2009 November Pb Imports and Exports Data Analysis

SHANGHAI, Dec. 28 (SMM) --

Imports
Lead concentrate
According to China Customs, China's imports of lead concentrate were 147.7 kt, up 3% MoM.  YTD imports were 1.49 million mt, up 11.2% YoY.  Although imports still reported increases on a monthly basis, the growth of imports during November was still down from a year earlier, and was closely linked to the low domestic/LME lead price ratio, which restricted lead imports.  The top three origins of imports during November included the two traditional suppliers,  the US and Peru, along with Russia, which contributed 11 kt.

Refined Lead
According to China Customs, China's imports of refined lead were 1,716 mt in November, down 42% from October.  YTD imports were 155 kt, soaring 439% YoY.  The sharp decline during November for imports of refined lead was expected with the unfavorable domestic/LME lead price ratio.  Most imports were from Korea, Belgium, and Australia. 

Exports
Refined Lead

China's exports of refined lead were 1,827 mt, flat with October levels.  YTD exports were 19.8 kt, down 38% YoY.  Export destinations were still Asian countries, including Thailand, Korea, and Philippines.  China's exports of lead plates soared in November to 8,698 mt, up 87% MoM.  Although the domestic/LME lead price ratio was positive for exports, and the exports of lead plates with no tariffs were able to relieve some of the producer inventory pressure, overseas demand for lead plate was still not strong.  November exports of lead plates failed to surpass 9,000 mt, and this level was still unable to significantly reduce the domestic lead supply surplus.

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