 5,500t in March, holding 1,000t of stocks now.

Another producer from South China explained they sold about 50t of lead ingot 99.994%min at RMB17,100/t (USD2,550/t) on Monday, while the price was RMB17,125/t (USD2,554/t) last Friday when they sold 50t.Asian Metal Copyright .Asian Metal Copyright "With a pessimistic attitude towards the market outlook, downstream clients only purchased from hand to mouth, and we sold 80% of our product via long-term contracts," the source noted.Asian Metal Copyright With an annual capacity of 80,000t for lead ingot, the company produced 5,000t in February, and expects to see 5,500t in March, holding 1,000t of stocks now.Asian Metal Copyright Lead ingot prices are expected to go down further in the coming week.

With an annual capacity of 100,000t for lead ingot, the company halted production for maintenance in February, and expects to see an output of 6,500t in March, holding no stocks now.

.Asian Metal Copyright With an annual capacity of 100,000t for lead ingot, the company halted production for maintenance in February, and expects to see an output of 6,500t in March, holding no stocks now.Asian Metal Copyright