Lead market report December 2011
2012-03-16 16:48:12 【Print】
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Introduction
There was no new measure about solving the European debt issue being caught up during Europe Summit held in early December, and the long-term reform plan may be put into effect in the second half of 2012. Worries about the deterioration of European debt crisis and slow increase of China economy from the investors continued to dampen the commodity market. The lead futures on the LME and Chinese market lead ingot prices kept lingering at low levels in December. The trading remained inactive in the Chinese lead ingot market. However, the lead ingot inventory held by most lead smelters declined, which underpinned the lead prices in Chinese market. Most Chinese lead smelters suffered the financial strain and shortage of lead ore/concentrate at the end of year.
Catalog
Introduction 4
1. Financial overview 4
1.1 Chinese CPI plummets in November 4
1.2 Chinese PMI rebounds unexpectedly in December 4
2. International market review 5
2.1 The drop of gold and oil prices dampens lead futures on the SHFE 5
3. Chinese lead market review 8
3.1 Dollar index rises, exerting pressure on lead futures on the SHFE 8
3.2 Chinese lead smelters increase lead concentrate inventory before Spring Festival holiday 8
3.3 Lead ingot prices fluctuate narrowly in China in December 10
3.4 Demand for secondary lead softens 11
3.5 Recycled lead acid battery market slows down 13
3.6 Processing fees of lead acid storage battery polar plate decreases dramatically. 15
4. Production Data 15
4.1 Surplus of 159,000t in the global lead market between January and October of 2011 15
4.2 Lead production in China 16
4.3 China lead concentrate production increases greatly in Jan-Nov 2011 17
4.4 Chinese major lead smelters’ lead ingot production up by 3.67% MOM in December 18
4.5 Chinese major secondary lead smelters’ production in December 19
5. Lead import and export data in China 20
5.1 Lead import and export data in China by country: 20
5.2 Analysis on lead import & export data 21
5.2.1 China refined lead import and export market quiet 21
5.2.2 China lead concentrate import up by 15.48% MOM in November 22
5.2.3 China Major Lead Smelters’ lead concentrate import Jan-November 2011 23
5.3 Top ten Chinese lead ore/concentrate importers November 2011 24
5.4 China lead ore/concentrate import data by company in November 2011 24
5.5 China lead acid battery export increases by 22% MOM in November 28
6. Company News 28
7．Related Industry Development 29
7.1 China Automobile sales and production in November 29
7.2 Jiangsu Yuguang Power will start the second phase of the project in March, 2012. 30
7.3 Lead acid battery project of 400KVA to lay the foundation in Wenxi County Shanxi 30
8 . Market Outlook 30
Graph 1 LME lead ingot price trend in December (USD/t) 5
Graph 2 US gold price trend 6
Graph 3 US crude oil price trend 6
Graph 4 USDX trend 7
Graph 5: Lead ingot inventory on the LME in December 2011 7
Graph 6 Lead futures on the SHFE in December 8
Graph 7 Lead concentrate 60%min prices in the Chinese spot market in December 2011 10
Graph 8 Silver prices in the Chinese spot market in December 2011 10
Graph 9 Lead ingot 99.994%min prices in the Chinese spot market in December 2011 11
Graph 10 Secondary Lead ingot 98%min EX-VAT prices in the Chinese spot market in December 2011 12
Graph 11 Secondary lead ingot 98%min prices in the Chinese spot market in December 2011 12
Graph 12 Secondary lead ingot 99.97%min EX-VAT prices in the Chinese spot market in December 2011 13
Graph 13 Secondary Lead ingot 99.97%min EX-VAT prices in the Chinese spot market in December 2011 13
Graph 14 Recycled start-type battery EX-VAT prices in the Chinese spot market in December 2011 14
Graph 15 Recycled deep cycle battery EX-VAT prices in the Chinese spot market in December 2011 14
Graph 16 World Refined Lead Supply and Usage 2006 - 2011: 15
Graph 17 World lead supply and usage Jan-Oct 2011 16
Graph 18 China refined lead production Jan-Nov 2011 17
Graph 19.Chinese secondary lead operating rate in December 20
Graph 20.The following table is about the lead import and export data in November 2011: Unit: ton 20
Graph 21. The total import of lead concentrate declined by 11.4% year-on-year to 1,306,236t in the first eleven months of 2011. 22
Graph 22. The following chart is about Chinese major lead smelters’ lead concentrate import between January and November 2011. 23
Graph 23 Top ten Chinese lead ore/concentrate importers November 2011 and the import quantities 24
Graph 24 China lead ore/concentrate import data by company in November 2011 24
Graph 25 China lead acid battery monthly output in 2011 28
There was no new measure about solving the European debt issue being caught up during Europe Summit held in early December, and the long-term reform plan may be put into effect in the second half of 2012. Worries about the deterioration of European debt crisis and slow increase of China economy from the investors continued to dampen the commodity market. The lead futures on the LME and Chinese market lead ingot prices kept lingering at low levels in December. The trading remained inactive in the Chinese lead ingot market. However, the lead ingot inventory held by most lead smelters declined, which underpinned the lead prices in Chinese market. Most Chinese lead smelters suffered the financial strain and shortage of lead ore/concentrate at the end of year.
