Lead Concentrate Imports Rose Sharply in Nov with Concentrated Arrivals of Goods under Long-Term Orders towards Year-End

SHANGHAI, Dec 22 (SMM) - According to customs data, China imported 127,312 mt of lead concentrates in November, a surge of 113.63% on the month and a year-on-year decrease of 10.11%. The imports totalled 950,000 mt from January to November, a decrease of 15.7% on the year. 

The imports totalled 950,000 mt from January to November, a decrease of 15.7% on the year. In October-November, the SHFE/LME lead price ratio turned downwards, followed by the closed import window. In theory, the import losses remained, but the imports of lead concentrates still arrived at ports in a concentrated manner due to the settlement of long-term orders approaching the end of the year. The top three suppliers of lead concentrates to China in November were Russia, the United States and Nigeria, the lead concentrate imports from whom together accounted for 53.47% of the total.  According to SMM survey, the lead concentrate inventory at Lianyungang port has added slightly so far in December, with more lead concentrate imports arriving under long-term orders. However, the forecast remains unchanged that the total imports of lead concentrate in 2022 will see negative growth.