SHANGHAI, March. 7 (SMM) – China’s refined lead exports were 1,438 tons in January, down 45.3% from a month ago, data from China Customs showed.
China maintained more than 2,000 tons of refined lead exports per month since last September under tolling trade practice, with a majority of exporters coming from Hunan province. 96% of total refined lead exports headed to Taiwan, Vietnam, and India in January.
China’s refined lead imports were 26 tons during January, down from December’s 142 tons, China Customs also reported. They mostly came from Japan and Germany.
The Shanghai/LME lead price ratio was only 6.5 during January, which was far from the break-even point for importing. In addition, lead ingot demand from downstream lead-acid battery producers was sluggish due to the Chinese New Year holiday. As a result, these two factors caused a lack of enthusiasm for refined lead import.