Lead Concentrate Inventory at Lianyungang Port Remained at a Low Level

SHANGHAI, Apr 24 (SMM) - As of April 21, 2023, the lead concentrate inventory at Lianyungang port remained at a low level of 7,000 mt. SHFE/LME lead price ratio fell after rising briefly, hence the imports of lead concentrate were still in a state of loss. The imports totalled 61,580 mt in March, a year-on-year decrease of 16.08%. The imports of lead concentrate declined as expected amid the sluggish market transactions and are expected to remain stable with slight decline potential in April.

The TCs of lead concentrate dropped slightly to 900-1100 yuan/mt last week. According to SMM research, the overall TCs stabilised as the tight supply of lead concentrates in Henan and Inner Mongolia eased slightly in light of resumption of mines and dressing plants. In Yunnan, Hunan, Guangxi and other regions, the TCs of the supply of lead concentrate with rich content of silver continued to decline, and thus the comprehensive TCs of lead concentrates offered by smelters dropped slightly.