2014 Annual Report on Lead Market
2015-04-07 19:10:23 【Print】
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Catalogue
Introduction 5
1 Financial overview 6
1.1 International financial overview 6
1.1.1 Strong rebounding of US economy and intention in raising interest rates by the Fed 6
1.1.2 Emerging economies saw rapid currency depreciations with economic stalling 6
1.1.3 Eurozone QE policy was on the agenda due to high deflation and low growth 7
1.1.4 Japan's economic recovery still uncertain after the failure of Abenomics’s short-term goals 7
1.1.5 Global economic recovery less-than-expected and sharp price falls for crude iron ore 7
1.2 Review on domestic macro-economic of China 8
1.2.1 China saw a steady economic growth after overcoming various difficulties 8
1.2.2 Central Bank of China expected to release liquidities in 2015 9
2. Lead market review 2014 10
2.1 LME lead futures retreat during 2014 10
2.2 Chinese market review 12
2.2.1 Chinese primary lead ingot market review 12
2.2.2 Chinese lead concentrate market review 13
2.2.3 Chinese secondary lead market’s review 15
2.2.4 Chinese recycled lead battery market’s review 18
6.2.5 Chinese lead acid battery market’s review 19
3．Lead production and demand in 2014 22
3.1 Global lead market supply and consumption in 2014 22
3.1.1 Global market for refined lead metal closely balanced in 2014 22
3.1.2 Global major regions’ refined lead production 2010-2014 22
3.1.3 Global major regions’ lead mining production 2010-2014 23
3.1.4 Global major regions’ refined lead usage 2010-2014 24
3.1.5 Global lead ingot inventories down by 26kt during 2014 25
3.2 Lead production in China 25
3.2.1 China’s lead concentrate output down by 4.84% in 2014 25
3.2.2 China’s refined lead production 26
3.2.2.1 China’s refined lead output declines by 5.5% in 2014 26
3.2.2.2 China’s refined lead production by province in 2014 27
3.2.2.3 China’s major primary lead smelters’ operating rates during 2014 28
3.2.2.4 China’s primary lead smelters’ lead ingot inventory in 2014 29
3.2.3 China’ s secondary lead output during 2014 30
3.2.4 Medium-to-large secondary lead construction or expansion projects lag behind schedule in 2014 32
4. Consumption structure of China’s lead market 33
4.1 Consumption structure of China’s lead market in 2014 33
5．China’s lead import and export data in 2014 34
5.1 Analysis of lead concentrate import & export data 34
5.1.1 China’s lead ore/concentrate imports up by 21.41% YOY in 2014 34
5.1.2 TCs for imported lead concentrate continue to hike up in China in 2014 39
5.1.3 China’s major lead smelters’ lead ore/concentrate imports in 2014 up by 13.94% YOY 40
5.2 Analysis of refined lead import & export data 43
5.2.1 China’s refined lead export up by 59% YOY in 2014 43
5.3 Chinese lead acid battery export volume increases by 27.6% YOY in 2014 45
6．Market Outlook 46
6.1 Global economy outlook in 2015 46
6.2 Lead acid battery market outlook in 2015 46
6.3 Lead market outlook 2015 46
Graph 1: Economic growth of China from 2007 to 2014 9
Graph 2: Three-month lead futures on the LME during 2014 11
Graph 3: Lead ingot inventories in LME warehouses during 2014 12
Graph 4: Lead ingot 99.994%min prices on the Chinese spot market in 2014 13
Graph 5: Lead concentrate 60%min prices on the Chinese spot market in 2014 14
Graph 6: Secondary Lead 98%min EX-VAT prices on the Chinese spot market in 2014 16
Graph 7: Secondary Lead 98%min prices on the Chinese spot market in 2014 16
Graph 8: Secondary Lead 99.97%min EX-VAT prices on the Chinese spot market in 2014 17
Graph 9: Secondary Lead 99.97%min prices on the Chinese spot market in 2014 17
Graph 10: Recycled start-type lead battery EX-VAT prices on the Chinese spot market in 2014 18
Graph 11: Recycled deep cycle battery EX-VAT prices on the Chinese spot market in 2014 19
