Lead Market Report April 2013

Catalog
Introduction 4
1. Financial News Overview 4
1.1 International financial news overview 4
1.1.1 International crude oil price sees fluctuation in April 4
1.1.2 US dollar index stabilizes at high levels 5
1.1.3 FED cancels quantitative easing policies, hitting nonferrous metals market 6
1.2 Chinese Financial News Overview 7
1.2.Asian Metal Copyright9% year-on-year 7 1.Asian Metal Copyright1 CPI increases by 2.Asian Metal Copyright84% MOM in March 2013 19 4.Asian Metal Copyright1% year-on-year while PPI decreases by 1.9% year-on-year 7
1.2.Asian Metal Copyright2 PMI in April decreases by 0.Asian Metal Copyright2 PMI in April decreases by 0.3% from March 8
2. International Lead Market Review 9
2.1 Lead futures drop further on weak economic data 9
3. Chinese lead market review 10
3.1 Chinese lead concentrate supply tightens in April 10
3.2 Chinese lead ingot prices keep dropping, hitting 3-year low 11
3.3 The demand of secondary lead still weak and the prices continue decreasing 12
3.4 Recycle lead battery market operates slowly 15
3.5 The demand of lead acid battery slowly down 16
4. Production Data 18
4.1 ILZSG: 8kt of refined lead surplus in global lead market in Jan-Feb 2013 18
4.2 Lead production in China 19
4.2.Asian Metal Copyright2 PMI in April decreases by 0.Asian Metal Copyright1 China’s lead concentrate production up by 19.85% YOY in Q1 2013 19
4.2.Asian Metal Copyright1 Haicheng Chengxin’s lead smelter to resume production in late April 26 6.Asian Metal Copyright2 China’s lead ingot production grows by 29.84% MOM in March 2013 19
4.2.3 Chinese major lead smelters operation rates declines in April on low lead and silver prices 20
4.4 The operation rate of the biggest secondary lead smelters in China in April 21
5. Lead import and export data in China 22
5.1 Lead import and export data in China by country: 22
5.2 Analysis on lead import & export data 24
5.2.Asian Metal Copyright5 The demand of lead acid battery slowly down 16 4.Asian Metal Copyright1 China’s refined lead export up by 365.77%YOY March 2013 24
5.2.2 China’s lead ore/concentrate import declines by 31.52% YOY in March 2013 25
5.3 Top ten Chinese lead ore/concentrate importers March 2013 25
6. Company News 26
6.1 Haicheng Chengxin’s lead smelter to resume production in late April 26
6.2 KCM to build a 72,000tpy lead smelter 26
6.3 Fujia Nonferrous lead smelter halts production for maintenance 26
6.4 Wanyang’s one lead smelter halts production for maintenance 27
6.5 Xiangyun Feilong’s lead smelter halts production for equipment modification 27
6.6 Chengyuan’s lead smelter resumes production 27
7．Related Industry Development 28
7.1 China automobile output and sales volume increased strongly in March 2013 28
8. Market Outlook 28



Graph 1: Crude oil prices in US in April 2013 5
Graph 2: USD index chart 6
Graph 3: Chinese CPI and PPI chart during 2011-2013 8
Graph 4: Chinese PMI chart during 2011-2013 9
Graph 5：The price graph of lead futures on the LME in April 2013 10
Graph 6：Lead ingot inventory in the warehouses of LME in April 2013 10
Graph 7: Lead concentrate 60%min prices in the Chinese spot market in April 2013 11
Graph 8: Lead ingot 99.994%min prices in the Chinese spot market in April 2013 12
Graph 9: Secondary Lead ingot 98%min EX-VAT prices in the Chinese spot market in April 2013 13
Graph 10: Secondary lead ingot 98%min prices in the Chinese spot market in April 2013 14
Graph 11: Secondary lead ingot 99.97%min EX-VAT prices in the Chinese spot market in April 2013 14
Graph 12: Secondary Lead ingot 99.97%min EX-VAT prices in the Chinese spot market in April 2013 15
Graph 13: Recycled start-type battery EX-VAT prices in the Chinese spot market in April 2013 16
Graph 14: Recycled deep cycle battery EX-VAT prices in the Chinese spot market in April 2013 16
Graph 15：The processing charge of deep-cycle lead acid battery polar plate in Chinese spot market in April 2013 17
Graph 16：The processing charge of start-type lead acid battery polar plate in Chinese spot market in April 2013 18
Graph 17: World Refined Lead Supply and Usage 2008 - 2013 19
Graph 18: Operation rate for the major secondary lead smelters in China in April 2013 22
Graph 19: China’s lead import and export data in March 2013 24
Graph 20: Top ten Chinese lead ore/concentrate importers March 2013 26

.Asian Metal Copyright1 China’s lead concentrate production up by 19Asian Metal Copyright