Chinese crude lead market stable
2014-03-31 10:07:57 [Print]
BEIJING (Asian Metal) 31 Mar 14 - As lead ingot 99.994%min prices fluctuated narrowly in the range of RMB13,700-,13,750/t (USD2,246-2,254/t) on the Chinese spot market, crude lead 98%min market also remained somewhat steady these days.
A source from a Hunan-based lead smelter reported that crude lead supply remained very limited on the local spot market, with most crude lead smelters out of production due to sluggish lead market and strict environmental protection checks.
“Demand for the metal remained strong,” said the source. “With lead ingot 99.994%min prices stabilizing at around RMB13,700/t (USD2,246/t) on the spot market, crude lead market also appeared stable, with prices for crude lead 98%min at around RMB13,100-13,200/t (USD2,148-2,163/t/t) ex works on the local spot market.”
The company’s lead ingot 99.994%min output was only about 700-800tpm, based on its full production capacity of 30,000tpy. “Our lead refinery is unable to operate fully due to the shortage of crude lead supply,” said the source.
A source from a Hunan-based trading company reported that crude lead supply was unable to meet the strong demand from lead refineries on the local market. “Impacted by the strict environmental protection checks, most local small-sized crude lead smelters halted production, leading to the decline of crude lead supply,” said the source.
The source put the prices for crude lead 98%min at around RMB13,100-13,200/t (USD2,148-2,163/t/t) on the local market last Friday, unchanged compared with the previous days.
The source predicted that crude lead supply will remain limited on the spot market, due to the short supply of lead concentrate and low operation rates in lead smelters.
Lead Ingot 99.994%min In warehouse Guangzhou
Unit:RMB/mt
China primary lead producers' suspension number statistics by province by month
Unit: pcs
