Lead Market Report February 2014
2014-03-14 19:05:39 【Print】
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Catalog
Introduction 4
1. Financial News Overview 4
1.1 International financial news overview 4
1.1.1 Frigid weather in North America boosts rebound of crude oil futures price 4
1.1.2 US dollar index weakens unexpectedly 5
1.2 Chinese Financial News Overview 6
1.2.1 CPI rises by 2.5% YOY, PPI declines by 1.6% YOY in January 2014 6
1.2.2 PMI continues to fall in February 6
2. International Market Review 7
2.1 Lead futures fluctuate narrowly on the LME in February 7
3. Chinese market review 9
3.1 Chinese lead concentrate market inactive in February 9
3.2 Chinese lead ingot market dull in February 10
3.3 Secondary lead in short supply in February 11
3.4 Recycled lead battery prices start to decrease in February 14
3.5 Lead acid battery market sluggish in February 15
4．Production Data 17
4.1 Global demand of refined lead metal exceeded supply by 22kt in 2013 17
4.2 Lead production in China 17
4.2.1 Chinese primary lead smelters’ operation rate declines to 54.75% in February 2014 17
4.2.2 Recycled lead battery inventory of largest secondary lead smelters down by 28% MOM at the end of February 19
4.2.3 Secondary lead inventory of largest smelters down by 50% MOM at the end of February 20
4.2.4 Secondary lead output of largest smelters down by 18% MOM in February 21
4.2.5 Lead ingot stocks in Chinese primary lead smelters up by 20.67% MOM in late February 2014 22
5. Import and export data in China 23
5.1 Lead import and export data in China by country in January 2014: 23
5.2 Analysis on lead import & export data 25
5.2.1 China’s lead ore/concentrate import up by 14.59% MOM in January 2014 25
5.2.2 China’s refined lead export down by 45.34% MOM in January 2014 26
5.2.3 China’s lead acid battery export up by 20% MOM in January 27
5.3 Top ten Chinese lead ore/concentrate importers in January 2014 28
6．Company News 29
6.1 Shuangyuan’s lead smelter to start operation in May 2014 29
6.2 Haicheng Chengxin’s lead ingot production increases in February 29
7．Related Industry Development 29
7.1 China automobile sales volume breaks record high in January 2014 29
8．Market Outlook 30
Graph 1: Futures prices of crude oil in US 5
Graph 2: USD index chart 5
Graph 3: Chinese CPI and PPI trend 2012-2014 6
Graph 4: China’s PMI index in 2012-2014 7
Graph 5: The price graph of lead futures on the LME in February 2014 8
Graph 6: Lead ingot inventory in the warehouses of LME in February 2014 8
Graph 7: Lead concentrate 60%min prices in the Chinese spot market in February 2014 10
Graph 8: Lead ingot 99.994%min prices in the Chinese spot market in February 2014 11
Graph 9: Secondary Lead 98%min EX-VAT prices in the Chinese spot market in February 2014 12
Graph 10: Secondary Lead 98%min prices in the Chinese spot market in February 2014 12
Graph 11: Secondary Lead 99.97%min EX-VAT prices in the Chinese spot market in February 2014 13
Graph 12: Secondary Lead 99.97%min prices in the Chinese spot market in February 2014 13
Graph 13: Recycled start-type lead battery EX-VAT prices in the Chinese spot market in February 2014 14
Graph 14: Recycled deep cycle lead battery EX-VAT prices in the Chinese spot market in February 2014 15
Graph 15: The processing charges of deep cycle lead battery polar plate in February 2014 16
Graph 16: The processing charges of start-type lead battery polar plate in February 2014 16
Graph 17: Chinese primary lead smelters’ lead ingot production and operation rates Feb 2013 - Feb 2014 18
Graph 18: Recycled lead battery stocks of largest secondary lead smelters in late February 19
Graph 19: Secondary lead inventory of largest smelters at the end of February 20
Graph 20: Large secondary lead smelters' output by region 21
Graph 21: Secondary lead output of Chinese large smelters in 2013-2014 22
Graph 22: China’s lead concentrate import Jan 2013-Jan 2014 25
Graph 23: China’s refined lead export Jan 2013-Jan 2014 27
Graph 24: China’s lead acid battery export in 2013-2014 28
Table 1: World Refined Lead Supply and Usage 2009-2013 17
Table 2: Average operation rates in Henan, Hunan and Yunnan province in January and February 2014 18
Table 3: Lead ingot stocks in Henan, Hunan and Yunnan provinces in late January and late February 2014 23
Table 4: China’s lead import and export data in January 2014 25
Table 5: China’s refined lead export destinations and the export quantity in January 2014 26
