Chinese lead ingot market stable
2014-05-21 09:36:20 [Print]
BEIJING (Asian Metal) 21 May 14 - Chinese lead ingot market remains steady on Tuesday. Although the Dragon Boat Festival is coming around, consumers seem to have no intention of building lead ingot inventories in the near term. The trading remains dull on the spot market.
A source from a Shanghai-based trading company reported that they sold around 400t of lead ingot 99.994%min at around RMB13,950/t (USD2,287/t) ex works on the Shanghai spot market on Tuesday, the same level compared with on Monday. “Although the three-day holiday is approaching, most consumers still showed low interest in building lead ingot inventories this week,” said the source. “However, we would like to sell the metal at the end of the month, so we will not insist on the offers of around RMB14,000/t (USD2,295/t) in the near term.”
Holding around 700t of lead ingot in stock, the source predicted that lead ingot prices may continue to linger at around RMB13,900-14,000/t (USD2,279-2,295/t) in the near term.
A source from a Fujian-based trading company reported that they sold around 300t of lead ingot 99.994%min at around RMB13,950/t (USD2,287/t) on the Guangdong spot market on Tuesday, unchanged compared with Monday. “The trading remained somewhat dull on the spot market, with consumers watching the market,” said the source. “We expect that lead ingot prices would retreat slightly, so buyers may place more orders.”
The trader holds around 300t of lead ingot in stock and predicts that lead ingot prices may continue to consolidate in RMB13,800-14,000/t (USD2,262-2,295/t) in the near term. Although the Dragon Boat Festival is approaching, there is still no improvement seen in the trading of lead ingot on the spot market.
Lead Ingot 99.994%min EXW China
Unit:RMB/mt
China primary lead producers' output statistics by province by month
Unit: mt
