China’s Refined Lead Imports down 87.77% YoY; Refined Lead Exports up 890%YoY in 2013

SHANGHAI, Jan. 29 (SMM) - China’s refined lead exports were 2,631 tons in December, up 17.67% from a month ago, and the total exports in 2013 were 21,900 tons, up 890% from a year earlier, data from China Customs showed.

Lead ingot shortages overseas and falling Shanghai/LME lead price ratio were preferable for China’s lead ingot exports. Most of China’s lead ingots were exported to Thailand, Indonesia, South Korea, Taiwan, and Vietnam in 2013.

China’s refined lead imports were 142 tons in December, up from November’s 20 tons, and the total imports in 2013 were 835 tons, down 87.77% from a year earlier, China Customs also reported.

China’s downstream lead-acid battery producers were largely depleting finished goods inventories in 2013. In addition, the Shanghai/LME lead price ratio fell to 6.7 from 2012’s average of 7.5, due to lead ingot shortages overseas. The low ratio, combined with oversupply of domestic refined lead, resulted in weak demand for refined lead imports in 2013. Among all suppliers, Vietnam and South Korea accounted for 93% of China’s total refined lead imports in 2013.