SHANGHAI, Mar. 29 (SMM) --
According to China Customs, China's imports of lead concentrate were 101 kt in February, down 6% MoM, and down 13.72% YoY. Fewer working days available for customs application during February due to the Chinese New Year holiday period, and an unfavorable price ratio for imports resulted in lower imports of lead concentrate, but was still in line with market expectations. Imports came mainly from Peru, Australia and the US, while South Africa returned to the top three volume suppliers, with over 10 kt.
According to China Customs, China's imports of refined lead were 417 mt in February, falling by 73.2% MoM and 97.7% YoY. During the Chinese New Year holiday, production and sales at downstream producers was down significantly. Although the domestic/LME lead price ratio has increased since late January, it still remains unfavorable for imports. Korea and Japan were the only two origins of imports, with Korea contributing more. Since late 2009, China's imports of refined lead are coming from a decreasing number of supplier countries.
China's exports of refined lead were 1,590 mt in February, with YTD exports 4,461 mt, up 21.6% YoY. Thailand, Korea, and Philippines were the main export destinations.
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