Chinese lead ingot consumers' purchasing willingness declines
2024-04-25 11:54:24 [Print]
BEIJING (Asian Metal) 25 Apr 24 - The mainstream prices of Chinese lead ingot 99.994%min stand at RMB16,650-16,850/t (USD2,298-2,325/t) Guangzhou warehouse today, up by RMB100/t (USD13.80/t) from yesterday. However, the battery market has gradually entered the off-season and upstream procurement costs increase, leading to a decrease in the purchasing enthusiasm of lead ingot consumers. Most consumers said they reduced their purchasing volume and were unwilling to build stocks at the same time.
A consumer from Henan revealed that they purchased about 300t of lead ingot at RMB16,800/t (USD2,319/t) Ex-vat delivered today, when the suppliers quoted RMB16,800/t (USD2,319/t) and they only negotiated for RMB50/t (USD6.90/t). The consumer reported, "I ever bought 600t at RMB16,650/t (USD2,298/t) last Thursday, when the supplier's quotation at that time was RMB16,750/t (USD2,312/t)". Considering small downstream demand and high raw material costs, the consumer expresses that he would wait on the sidelines towards the market and wait for the price to drop with low purchasing willingness for lead ingot.
The consumer, with an annual consumption capacity of 60,000t of lead ingot, reduces production significantly in April and only consumes around 2,000t, down by 3,500t from last month, holding 800t of stocks at the moment, a decrease of nearly 500t from March.
A consumer from Hebei disclosed that they purchased 200t of lead ingot at RMB16,650/t (USD2,298/t) yesterday and the supplier refused to accept counteroffer. "We originally waited for the price to fall back before buying, but today the price has risen to RMB16,750/t (USD2,312/t). As the cost is too high, we have no intention to buy. If the price can be reduced to about RMB16,000/t (USD2,208/t), we will consider buying", the consumer noted, adding that the current demand from the downstream lead-acid battery industry is too little and they only have 550t in stock and dare not stock up.
Based on an annual consumption capacity of 20,000t of lead ingot, the consumer may use about 1,450t this month, down from 2,000t last month.
A consumer from Henan revealed that they purchased about 300t of lead ingot at RMB16,800/t (USD2,319/t) Ex-vat delivered today, when the suppliers quoted RMB16,800/t (USD2,319/t) and they only negotiated for RMB50/t (USD6.90/t). The consumer reported, "I ever bought 600t at RMB16,650/t (USD2,298/t) last Thursday, when the supplier's quotation at that time was RMB16,750/t (USD2,312/t)". Considering small downstream demand and high raw material costs, the consumer expresses that he would wait on the sidelines towards the market and wait for the price to drop with low purchasing willingness for lead ingot.
The consumer, with an annual consumption capacity of 60,000t of lead ingot, reduces production significantly in April and only consumes around 2,000t, down by 3,500t from last month, holding 800t of stocks at the moment, a decrease of nearly 500t from March.
A consumer from Hebei disclosed that they purchased 200t of lead ingot at RMB16,650/t (USD2,298/t) yesterday and the supplier refused to accept counteroffer. "We originally waited for the price to fall back before buying, but today the price has risen to RMB16,750/t (USD2,312/t). As the cost is too high, we have no intention to buy. If the price can be reduced to about RMB16,000/t (USD2,208/t), we will consider buying", the consumer noted, adding that the current demand from the downstream lead-acid battery industry is too little and they only have 550t in stock and dare not stock up.
Based on an annual consumption capacity of 20,000t of lead ingot, the consumer may use about 1,450t this month, down from 2,000t last month.
