2016 Annual Report on Lead Market

Content
Introduction 4
1 Lead market review 2016 4
1.1 Lead futures drop continuously on LME during 2016 4
1.2 Chinese lead concentrate market review 2016 5
1.3 Chinese primary lead ingot market review 2016 5
1.4 Chinese secondary lead market review 2016 6
2 Lead production and demand in 2016 7
2.1 Global lead market supply and consumption in 2016 7
2.2 Analysis on supply and demand in Chinese lead market 7
2.2.1 Lead concentrate output decreases in China in 2016 7
2.2.2 China expects to put 18,000 metal tons of new capacity for lead concentrate into operation in 2017 7
2.2.Asian Metal Copyright1 Industrial use 19 2.Asian Metal Copyright3 Chinese lead ingot output in 2016 up by 12.3% YOY 8
2.2.Asian Metal Copyright3 Lead concentrate imports from China’s major lead smelters in 2016 14 3.Asian Metal Copyright4 Chinese secondary lead output in 2016 down by 1.08% YOY 9
2.2.5 China expects to put 500,000t of new secondary lead capacity into operation in 2017 10
2.2.6 China’s primary lead stocks at the end of each month in 2016 10
2.2.7 China’s secondary lead ingot stocks at the end of each month in 2016 11
3 China’s lead import and export data in 2016 11
3.1 Analysis on China’s lead concentrate imports in 2016 11
3.2 Analysis on China’s refined lead imports during 2016 13
3.3 Lead concentrate imports from China’s major lead smelters in 2016 14
3.3.Asian Metal Copyright1 Analysis on China’s lead concentrate imports in 2016 11 3.Asian Metal Copyright1 Jiyuan Wanyang Smelting’s lead concentrate import up by 103.8% YOY in Jan-Aug 2016 14
3.3.Asian Metal Copyright2.Asian Metal Copyright2 Jinli Gold & Lead’s lead concentrate import down by 32.78% YOY in Jan-Sep 2016 15
3.3.Asian Metal Copyright 11 Graph 13 China’s lead concentrate and ore imports during January 2015 and December 2016 11 Graph 14 China’s monthly lead oreconcentrate imports from Australia, Peru, Russia and US during January to December 2016 12 Graph 15 China’s refined lead exports from January 2015 to December 2016 13 Graph 16 Jiyuan Wanyang Smelting Co.Asian Metal Copyright3 Nanfang Nonferrous Metal’s lead concentrate import up by 158.8% YOY in Jan-Oct 2016 16
3.3.Asian Metal Copyright6 China’s primary lead stocks at the end of each month in 2016 10 2.Asian Metal Copyright4 Zhuzhou Smelter Torch Metal’s lead concentrate import down by 44.45% YOY in Jan-Nov 2016 16
3.3.5 Shandong Humon Smelting’s lead concentrate imports 17
3.3.6 Hunan Yuteng Nonferrous Metals’ lead concentrate imports 17
3.3.7 Henan Yuguang Gold&Lead’s lead concentrate imports 17
3.3.8 Chenzhou Jingui Yinye’s lead concentrate imports 18
3.3.9 Hunan Jinwang Bismuth Industrial’s lead concentrate imports 18
3.3.10 Shenzhen Zhongjin Lingnan Non-ferrous Metal’s lead concentrate imports 18
3.3.11 Anyang Yubei Gold and Lead’s lead concentrate imports 18
4. Lead market outlook in 2017 18
Appendix Basic properties of lead 19
1 Properties of lead 19
2 Usage of lead 19
2.1 Industrial use 19
2.2 Lead in life 19
2.3 Archaeological uses 19
3 Global lead distribution 19

Graph 1 Three-month lead futures on LME in 2016 4
Graph 2 LME’s lead ingot inventories in 2016 5
Graph 3 Prices for lead concentrate 60%min on the Chinese market in 2016 5
Graph 4 Prices for lead ingot 99.994%min on the Chinese market 2016 6
Graph 5 Secondary Lead 98%min prices on the Chinese spot market in 2016 7
Graph 6 Secondary Lead 99.97%min prices on the Chinese spot market in 2016 7
Graph 7 Primary lead smelters’ output in China between January 2015 and December 2016 8
Graph 8 Lead ingot output in part of China in 2016 9
Graph 9 Lead ingot capacity in part of China in 2016 9
Graph 10 China’s major primary lead smelters’ output between January 2015 and December 2016 9
Graph 11 Primary lead stocks of major smelters in China from January 2015 to December 2016. 11
Graph 12 Secondary lead stocks of major smelters in China from January 2015 to December 2016. 11
Graph 13 China’s lead concentrate and ore imports during January 2015 and December 2016 11
Graph 14 China’s monthly lead ore/concentrate imports from Australia, Peru, Russia and US during January to December 2016 12
Graph 15 China’s refined lead exports from January 2015 to December 2016 13
Graph 16 Jiyuan Wanyang Smelting Co., Ltd’s lead concentrate import 14
Graph 17 Wanyang’s lead concentrate import by origins 15
Graph 18 Henan Jinli Gold & Lead Co., Ltd’s lead concentrate import 15
Graph 19 Jinli’s lead concentrate import by origins 16
Graph 20 Hechi Nanfang Nonferrous Metal Smelting Co., Ltd’s lead concentrate import 16
Graph 21 Nanfang’s lead concentrate import by origins 16
Graph 22 Zhuzhou Smelter Torch Metal Imp & Exp Co., Ltd’s lead concentrate import 17
Graph 23 Shandong Humon Smelting’s lead concentrate imports 17
Graph 24 Hunan Yuteng Nonferrous Metals’ lead concentrate imports 17
Graph 25 Yuguang Gold&Lead’s lead concentrate imports 18
Graph 26 Chenzhou Jingui Yinye’s lead concentrate imports 18
Graph 27 Hunan Jinwang Bismuth Industrial’s lead concentrate imports 18
Graph 28 Shenzhen Zhongjin Lingnan Non-ferrous Metal’s lead concentrate imports 18
Graph 29 Anyang Yubei Gold and Lead’s lead concentrate imports 18

Table 1 New lead concentrate projects in 2017 8
Table 2 New secondary lead projects in 2017 10
Table 3 China’s lead concentrate imports by origin in 2016 12
Table 4 China’s refined lead exports by origin in 2016 14
Table 5 Global refined lead output and top 5 refined lead countries from 2011-2015 20

.Asian Metal Copyright1 Global lead market supply and consumption in 2016 7 2Asian Metal Copyright