SHANGHAI, Oct. 25 (SMM) – China’s refined lead exports climbed ten-fold in the first nine months of the year as smelters increased outbound shipments via processing trade practice.
Exports of lead metal totaled 14,300 tonnes in the first nine months and were 2,295 tonnes in September alone, 53.6% higher from a month ago, customs data showed earlier this week. Close to 98% of the lead exports went to Thailand and Indonesia, it showed.
Most of the exports were made by companies in Chenzhou export processing zone in Hunan province via processing trade practice, according to SMM’s lead analyst Zhu Rongrong.
Exporting under normal trade practice has remained unpractical with a 10% export duty in place and the recent Shanghai-London lead price ratio , Zhu said, adding the big export volume cannot sustain as a result.
China’s refined lead imports dwindled by 88.7% year-on-year to 659 tonnes in the first nine months with only 5 tonnes in September, the customs data showed.