Catalog
Introduction 4
1. Financial overview 4
1.1 Chinese CPI plummets in November 4
1.2 Chinese PMI rebounds unexpectedly in December 4
2. International market review 5
2.1 The drop of gold and oil prices dampens lead futures on the SHFE 5
3. Chinese lead market review 8
3.1 Dollar index rises, exerting pressure on lead futures on the SHFE 8
3.2 Chinese lead smelters increase lead concentrate inventory before Spring Festival holiday 8
3.3 Lead ingot prices fluctuate narrowly in China in December 10
3.4 Demand for secondary lead softens 11
3.5 Recycled lead acid battery market slows down 13
3.6 Processing fees of lead acid storage battery polar plate decreases dramatically. 15
4. Production Data 15
4.1 Surplus of 159,000t in the global lead market between January and October of 2011 15
4.2 Lead production in China 16
4.3 China lead concentrate production increases greatly in Jan-Nov 2011 17
4.4 Chinese major lead smelters’ lead ingot production up by 3.67% MOM in December 18
4.5 Chinese major secondary lead smelters’ production in December 19
5. Lead import and export data in China 20
5.1 Lead import and export data in China by country: 20
5.2 Analysis on lead import & export data 21
5.2.1 China refined lead import and export market quiet 21
5.2.2 China lead concentrate import up by 15.48% MOM in November 22
5.2.3 China Major Lead Smelters’ lead concentrate import Jan-November 2011 23
5.3 Top ten Chinese lead ore/concentrate importers November 2011 24
5.4 China lead ore/concentrate import data by company in November 2011 24
5.5 China lead acid battery export increases by 22% MOM in November 28
6. Company News 28
7．Related Industry Development 29
7.1 China Automobile sales and production in November 29
7.2 Jiangsu Yuguang Power will start the second phase of the project in March, 2012. 30
7.3 Lead acid battery project of 400KVA to lay the foundation in Wenxi County Shanxi 30
8 . Market Outlook 30
Graph 1 LME lead ingot price trend in December (USD/t) 5
Graph 2 US gold price trend 6
Graph 3 US crude oil price trend 6
Graph 4 USDX trend 7
Graph 5: Lead ingot inventory on the LME in December 2011 7
Graph 6 Lead futures on the SHFE in December 8
Graph 7 Lead concentrate 60%min prices in the Chinese spot market in December 2011 10
Graph 8 Silver prices in the Chinese spot market in December 2011 10
Graph 9 Lead ingot 99.994%min prices in the Chinese spot market in December 2011 11
Graph 10 Secondary Lead ingot 98%min EX-VAT prices in the Chinese spot market in December 2011 12
Graph 11 Secondary lead ingot 98%min prices in the Chinese spot market in December 2011 12
Graph 12 Secondary lead ingot 99.97%min EX-VAT prices in the Chinese spot market in December 2011 13
Graph 13 Secondary Lead ingot 99.97%min EX-VAT prices in the Chinese spot market in December 2011 13
Graph 14 Recycled start-type battery EX-VAT prices in the Chinese spot market in December 2011 14
Graph 15 Recycled deep cycle battery EX-VAT prices in the Chinese spot market in December 2011 14
Graph 16 World Refined Lead Supply and Usage 2006 - 2011: 15
Graph 17 World lead supply and usage Jan-Oct 2011 16
Graph 18 China refined lead production Jan-Nov 2011 17
Graph 19.Chinese secondary lead operating rate in December 20
Graph 20.The following table is about the lead import and export data in November 2011: Unit: ton 20
Graph 21. The total import of lead concentrate declined by 11.4% year-on-year to 1,306,236t in the first eleven months of 2011. 22
Graph 22. The following chart is about Chinese major lead smelters’ lead concentrate import between January and November 2011. 23
Graph 23 Top ten Chinese lead ore/concentrate importers November 2011 and the import quantities 24
Graph 24 China lead ore/concentrate import data by company in November 2011 24
Graph 25 China lead acid battery monthly output in 2011 28
