SHANGHAI, Mar.28, (SMM) -- Last week, LME and domestic lead spot prices rose steadily and the domestic/LME lead price ratio remained near 6.6, still considered unfavorable for both lead imports and exports. As a result, transactions in the lead import and export market were muted.
According to data from China Customs, China’s refined lead imports in February were 522 mt, up 25.39% MoM. YTD imports from January to February were 1,002 mt, down 49.22% YoY. China’s refined lead exports were 1,201 mt, down 24.46% MoM, while YTD exports from January to February were 3,393 mt, down 23.9% YoY.
The domestic/LME lead price ratio remained between 6.47-6.99 in February, unfavorable for lead exports, which resulted in two consecutive months of lower lead exports. Although lead imports were up, they were still considered low. The top three suppliers to China of imported lead in February were South Korea, Australia, and Russia. Imports from South Korea increased 194 mt from January, contributing most to the increase in imports. China exported 802 mt of lead to Thailand in February, accounting for 66% of total exports. The top three buyers of Chinese lead exports were Thailand, South Africa, and Malaysia.
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