SHANGHAI, Dec. 28 (SMM) --

Lead Concentrate
According to the China Non-ferrous Metals Industry Association (CNIA), China's lead concentrate output was 148 kt in November, up 9% from October levels.  YTD output was 1.2 million mt, up 15.5% YoY.   All provinces in southwest and central China reported increases in November output on a monthly basis, with the exception of Inner Mongolia, which reported a slight decline.  Output of lead concentrate in north China was down due to cold weather, while production in other regions was stimulated by higher prices due to limited supply. 

Refined Lead
According to CNIA, China's output of refined lead was 305 kt in November, down 19 kt from October levels, a third consecutive month of decline.  YTD output was 3.39 million mt, up 17.3% YoY.  Output of secondary lead during November was down by 13% MoM, with levels below 100 kt.  Any price advantages held by secondary lead were eroded as the low-end price of primary lead fell quickly.  Meanwhile, prices for recycled lead from batteries, a major raw material for secondary lead production, rose, increasing production costs.

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