Lead Market Report September 2014
2014-10-23 15:33:38 【Print】
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Introduction 4
1.1 Domestic financial overview 4
2. International Market Review 7
2.1 Lead futures drop sharply on LME in September 7
2.2 North American lead market stable in September 9
2.3 North American spent lead acid battery market improves in September 9
3. Chinese market review 9
3.1 Lead concentrate prices weakened in September 9
3.2 Lead ingot prices head down continuously on the Chinese market in September 10
3.3 Secondary lead prices continue to decline 11
3.4 Recycled lead battery supply becomes abundant 14
3.5 Lead acid battery market revives with little power 16
4. Production Data 18
4.1 World supply of refined lead metal exceeds demand by a marginal 11kt during Jan-Jul 2014 18
4.2 Lead production in China 19
4.2.1 China’s lead concentrate output up by 2.33% MOM in August 2014 19
4.2.2 China’s refined lead ingot production down by 0.51% MOM in August 2014 20
4.2.3 Chinese primary lead smelters’ operating rate declines in September 20
4.2.4 Secondary lead output of major smelters up by 2.2% MOM in September 22
4.2.5 Lead ingot stocks at Chinese primary lead smelters up by 59.30% MOM in late September 2014 23
4.2.6 Recycled lead battery inventories held by major secondary lead smelters up by 21.8% MOM by the end of September 24
4.2.7 Major smelters’ secondary lead stocks up by 41.5% MOM in late September 25
5. Import and export data in China 26
5.1 Lead import and export data in China by country: 26
5.2 Analysis of lead import & export data 27
5.2.1 China’s lead ore/concentrate imports down by 6.97% MOM in August 2014 27
5.2.2 China’s refined lead exports down by 23.42% MOM in August 2014 30
5.3 Top ten Chinese lead ore/concentrate importers in Aug 2014 31
5.4 Chinese lead acid battery exports up by 0.6% MOM in August 32
6. Company News 33
6.1 Anhui Tongguan increases lead ingot output in September 33
6.2 Cangwu Nonferrous’ lead ingot output to increase in October 34
6.3 Qingyang Mining publishes EIA for its lead-zinc expansion project 34
7. Related industry Developments 34
7.1 China’s automobile sales volumes up by 4% YOY in August 34
8． Market Outlook 34
Graph 1 China’s CPI and PPI trend between 2012 and 2014 4
Graph 2 China’s PMI between 2012 and 2014 5
Graph 3 US crude oil futures price trend on major transaction market in September 6
Graph 4 US dollar index trend in September 7
Graph 5: The price graph of lead futures on the LME in September 2014 8
Graph 6: Lead ingot inventories in LME warehouses in September 2014 8
Graph 7: Lead concentrate 60%min prices on the Chinese spot market in September 2014 10
Graph 8: Lead ingot 99.994%min prices on the Chinese spot market in September 2014 11
Graph 9 Secondary Lead 98%min EX-VAT prices on Chinese market in September 2014 12
Graph 10 Secondary Lead 98%min prices on the Chinese spot market in September 2014 13
Graph 11 Secondary Lead 99.97%min EX-VAT prices on the Chinese spot market in September 2014 13
Graph 12 Secondary Lead 99.97%min prices on the Chinese spot market in September 2014 14
Graph 13 Recycled start-type lead battery EX-VAT prices on the Chinese spot market in September 2014 15
Graph 14 Recycled deep cycle lead battery EX-VAT prices on the Chinese spot market in September 2014 16
Graph 15 Processing charges for deep cycle lead battery polar plate in September 2014 17
Graph 16 Processing charges of start-type lead battery polar plate in September 2014 18
Graph 17: Chinese Primary lead smelters’ lead ingot production and operating rates Sep 2013-Sep 2014 21
Graph 18 Major secondary lead smelters' output by region 22
Graph 19 Secondary lead output of Chinese large smelters in 2013-2014 23
Graph 20 Major secondary lead smelters' recycled lead battery inventories by region 24
Graph 21 Secondary lead stocks allocation of Chinese major smelters 25
Graph 22: China’s lead concentrate imports Jan 2013-Aug 2014 28
Graph 23: Lead ore/concentrate imported from Australia into China Jan-Aug 2014 29
Graph 24: Lead ore/concentrate imported from Peru into China Jan-Aug 2014 29
Graph 25: China refined lead exports 2013-2014 31
Graph 26:China’s lead acid battery export in 2013-2014 32
Table 1: World Refined Lead Supply and Usage 2009 - 2014 19
Table 2: Operating rates for lead smelters in Henan, Hunan and Yunnan in Sep 2014 21
Table 3: Lead ingot stocks in Henan, Hunan and Yunnan provinces in late September 2014 23
Table 4: China’s lead import and export data in August 2014 27
Table 5 Top ten Chinese lead ore/concentrate importers in August 2014 32
