Chinese suppliers reluctant to sell lead ingot

BEIJING (Asian Metal) 10 Mar 14 - Lead ingot prices continued to linger at the low level of about RMB13,700/t (USD2,246/t) in the Chinese spot market last Friday, so some suppliers were reluctant to sell the metal.

A source from an Anhui-based lead smelter reported that they did not sell any lead ingot recently as the lead ingot prices were too low. “The concluded prices of lead ingot 99.994%min were at about RMB13,700-13,730/t (USD2,246-2,251/t) in the Shanghai spot market on Friday,” said the source.Asian Metal Copyright The lead smelter’s lead ingot output is about 7,000tpm, based on its full production capacity of 100,000tpy and the company holds about 4,000t of the metal in stock.Asian Metal Copyright “We were reluctant to sell the metal though we received some inquiries.Asian Metal Copyright “We were reluctant to sell the metal though we received some inquiries.Asian Metal Copyright Meanwhile, the lead futures bounced up on the SHFE on Friday afternoon, so some suppliers waited for the recovery of lead ingot prices.”

The source said that they will keep active in selling the metal after the price increase to about RMB14,100-14,200/t (USD2,311-2,328/t).

The lead smelter’s lead ingot output is about 7,000tpm, based on its full production capacity of 100,000tpy and the company holds about 4,000t of the metal in stock.

A source from a Yunnan-based lead smelter reported that lead ingot prices have kept softening slightly in recent weeks, due to the sufficient supply of lead ingot and sluggish demand from lead acid battery producers. “The current lead ingot prices were only about RMB13,700/t (USD2,246/t) in the Shanghai spot market and about RMB13,500/t (USD2,213/t) ex works in the Yunnan spot market, about RMB200-300/t (USD33-49/t) lower than those before Spring Festival holiday,” said the source.Asian Metal Copyright “The current lead ingot prices were only about RMB13,700t USD2,246t in the Shanghai spot market and about RMB13,500t USD2,213t ex works in the Yunnan spot market, about RMB200-300t USD33-49t lower than those before Spring Festival holiday,” said the source.Asian Metal Copyright “However, the lead concentrate supply remains tight and the cost of the material keeps high, so we are reluctant to sell the metal now.”

The source said that they did not make offers last Friday. The company’s lead ingot output is about 4,000tpm and it holds about 1,000t of the metal on hand.

The source predicted that the lead ingot prices may recover slightly in the coming weeks, when the operation rates of lead acid battery companies may increase.

.Asian Metal Copyright Asian Metal Copyright