Lead Concentrate Imports Remain In Losses Amid Steadily Falling SHFE/LME Lead Price Ratio

SHANGHAI, Apr 17 (SMM) - As of April 14, the inventory of lead concentrates at Lianyungang port stood at just 7,000 mt, the lowest so far this year. Lead concentrate imports remained in losses amid steadily falling SHFE/LME lead price ratio. The demand for imported lead concentrates almost stagnated, and the import volume is expected to be relatively low this month. 

The TCs remained between 900-1,200 yuan/mt last week. Most mines and smelters had no intention of adjusting their quotations or inquiry prices. Lead concentrates that contain higher amount of copper, zinc and silver were highly sought after, allowing their TCs to be cut by 50-100 yuan/mt. In April, primary lead output is expected to drop slightly, while mines and dressing plants in north China have resumed production. Yet, lead concentrate supply tightness has shown no signs of easing significantly.