SHANGHAI, Dec. 31 (SMM) – Data from China Customs showed refined lead imports were 210 mt, down 51.28% MoM. Imports from January through November totaled 6,465 mt, up 5.4% YoY.

The Shanghai/LME lead price ratio during November averaged 6.8, down sharply from 7.3 in October and unfavorable for importing refined lead. In addition, operating rates at lead-acid battery producers fell further during November, lowering demand for lead while smelters maintained normal output, resulting in a slight surplus of refined lead in domestic markets.

China imported 207 mt of refined lead from South Korea during November, with the remainder coming from Japan. China’s lead imports remain highly dependent on South Korea, with total imports from South Korea during the first 11 months of the year hitting 5,184 mt, 80% of China’s total imports and up 46.39% YoY.

China’s lead exports during November were 209 mt, down 17.4% from October’s 253 mt. YTD exports through November were only 1,759 mt, down nearly 75% YoY. Exports were mainly shipped to Taiwan (China), with the remainder sent to Vietnam, Hong Kong (China), Singapore, and India.