Table 6 The top 20 importing countries for Chinese lead acid batteries in May 33
1.1 Domestic financial overview 4
2. International Market Review 7
2.1 Lead futures drop sharply on LME in September 7
2.2 North American lead market stable in September 9
2.3 North American spent lead acid battery market improves in September 9
3. Chinese market review 9
3.1 Lead concentrate prices weakened in September 9
3.2 Lead ingot prices head down continuously on the Chinese market in September 10
3.3 Secondary lead prices continue to decline 11
3.4 Recycled lead battery supply becomes abundant 14
3.5 Lead acid battery market revives with little power 16
4. Production Data 18
4.1 World supply of refined lead metal exceeds demand by a marginal 11kt during Jan-Jul 2014 18
4.2 Lead production in China 19
4.2.1 China’s lead concentrate output up by 2.33% MOM in August 2014 19
4.2.2 China’s refined lead ingot production down by 0.51% MOM in August 2014 20
4.2.3 Chinese primary lead smelters’ operating rate declines in September 20
4.2.4 Secondary lead output of major smelters up by 2.2% MOM in September 22
4.2.5 Lead ingot stocks at Chinese primary lead smelters up by 59.30% MOM in late September 2014 23
4.2.6 Recycled lead battery inventories held by major secondary lead smelters up by 21.8% MOM by the end of September 24
4.2.7 Major smelters’ secondary lead stocks up by 41.5% MOM in late September 25
5. Import and export data in China 26
5.1 Lead import and export data in China by country: 26
5.2 Analysis of lead import & export data 27
5.2.1 China’s lead ore/concentrate imports down by 6.97% MOM in August 2014 27
5.2.2 China’s refined lead exports down by 23.42% MOM in August 2014 30
5.3 Top ten Chinese lead ore/concentrate importers in Aug 2014 31
5.4 Chinese lead acid battery exports up by 0.6% MOM in August 32
6. Company News 33
6.1 Anhui Tongguan increases lead ingot output in September 33
6.2 Cangwu Nonferrous’ lead ingot output to increase in October 34
6.3 Qingyang Mining publishes EIA for its lead-zinc expansion project 34
7. Related industry Developments 34
7.1 China’s automobile sales volumes up by 4% YOY in August 34
8． Market Outlook 34
Graph 1 China’s CPI and PPI trend between 2012 and 2014 4
Graph 2 China’s PMI between 2012 and 2014 5
Graph 3 US crude oil futures price trend on major transaction market in September 6
Graph 4 US dollar index trend in September 7
Graph 5: The price graph of lead futures on the LME in September 2014 8
Graph 6: Lead ingot inventories in LME warehouses in September 2014 8
Graph 7: Lead concentrate 60%min prices on the Chinese spot market in September 2014 10
Graph 8: Lead ingot 99.994%min prices on the Chinese spot market in September 2014 11
Graph 9 Secondary Lead 98%min EX-VAT prices on Chinese market in September 2014 12
Graph 10 Secondary Lead 98%min prices on the Chinese spot market in September 2014 13
Graph 11 Secondary Lead 99.97%min EX-VAT prices on the Chinese spot market in September 2014 13
Graph 12 Secondary Lead 99.97%min prices on the Chinese spot market in September 2014 14
Graph 13 Recycled start-type lead battery EX-VAT prices on the Chinese spot market in September 2014 15
Graph 14 Recycled deep cycle lead battery EX-VAT prices on the Chinese spot market in September 2014 16
Graph 15 Processing charges for deep cycle lead battery polar plate in September 2014 17
Graph 16 Processing charges of start-type lead battery polar plate in September 2014 18
Graph 17: Chinese Primary lead smelters’ lead ingot production and operating rates Sep 2013-Sep 2014 21
Graph 18 Major secondary lead smelters' output by region 22
Graph 19 Secondary lead output of Chinese large smelters in 2013-2014 23
Graph 20 Major secondary lead smelters' recycled lead battery inventories by region 24
Graph 21 Secondary lead stocks allocation of Chinese major smelters 25
Graph 22: China’s lead concentrate imports Jan 2013-Aug 2014 28
Graph 23: Lead ore/concentrate imported from Australia into China Jan-Aug 2014 29
Graph 24: Lead ore/concentrate imported from Peru into China Jan-Aug 2014 29
Graph 25: China refined lead exports 2013-2014 31
Graph 26:China’s lead acid battery export in 2013-2014 32
Table 1: World Refined Lead Supply and Usage 2009 - 2014 19
Table 2: Operating rates for lead smelters in Henan, Hunan and Yunnan in Sep 2014 21
Table 3: Lead ingot stocks in Henan, Hunan and Yunnan provinces in late September 2014 23
Table 4: China’s lead import and export data in August 2014 27
Table 5 Top ten Chinese lead ore/concentrate importers in August 2014 32
Table 6 The top 20 importing countries for Chinese lead acid batteries in May 33
