China Reports Ample Lead Supply, SMM Says

SHANGHAI, May 2 (SMM) - Primary lead supply remained ample in China’s market in the week ending April 28, SMM learned. Shandong Humon Smelting already resumed operation and will release goods into market on May 10. Production at Xinling Lead Industry and Henan Zhicheng Gold & Lead was also recovered to normal level. It is heard that some small lead smelters in Hunan’s Chenzhou suspended output due to environmental protection inspections. However, Yuteng Nonferrous Metals, Hunan Shuikoushan Nonferrous Metals Group and Zhuzhou Smelter Group had not been affected yet.

Secondary lead supply was also modest due to sluggish downstream demand, despite of falling output. Anhui Huaxin Lead Industry Group started maintenance early last week in response of stricter environmental checks and planned to reopen after May Day holiday. Anhui Huabo Renewable Resources Technology ramped down production, and small secondary lead smelters in many regions closed down.

In other news, as secondary lead supply was tighter than that of primary lead, price gap between the two continued narrowing.

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