China Lead Output Sees Slower Growth in H1-Shanghai Metals Market

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China Lead Output Sees Slower Growth in H1

Data Analysis 05:31:23PM Aug 02, 2013 Source:SMM
SHANGHAI, Aug. 2 (SMM) – China produced 412,100 mt of refined lead in June, up 4.54% MoM, data from China Nonferrous Metals Industry Association (CNIA) showed. Refined lead output through first half of 2013 totaled 2.27 million mt, up 12.38% YoY based on CNIA data, but up only 3.3% YoY according to SMM statistics. 
 
June’s lead output at primary lead smelters was 294,400 mt, edging up 2.35% from the 287,700 mt in May. The figure was in line with the result of SMM survey which indicated that primary lead smelters’ average operating rate declined 3.93 percentage points to 59.06% in June due to resumption of suspended smelters.

Total output from Wanyang Smelting, Jinli Gold & Lead, Yunnan Tin Group, Shibin, and Gejiu Xingsha Nonferrous, increased nearly 15,000 mt in June. CNIA reported stable lead output in Henan and Hunan – traditional lead producing provinces, but a 10% output growth to 41,000 mt in Yunnan province. However, SMM has learnt that lead output at medium and large smelters in Yunnan slipped slightly in June, and that large amounts of smaller smelters closed or cut production due to falling lead prices and tight raw material supplies. As a result, there was a slim chance that Yunnan’s lead output would see noticeable increase in June.
 
China’s primary lead output was 1.65 million mt through 1H 2013, edging up 4.15% from the 1.58 million mt last year. SMM survey revealed that operating rates at primary lead smelters in 1H dropped from a year earlier, and the output growth was mainly attributed to the expanded total lead capacity. 
 
Secondary lead output climbed 10.46% MoM to 117,700 mt during June. SMM attributes the growing output to two major reasons based on its latest survey. First, primary lead prices showed a sign of stabilizing in June. Second, the upbeat expectation for downstream demand pushed up output in Jiangsu, Anhui, and Hubei.
 
Secondary lead output in the first half also showed a slight YoY growth of 1.13% to 624,600 mt. Production at both primary and secondary lead smelters was dragged down by falling lead prices, tightening raw material supplies and anemic demand. 
 

China Lead Output Sees Slower Growth in H1

Data Analysis 05:31:23PM Aug 02, 2013 Source:SMM
SHANGHAI, Aug. 2 (SMM) – China produced 412,100 mt of refined lead in June, up 4.54% MoM, data from China Nonferrous Metals Industry Association (CNIA) showed. Refined lead output through first half of 2013 totaled 2.27 million mt, up 12.38% YoY based on CNIA data, but up only 3.3% YoY according to SMM statistics. 
 
June’s lead output at primary lead smelters was 294,400 mt, edging up 2.35% from the 287,700 mt in May. The figure was in line with the result of SMM survey which indicated that primary lead smelters’ average operating rate declined 3.93 percentage points to 59.06% in June due to resumption of suspended smelters.

Total output from Wanyang Smelting, Jinli Gold & Lead, Yunnan Tin Group, Shibin, and Gejiu Xingsha Nonferrous, increased nearly 15,000 mt in June. CNIA reported stable lead output in Henan and Hunan – traditional lead producing provinces, but a 10% output growth to 41,000 mt in Yunnan province. However, SMM has learnt that lead output at medium and large smelters in Yunnan slipped slightly in June, and that large amounts of smaller smelters closed or cut production due to falling lead prices and tight raw material supplies. As a result, there was a slim chance that Yunnan’s lead output would see noticeable increase in June.
 
China’s primary lead output was 1.65 million mt through 1H 2013, edging up 4.15% from the 1.58 million mt last year. SMM survey revealed that operating rates at primary lead smelters in 1H dropped from a year earlier, and the output growth was mainly attributed to the expanded total lead capacity. 
 
Secondary lead output climbed 10.46% MoM to 117,700 mt during June. SMM attributes the growing output to two major reasons based on its latest survey. First, primary lead prices showed a sign of stabilizing in June. Second, the upbeat expectation for downstream demand pushed up output in Jiangsu, Anhui, and Hubei.
 
Secondary lead output in the first half also showed a slight YoY growth of 1.13% to 624,600 mt. Production at both primary and secondary lead smelters was dragged down by falling lead prices, tightening raw material supplies and anemic demand.