Chinese lead ingot consumers show low demand for pre-holiday purchases
2024-04-30 10:44:34 [Print]
BEIJING (Asian Metal) 30 Apr 24 - As lead ingot prices stay at a high level now, this week most consumers are inclined to wait on the sidelines and show low interest in making replenishments before the May Day holiday. Current mainstream prices of Chinese lead ingot 99.994%min stay at RMB16,750-16,950/t (USD2,314-2,341/t) in warehouse Guangzhou, up by RMB50/t (USD6.91/t) from yesterday. Considering that lead ingot prices still hover at a high level and consumers commonly take wait-and-see attitude, insiders believe that the Chinese lead ingot market would still see limited deals by the end of this month.
A consumer in Hebei said, "After we purchased 200t of lead ingot at RMB16,650/t (USD2,300/t) EXW D/P last Tuesday, we made no new purchases yet and today did not send enquiries to suppliers either." He added that they have no intention to buy now as lead ingot prices keep rising and his current 500t stocks are enough for him to maintain normal production for around half a month. He is more inclined to wait on the sidelines for prices to fall to around RMB16,000/t (USD2,210/t) and then he will consider to buy.
With an annual consumption capacity of 20,000t of lead ingot, the consumer used about 1,450t in April, down from 2,000t last month, and holds around 500t oof stock now.
A producer in Hunan revealed that today they sold 80t of lead ingot at RMB16,800/t (USD2,321/t) EXW D/P. "Orders we received last week were largely of over 300 tons per order, while this week we received orders of small quantities," the producer said, adding that, as lead ingot prices are high now, most consumers just wait for prices to move down after the May Day holiday and therefore have no intention to make purchases in the recent two days. The producer believed that Chinese lead ingot prices would witness mild decreases after the holiday.
With an annual production capacity of 200,000t of lead ingot, the producer produced about 11,000t in April, unchanged from last month, and holds no stock at the moment.
A consumer in Hebei said, "After we purchased 200t of lead ingot at RMB16,650/t (USD2,300/t) EXW D/P last Tuesday, we made no new purchases yet and today did not send enquiries to suppliers either." He added that they have no intention to buy now as lead ingot prices keep rising and his current 500t stocks are enough for him to maintain normal production for around half a month. He is more inclined to wait on the sidelines for prices to fall to around RMB16,000/t (USD2,210/t) and then he will consider to buy.
With an annual consumption capacity of 20,000t of lead ingot, the consumer used about 1,450t in April, down from 2,000t last month, and holds around 500t oof stock now.
A producer in Hunan revealed that today they sold 80t of lead ingot at RMB16,800/t (USD2,321/t) EXW D/P. "Orders we received last week were largely of over 300 tons per order, while this week we received orders of small quantities," the producer said, adding that, as lead ingot prices are high now, most consumers just wait for prices to move down after the May Day holiday and therefore have no intention to make purchases in the recent two days. The producer believed that Chinese lead ingot prices would witness mild decreases after the holiday.
With an annual production capacity of 200,000t of lead ingot, the producer produced about 11,000t in April, unchanged from last month, and holds no stock at the moment.
