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Chinese lead ingot market sees scarce transactions

2019-04-24 11:51:20  【Print】
BEIJING (Asian Metal) 24 Apr 19 - Mainstream prices for lead ingot 99.994%min stood at RMB16,450-16,650/t (USD2,448-2,478/t) in China on Tuesday, down by RMB50/t (USD7.44/t) from Monday.Asian Metal Copyright .Asian Metal Copyright The demand for lead ingot was weak due to the off season for battery market, and lead ingot prices fell, so smelters held back from selling in the spot market.Asian Metal Copyright44t from Monday.Asian Metal Copyright But downstream consumers mainly purchased from hand to mouth as they worried lower prices in the future, leading to limited transactions.Asian Metal Copyright44t from Monday.Asian Metal Copyright Lead ingot prices are expected to fluctuate at low levels in the coming week.

A producer in South China offered RMB16,600/t (USD2,470/t) for lead ingot 99.994%min in the spot market on Tuesday, but closed no deals. They sold about 50t at RMB16,625/t (USD2,474/t) on Monday. "Lead ingot prices keep at low levels now and we sell more than 90% of our product via long-term contracts with just a little of the material sold in the spot market," the source noted, expecting lead ingot prices to fluctuate around RMB16,600/t (USD2,470/t) in the coming week.

With an annual capacity of 100,000t for lead ingot, the company produced 7,000t in March, and expects to see an output of the same volume in April, holding no stocks now.

A consumer from North China explained they purchased about 100t of lead ingot 99.994%min at RMB16,525/t (USD2,459/t) on Tuesday, while the price was RMB16,500/t (USD2,455/t) last Friday when they bought the same volume. "We keep our operating rate at only 60% or so due to the off season of battery market, and we purchase lead ingot from hand to mouth for two to three times a week with no stocks in hand," the source noted, expecting lead ingot prices to fluctuate around RMB16,500/t (USD2,455/t) in the coming week.

With an annual consumption capacity of 20,000t for lead ingot, the company used 1,000t in March, and expects to use the same volume in April, only holding 100t of stocks now.


.Asian Metal Copyright44t from Monday.Asian Metal Copyright