Lead Market Report January 2016
2016-02-05 09:40:32 【Print】
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Introduction 3
1. International market review 3
1.1 LME lead futures rise sharply in December 3
2．Chinese market review 3
2.1 Chinese lead concentrate supply remains sufficient in December 3
2.2 Chinese lead ingot market sluggish 4
2.3 Chinese secondary lead market dull 4
3 Production data 5
3.1 World supply of refined lead metal exceeds demand by 33kt during Jan-Nov 2015 5
3.2 Lead production in China 6
3.2.1 Chinese primary lead smelters’ operating rates up by 2.86% MOM in January 6
3.2.2 Lead ingot stocks at Chinese primary lead smelters down by 10.04% MOM in late January 2016 7
4. Import & Export data in China 7
4.1 Lead import and export data in China by country 7
4.2 Analysis of lead import & export data 9
4.2.1 China’s refined lead exports up by 121.8% MOM in December 2015 9
4.2.2 China’s lead ore/concentrate imports down by 23.3% MOM in December 2015 9
4.3 Top 10 Chinese importers for lead concentrate in December 10
5 Company News 11
5.1 Guixin Mining Development halts lead-zinc mine production 11
5.2 Xinling Lead resumes crude lead production 11
5.3 Xinye Metal’s 30,000tpy lead ingot expansion project may come on stream in March 2016 11
5.4 Tianneng Power Materials halts secondary lead production on January 27th 12
5.5 Zhicheng Gold & Lead to halt production for maintenance 12
6 Related industry developments 12
6.1 China’s automobile sales volume increases by 4.68% year-on-year in 2015 12
7 Market Outlook 12
Graph 1 The price graph of lead futures on the LME from December 2015 to January 2016 3
Graph 2 Lead ingot inventories in LME warehouses from December 2015 to January 2016 3
Graph 3 Lead concentrate 60%min prices on the Chinese spot market from December 2015 to January 2016 4
Graph 4 Lead ingot 99.994%min prices on the Chinese spot market from December 2015 to January 2016 4
Graph 5 Prices for secondary Lead 98%min VAT excluded on Chinese market from December 2015 to January 2016 5
Graph 6 Prices for secondary Lead 99.97%min on the Chinese spot market from December 2015 to January 2016 5
Graph 7 China’s major primary lead smelters’ operating rates Jan 2015-Jan 2016 6
Graph 8 The average operating rate in lead smelters in Henan, Hunan and Yunnan from January 2015 to January 2016 6
Graph 9 Chinese primary lead smelters’ stock at month end from January 2014 to December 2015 7
Graph 10 Chinese lead ingot exports from 2014 to 2015 9
Graph 11 Chinese lead ore/concentrate imports from January 2014 to December 2015 10
Graph 12 China’s imports of lead concentrate from Australia, Peru, Russia and the US from January to December 2015 10
Table 1 World Lead supply and consumption in 2015 5
Table 2 China’s lead import and export data in December 2015 (unit: tonne) 8
Table 3 Top 10 Chinese importers of lead concentrate and ore and their importing volumes in December 2015 11
1. International market review 3
1.1 LME lead futures rise sharply in December 3
2．Chinese market review 3
2.1 Chinese lead concentrate supply remains sufficient in December 3
2.2 Chinese lead ingot market sluggish 4
2.3 Chinese secondary lead market dull 4
3 Production data 5
3.1 World supply of refined lead metal exceeds demand by 33kt during Jan-Nov 2015 5
3.2 Lead production in China 6
3.2.1 Chinese primary lead smelters’ operating rates up by 2.86% MOM in January 6
3.2.2 Lead ingot stocks at Chinese primary lead smelters down by 10.04% MOM in late January 2016 7
4. Import & Export data in China 7
4.1 Lead import and export data in China by country 7
4.2 Analysis of lead import & export data 9
4.2.1 China’s refined lead exports up by 121.8% MOM in December 2015 9
4.2.2 China’s lead ore/concentrate imports down by 23.3% MOM in December 2015 9
4.3 Top 10 Chinese importers for lead concentrate in December 10
5 Company News 11
5.1 Guixin Mining Development halts lead-zinc mine production 11
5.2 Xinling Lead resumes crude lead production 11
5.3 Xinye Metal’s 30,000tpy lead ingot expansion project may come on stream in March 2016 11
5.4 Tianneng Power Materials halts secondary lead production on January 27th 12
5.5 Zhicheng Gold & Lead to halt production for maintenance 12
6 Related industry developments 12
6.1 China’s automobile sales volume increases by 4.68% year-on-year in 2015 12
7 Market Outlook 12
Graph 1 The price graph of lead futures on the LME from December 2015 to January 2016 3
Graph 2 Lead ingot inventories in LME warehouses from December 2015 to January 2016 3
Graph 3 Lead concentrate 60%min prices on the Chinese spot market from December 2015 to January 2016 4
Graph 4 Lead ingot 99.994%min prices on the Chinese spot market from December 2015 to January 2016 4
Graph 5 Prices for secondary Lead 98%min VAT excluded on Chinese market from December 2015 to January 2016 5
Graph 6 Prices for secondary Lead 99.97%min on the Chinese spot market from December 2015 to January 2016 5
Graph 7 China’s major primary lead smelters’ operating rates Jan 2015-Jan 2016 6
Graph 8 The average operating rate in lead smelters in Henan, Hunan and Yunnan from January 2015 to January 2016 6
Graph 9 Chinese primary lead smelters’ stock at month end from January 2014 to December 2015 7
Graph 10 Chinese lead ingot exports from 2014 to 2015 9
Graph 11 Chinese lead ore/concentrate imports from January 2014 to December 2015 10
Graph 12 China’s imports of lead concentrate from Australia, Peru, Russia and the US from January to December 2015 10
Table 1 World Lead supply and consumption in 2015 5
Table 2 China’s lead import and export data in December 2015 (unit: tonne) 8
Table 3 Top 10 Chinese importers of lead concentrate and ore and their importing volumes in December 2015 11
