SHANGHAI, Sept. 27 (SMM) – SMM calculation based on recent customs and industry association data shows apparent consumption of lead concentrate in August rose 17.24% from July to 1,967,600 metric tons.
The increase in August is mainly resulted from the surge in lead concentrate import. According to customs data, China’s lead concentrate import in August rose 56.87% from July to 141,300 metric tons. Data from China Nonferrous Metals Industry Association shows domestic lead concentrate output in August is 199,200 metric tons, up 1.97% from July. Despite low-selling interest among domestic and overseas smelters due to falling lead prices, domestic lead concentrate production did not experience much impact as summer is still a suitable season for production.
Meanwhile, falling lead prices also provided pricing opportunities for domestic smelters with import needs. Since lead concentrate import volume remained low during the first half of 2011, domestic lead concentrate import surged with falling lead prices, which contributed to the significant increase in August.