Graph 12: Processing charges for deep cycle lead battery polar plate in 2014 21
Graph 13: Processing charges of start-type lead battery polar plate in 2014 21
Graph 14: China’s lead concentrate production 2008-2014 26
Graph 15: China’s refined lead output 2001-2014 27
Graph 16: China’s major primary lead smelters’ lead ingot output and operation rates Jan-Dec 2014 29
Graph 17: China’s major primary lead smelters’ lead ingot inventories at the end of each month of 2014. 30
Graph 18: Chinese medium-to-large secondary lead smelters' output from 2013 to 2014 31
Graph 19: Chinese lead consumption structure 33
Graph 20: Chinese lead acid battery Distribution 34
Graph 21: China’s lead ore/concentrate import 2010-2014 35
Graph 22: China’s monthly lead ore/concentrate imports from January 2013 to December 2014. 36
Graph 23: Lead ore/concentrate imported from Australia by China from January to December 2014 37
Graph 24: lead ore/concentrate imported from Peru by China from January to December 2014 38
Graph 25: China’s imported lead ore/concentrate in 2014: 39
Graph 26: Treatment charges of China’s imported lead concentrate 50%min in 2012-2014 40
Graph 27: China’s refined lead export 2013-2014 44
Graph 28: China’s lead acid battery export Jan-Dec 2014 45
Table 1: World Refined Lead Supply and Usage 2006 – 2014 22
Table 2: Global refined lead production by country 2009-2013 23
Table 3: Global lead mining production by country 2009-2014 24
Table 4: Global refined lead usage by country 2010-2014 25
Table 5: Global lead ingot inventories 2010-2014 25
Table 6: China’s refined lead production by province in 2013 28
Table 7: The construction progress of Chinese medium-to-large secondary lead projects 33
Table 8: China’s imported lead ore/concentrate in December 37
Table 9: Chinese lead smelters’ lead ore/concentrate imports in 2013-2014. 42
Table 10: China’s refined lead export destinations and the export quantities in 2014 44
Introduction 5
1 Financial overview 6
1.1 International financial overview 6
1.1.1 Strong rebounding of US economy and intention in raising interest rates by the Fed 6
1.1.2 Emerging economies saw rapid currency depreciations with economic stalling 6
1.1.3 Eurozone QE policy was on the agenda due to high deflation and low growth 7
1.1.4 Japan's economic recovery still uncertain after the failure of Abenomics’s short-term goals 7
1.1.5 Global economic recovery less-than-expected and sharp price falls for crude iron ore 7
1.2 Review on domestic macro-economic of China 8
1.2.1 China saw a steady economic growth after overcoming various difficulties 8
1.2.2 Central Bank of China expected to release liquidities in 2015 9
2. Lead market review 2014 10
2.1 LME lead futures retreat during 2014 10
2.2 Chinese market review 12
2.2.1 Chinese primary lead ingot market review 12
2.2.2 Chinese lead concentrate market review 13
2.2.3 Chinese secondary lead market’s review 15
2.2.4 Chinese recycled lead battery market’s review 18
6.2.5 Chinese lead acid battery market’s review 19
3．Lead production and demand in 2014 22
3.1 Global lead market supply and consumption in 2014 22
3.1.1 Global market for refined lead metal closely balanced in 2014 22
3.1.2 Global major regions’ refined lead production 2010-2014 22
3.1.3 Global major regions’ lead mining production 2010-2014 23
3.1.4 Global major regions’ refined lead usage 2010-2014 24
3.1.5 Global lead ingot inventories down by 26kt during 2014 25
3.2 Lead production in China 25
3.2.1 China’s lead concentrate output down by 4.84% in 2014 25
3.2.2 China’s refined lead production 26
3.2.2.1 China’s refined lead output declines by 5.5% in 2014 26
3.2.2.2 China’s refined lead production by province in 2014 27
3.2.2.3 China’s major primary lead smelters’ operating rates during 2014 28
