China Lead Products Imports Data Analysis in September 2012

SHANGHAI, Nov. 8 (SMM) –

Lead Concentrate
Data from China Customs showed China’s lead concentrate imports during September were 190,800 mt, down 10.82% from August. YTD imports through September were 1.3298 million mt, up 26.45% YoY.

The Shanghai/LME lead price ratio was around 7.3, down sharply from August levels and allowed little profits for importing lead concentrate. In addition, many primary lead smelters had been importing lead concentrate in large amounts since the latter half of June, resulting in adequate lead concentrate inventories during September. In this context, lead concentrate imports fell sharply during September.

September’s lead concentrate imports were mainly supplied by the US, Russia, Peru, and Germany, with imports from those four countries accounting for 54.72% of the total. Imports from Australia, a major supplier during August, were only 5,000 mt in September, well below the average monthly import level from that country.

Refined Lead
According to China Customs, China’s refined lead imports in September were 610 mt, unchanged with the previous month. Total imports during the first nine months of 2012 were 5,823 mt, up 4.97% YoY.

Nearly 99.5% of refined lead imports during September were from South Korea, with the remainder from Japan. China imported 4,581 mt in refined lead from South Korea from January through September, accounting for 78% of the year’s total lead imports, and up by  52.84% YoY. In contrast, imports during the first nine months from traditional major suppliers Japan, Australia, and North Korea all fell by 12.52%, 81.38%, and 42.44% YoY.