Table 6: Top ten Chinese lead ore/concentrate importers in January 2014 29
Introduction 4
1. Financial News Overview 4
1.1 International financial news overview 4
1.1.1 Frigid weather in North America boosts rebound of crude oil futures price 4
1.1.2 US dollar index weakens unexpectedly 5
1.2 Chinese Financial News Overview 6
1.2.1 CPI rises by 2.5% YOY, PPI declines by 1.6% YOY in January 2014 6
1.2.2 PMI continues to fall in February 6
2. International Market Review 7
2.1 Lead futures fluctuate narrowly on the LME in February 7
3. Chinese market review 9
3.1 Chinese lead concentrate market inactive in February 9
3.2 Chinese lead ingot market dull in February 10
3.3 Secondary lead in short supply in February 11
3.4 Recycled lead battery prices start to decrease in February 14
3.5 Lead acid battery market sluggish in February 15
4．Production Data 17
4.1 Global demand of refined lead metal exceeded supply by 22kt in 2013 17
4.2 Lead production in China 17
4.2.1 Chinese primary lead smelters’ operation rate declines to 54.75% in February 2014 17
4.2.2 Recycled lead battery inventory of largest secondary lead smelters down by 28% MOM at the end of February 19
4.2.3 Secondary lead inventory of largest smelters down by 50% MOM at the end of February 20
4.2.4 Secondary lead output of largest smelters down by 18% MOM in February 21
4.2.5 Lead ingot stocks in Chinese primary lead smelters up by 20.67% MOM in late February 2014 22
5. Import and export data in China 23
5.1 Lead import and export data in China by country in January 2014: 23
5.2 Analysis on lead import & export data 25
5.2.1 China’s lead ore/concentrate import up by 14.59% MOM in January 2014 25
5.2.2 China’s refined lead export down by 45.34% MOM in January 2014 26
5.2.3 China’s lead acid battery export up by 20% MOM in January 27
5.3 Top ten Chinese lead ore/concentrate importers in January 2014 28
6．Company News 29
6.1 Shuangyuan’s lead smelter to start operation in May 2014 29
6.2 Haicheng Chengxin’s lead ingot production increases in February 29
7．Related Industry Development 29
7.1 China automobile sales volume breaks record high in January 2014 29
8．Market Outlook 30
Graph 1: Futures prices of crude oil in US 5
Graph 2: USD index chart 5
Graph 3: Chinese CPI and PPI trend 2012-2014 6
Graph 4: China’s PMI index in 2012-2014 7
Graph 5: The price graph of lead futures on the LME in February 2014 8
Graph 6: Lead ingot inventory in the warehouses of LME in February 2014 8
Graph 7: Lead concentrate 60%min prices in the Chinese spot market in February 2014 10
Graph 8: Lead ingot 99.994%min prices in the Chinese spot market in February 2014 11
Graph 9: Secondary Lead 98%min EX-VAT prices in the Chinese spot market in February 2014 12
Graph 10: Secondary Lead 98%min prices in the Chinese spot market in February 2014 12
Graph 11: Secondary Lead 99.97%min EX-VAT prices in the Chinese spot market in February 2014 13
Graph 12: Secondary Lead 99.97%min prices in the Chinese spot market in February 2014 13
Graph 13: Recycled start-type lead battery EX-VAT prices in the Chinese spot market in February 2014 14
Graph 14: Recycled deep cycle lead battery EX-VAT prices in the Chinese spot market in February 2014 15
Graph 15: The processing charges of deep cycle lead battery polar plate in February 2014 16
Graph 16: The processing charges of start-type lead battery polar plate in February 2014 16
Graph 17: Chinese primary lead smelters’ lead ingot production and operation rates Feb 2013 - Feb 2014 18
Graph 18: Recycled lead battery stocks of largest secondary lead smelters in late February 19
Graph 19: Secondary lead inventory of largest smelters at the end of February 20
Graph 20: Large secondary lead smelters' output by region 21
Graph 21: Secondary lead output of Chinese large smelters in 2013-2014 22
Graph 22: China’s lead concentrate import Jan 2013-Jan 2014 25
Graph 23: China’s refined lead export Jan 2013-Jan 2014 27
Graph 24: China’s lead acid battery export in 2013-2014 28
Table 1: World Refined Lead Supply and Usage 2009-2013 17
Table 2: Average operation rates in Henan, Hunan and Yunnan province in January and February 2014 18
Table 3: Lead ingot stocks in Henan, Hunan and Yunnan provinces in late January and late February 2014 23
Table 4: China’s lead import and export data in January 2014 25
Table 5: China’s refined lead export destinations and the export quantity in January 2014 26
Table 6: Top ten Chinese lead ore/concentrate importers in January 2014 29
