Lead Market Report May 2016
2016-07-14 13:23:10 【Print】
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Introduction 2
1. International market review 3
1.1 LME lead price fluctuates down in May 3
2. Domestic marker review 3
2.1 Prices for Chinese lead concentrate dip in May despite tight supply 3
2.2 Chinese lead ingot market quiet in May 4
2.3 Chinese secondary lead market dull in May 4
3. Monthly output data 5
3.1 Global supply of refined lead metal witnessed a surplus of 29,000t in the first three months of 2016 5
3.2 Statistics for Chinese lead output 6
3.2.1 Chinese primary lead smelters’ operating rate down by 2.38% MOM in May 6
3.2.2 Lead ingot stocks at Chinese primary lead smelters up by 20.21% MOM in May 2016 7
4. Import & Export data in China 7
4.1 China's imports for lead concentrate down by 15.71% MOM in April 7
4.2 China’s refined lead exports in April unchanged from March 9
4.3 Top 10 Chinese importers for lead concentrate in April 10
4.4 Specific data for imports of lead ore and concentrate in China during April 10
5． Company news 13
5.1 Xingtai Lead halts secondary lead production in mid May 13
5.2 Jinde Lead’s lead ingot output decreases in May 13
5.4 Baojin Mining to resume lead concentrate production in July 2016 14
5.5 Fuyuan Mining’s lead concentrate project to start construction in late July 14
6．Related industry developments 14
6.1 China’s automobile sales up by 0.9%YOY in March 2016 14
7．Market outlook 15
Graph 1 The price of three-month LME lead futures in 3
Graph 2 Inventories of LME lead ingot in Apr-May 2016 3
Graph 3 Lead concentrate 60%min prices on the Chinese spot market in Apr-May 2016 4
Graph 4 Lead ingot 99.994%min prices on the Chinese spot market in Apr-May 2016 4
Graph 5 Prices for secondary lead 98%min VAT excluded on the Chinese market in Apr-May 2016 5
Graph 6 Prices for secondary lead 99.97%min on the 5
Graph 7 Operating rates of Chinese primary lead smelters from May 2015 to May 2016 6
Graph 8 Operating rates of Chinese primary lead smelters by province from May 2015 to May 2016 6
Graph 9 Lead ingot stocks of Chinese primary lead smelters from May 2015 to May 2016 7
Graph 10 Chinese lead ore/concentrate imports from January 2015 to April in 2016 9
Graph 11 China’s imports of lead concentrate from Australia, Peru, Russia and the US from January 2015 to April 2016 10
Graph 12 Chinese lead ingot exports from January 2015 to April 2016 10
Table 1 World lead supply and demand in Jan-Mar 2016 6
Table 2 China’s lead import and export data in April 2016 8
Table 3 Top 10 Chinese importers for lead concentrate and ore in April 2016 10
Table 4 Imports of lead ore and concentrate during April in China 11
1. International market review 3
1.1 LME lead price fluctuates down in May 3
2. Domestic marker review 3
2.1 Prices for Chinese lead concentrate dip in May despite tight supply 3
2.2 Chinese lead ingot market quiet in May 4
2.3 Chinese secondary lead market dull in May 4
3. Monthly output data 5
3.1 Global supply of refined lead metal witnessed a surplus of 29,000t in the first three months of 2016 5
3.2 Statistics for Chinese lead output 6
3.2.1 Chinese primary lead smelters’ operating rate down by 2.38% MOM in May 6
3.2.2 Lead ingot stocks at Chinese primary lead smelters up by 20.21% MOM in May 2016 7
4. Import & Export data in China 7
4.1 China's imports for lead concentrate down by 15.71% MOM in April 7
4.2 China’s refined lead exports in April unchanged from March 9
4.3 Top 10 Chinese importers for lead concentrate in April 10
4.4 Specific data for imports of lead ore and concentrate in China during April 10
5． Company news 13
5.1 Xingtai Lead halts secondary lead production in mid May 13
5.2 Jinde Lead’s lead ingot output decreases in May 13
5.4 Baojin Mining to resume lead concentrate production in July 2016 14
5.5 Fuyuan Mining’s lead concentrate project to start construction in late July 14
6．Related industry developments 14
6.1 China’s automobile sales up by 0.9%YOY in March 2016 14
7．Market outlook 15
Graph 1 The price of three-month LME lead futures in 3
Graph 2 Inventories of LME lead ingot in Apr-May 2016 3
Graph 3 Lead concentrate 60%min prices on the Chinese spot market in Apr-May 2016 4
Graph 4 Lead ingot 99.994%min prices on the Chinese spot market in Apr-May 2016 4
Graph 5 Prices for secondary lead 98%min VAT excluded on the Chinese market in Apr-May 2016 5
Graph 6 Prices for secondary lead 99.97%min on the 5
Graph 7 Operating rates of Chinese primary lead smelters from May 2015 to May 2016 6
Graph 8 Operating rates of Chinese primary lead smelters by province from May 2015 to May 2016 6
Graph 9 Lead ingot stocks of Chinese primary lead smelters from May 2015 to May 2016 7
Graph 10 Chinese lead ore/concentrate imports from January 2015 to April in 2016 9
Graph 11 China’s imports of lead concentrate from Australia, Peru, Russia and the US from January 2015 to April 2016 10
Graph 12 Chinese lead ingot exports from January 2015 to April 2016 10
Table 1 World lead supply and demand in Jan-Mar 2016 6
Table 2 China’s lead import and export data in April 2016 8
Table 3 Top 10 Chinese importers for lead concentrate and ore in April 2016 10
Table 4 Imports of lead ore and concentrate during April in China 11