3.2.2.4 China’s primary lead smelters’ lead ingot inventory in 2014 29
3.2.3 China’ s secondary lead output during 2014 30
3.2.4 Medium-to-large secondary lead construction or expansion projects lag behind schedule in 2014 32
4. Consumption structure of China’s lead market 33
4.1 Consumption structure of China’s lead market in 2014 33
5．China’s lead import and export data in 2014 34
5.1 Analysis of lead concentrate import & export data 34
5.1.1 China’s lead ore/concentrate imports up by 21.41% YOY in 2014 34
5.1.2 TCs for imported lead concentrate continue to hike up in China in 2014 39
5.1.3 China’s major lead smelters’ lead ore/concentrate imports in 2014 up by 13.94% YOY 40
5.2 Analysis of refined lead import & export data 43
5.2.1 China’s refined lead export up by 59% YOY in 2014 43
5.3 Chinese lead acid battery export volume increases by 27.6% YOY in 2014 45
6．Market Outlook 46
6.1 Global economy outlook in 2015 46
6.2 Lead acid battery market outlook in 2015 46
6.3 Lead market outlook 2015 46
Graph 1: Economic growth of China from 2007 to 2014 9
Graph 2: Three-month lead futures on the LME during 2014 11
Graph 3: Lead ingot inventories in LME warehouses during 2014 12
Graph 4: Lead ingot 99.994%min prices on the Chinese spot market in 2014 13
Graph 5: Lead concentrate 60%min prices on the Chinese spot market in 2014 14
Graph 6: Secondary Lead 98%min EX-VAT prices on the Chinese spot market in 2014 16
Graph 7: Secondary Lead 98%min prices on the Chinese spot market in 2014 16
Graph 8: Secondary Lead 99.97%min EX-VAT prices on the Chinese spot market in 2014 17
Graph 9: Secondary Lead 99.97%min prices on the Chinese spot market in 2014 17
Graph 10: Recycled start-type lead battery EX-VAT prices on the Chinese spot market in 2014 18
Graph 11: Recycled deep cycle battery EX-VAT prices on the Chinese spot market in 2014 19
Graph 12: Processing charges for deep cycle lead battery polar plate in 2014 21
Graph 13: Processing charges of start-type lead battery polar plate in 2014 21
Graph 14: China’s lead concentrate production 2008-2014 26
Graph 15: China’s refined lead output 2001-2014 27
Graph 16: China’s major primary lead smelters’ lead ingot output and operation rates Jan-Dec 2014 29
Graph 17: China’s major primary lead smelters’ lead ingot inventories at the end of each month of 2014. 30
Graph 18: Chinese medium-to-large secondary lead smelters' output from 2013 to 2014 31
Graph 19: Chinese lead consumption structure 33
Graph 20: Chinese lead acid battery Distribution 34
Graph 21: China’s lead ore/concentrate import 2010-2014 35
Graph 22: China’s monthly lead ore/concentrate imports from January 2013 to December 2014. 36
Graph 23: Lead ore/concentrate imported from Australia by China from January to December 2014 37
Graph 24: lead ore/concentrate imported from Peru by China from January to December 2014 38
Graph 25: China’s imported lead ore/concentrate in 2014: 39
Graph 26: Treatment charges of China’s imported lead concentrate 50%min in 2012-2014 40
Graph 27: China’s refined lead export 2013-2014 44
Graph 28: China’s lead acid battery export Jan-Dec 2014 45
Table 1: World Refined Lead Supply and Usage 2006 – 2014 22
Table 2: Global refined lead production by country 2009-2013 23
Table 3: Global lead mining production by country 2009-2014 24
Table 4: Global refined lead usage by country 2010-2014 25
Table 5: Global lead ingot inventories 2010-2014 25
Table 6: China’s refined lead production by province in 2013 28
Table 7: The construction progress of Chinese medium-to-large secondary lead projects 33
Table 8: China’s imported lead ore/concentrate in December 37
Table 9: Chinese lead smelters’ lead ore/concentrate imports in 2013-2014. 42
Table 10: China’s refined lead export destinations and the export quantities in 2014 44
