Lead Market Report October 2016

Content
Introduction 3
1 International market review 3
1.1 LME lead futures fluctuate in October 3
2．Chinese market review 3
2.1 Chinese lead concentrate supply limited 3
2.2 Chinese lead ingot prices move up continuouly 2
2.3 Chinese secondary lead prices climb 3
3 Production data 3
3.1 World supply of refined lead metal exceeds demand by 77kt in August 3
3.2 Lead production in China 4
3.2.Asian Metal Copyright2.Asian Metal Copyright1 Chinese primary lead smelters’ operating rates up to 60.2% MOM in October 4
3.2.Asian Metal Copyright1 China’s automobile sales volume increases by 26.Asian Metal Copyright2 Lead ingot stocks at Chinese primary lead smelters down by 43.6% MOM in late October 2016 5
4. Import & Export data in China 5
4.1 Lead import and export data in China by country 5
4.2 Analysis of lead import & export data 7
4.2.Asian Metal Copyright2 Lead production in China 4 3.Asian Metal Copyright1 China’s refined lead exports down by 91.94% YOY in September 7
4.2.2 China’s lead ore/concentrate imports down by 40.9% MOM in September 2016 8
4.3 Top 10 Chinese importers for lead concentrate in September 8
5 Company News 9
5.1 Wanyang Smelting reduces lead ingot outputs for maintenance 9
5.2 Chengxin Nonferrous to resume lead ingot production on October 20th 9
5.3 Red Lead’s lead smelter halts production in mid-September 9
5.4 Huaxin Lead halts secondary lead production 10
5.5 Baiyinnuoer Lead & Zinc Mining to stop selling lead concentrate 10
6 Related industry developments 10
6.1 China’s automobile sales volume increases by 26.14% YOY in September 10
7 Market Outlook 10

Graph content
Graph 1 The price graph of lead futures on the LME in Sep-Oct 2016 3
Graph 2 Lead ingot inventories in LME warehouses in Sep-Oct 2016 3
Graph 3 Lead concentrate 60%min prices on the Chinese spot market in Sep-Oct 2016 2
Graph 4 Lead ingot 99.994%min prices on the Chinese spot market in Sep-Oct 2016 3
Graph 5 Prices for secondary Lead 98%min VAT excluded on Chinese market in Sep-Oct 2016 3
Graph 6 Prices for secondary Lead 99.97%min on the Chinese spot market in Sep-Oct 2016 3
Graph 7 China’s major primary lead smelters’ operating rates in Jan 2015-Oct 2016 4
Graph 8 The average operating rate in lead smelters in Yunnan, Hunan and Inner Mongolia from January 2015 to Oct 2016 4
Graph 9 Chinese primary lead smelters’ stock at month end from January 2015 to Oct 2016 5
Graph 10 Chinese lead ingot exports from 2015 to 2016 7
Graph 11 Chinese lead ore/concentrate imports from January 2015 to September 2016 8
Graph 12 China’s imports of lead concentrate from Australia, Peru, Russia and the US from January 2015 to September 2016 8
Table Content
Table 1 World Lead supply and consumption in 2016 3
Table 2 China’s lead import and export data in September 2016 (unit: tonne) 5
Table 3 Top 10 Chinese importers of lead concentrate and ore and their importing volumes in September 2016 8



.Asian Metal Copyright994%min prices on the Chinese spot market in Sep-Oct 2016 3 Graph 5 Prices for secondary Lead 98%min VAT excluded on Chinese market in Sep-Oct 2016 3 Graph 6 Prices for secondary Lead 99Asian Metal Copyright