SHANGHAI Apr.13 (CBI China)--Domestic lead smelting mills increased exports during the past week due to faster rises in LME lead prices compared to domestic market prices, and this situation is expected to continue next week. April exports of refined lead at smelters producing over 50,000mt p.a. should be near 20,000mt, up 100% from the previous three months average.
Domestic smelting mills did not reduce their large export quantities until the reduction in export VAT refund took effect in late 2006. Currently, export quantities appear to be returning to levels before the reduction in VAT refund.