SHANGHAI, Apr. 22 (SMM) –
Citigroup Raised 2013 Lead Price Forecast 3.5%
Citi Research raised its lead price forecast for 2013 3.5% to USD 2,190/mt, and kept forecast for 2014 lead price at USD 2,200/mt unchanged. Besides, the estimated lead price for 2015 was lowered 1.1% to USD 2,225/mt.
An Additional 4.58 Mln mt Resources Discovered in Chifeng
An additional 4.58 million mt resources were discovered in a lead and zinc mine in Chifeng recently in an exploration conducted jointly by Chifeng Institute of Geology & Mineral and Baiyinnuoer Mining with investment totaling RMB 60 million. The service life of the mine was thus extended by some 10 years, which will provide 1,500 jobs.
ILZSG: Global Lead Market in 8,000 mt Surplus Jan-Feb
International Lead and Zinc Study Group (ILZSG) reported April 15 that global lead market was in 8,000 mt surplus during the first two months, compared with 26,000 mt for the same period last year.
According to the ILZSG global refined lead output was 1.683 million mt from January to February this year, higher than the 1.609 million mt a year earlier. The lead consumption for the first two months was 1.675 million mt, higher than 1.583 million mt a year ago.
Japan to Increase Refined Lead Imports with Scrap Lead Snapped by South Korea
Japan is expected to increase refined lead imports as its domestic scrap lead has been snapped up by recyclers in South Korea. Data from South Korea Nonferrous Metals Industry Association, the country’s scrap lead imports from Japan rose 72% last year as its battery manufacturers have ramped up since 2010 production to meet demand from China. In this context, Japan’s traders failed maintain profitability from scrap batteries.