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China Lead Conc. Imports Spike to 140,300 Tonnes in May, Low-Grade Concentrate Favored

iconJul 10, 2014 16:01
Source:SMM
China’s lead concentrate imports surged in May despite low Shanghai/LME lead price ratio and a weaker yuan, with inbound shipments of low-grade concentrate up noticeably.

SHANGHAI, Jul. 10 (SMM) – China’s lead concentrate imports surged in May despite low Shanghai/LME lead price ratio and a weaker yuan, with inbound shipments of low-grade concentrate up noticeably.

Lead concentrate imports totaled 140,300 tonnes in May, up 45.07% from the 96,700 tonnes in April, and imports through the first five months of 2014 amounted to 627,200 tonnes, up 15.36% YoY, according to China Customs.

SMM learns that a high proportion of these shipments consisted of low-grade lead concentrate. Imports of low-grade lead concentrate from Namibia, Nigeria, South Africa, and Spain rose in May. The share of high-grade lead concentrate imports from the US, Russia, Peru, Australia, and Mexico fell from April’s 50% to 40% in May. Low-grade lead concentrate gained favor with companies suffering losses from imports, since it was more competitive on TC and other metals content in relation to high-grade concentrate.

Arrival of large amounts of term shipments and shortages of lead concentrate in China which prompted lead smelters to import concentrate in order to maintain stable production were also behind May’s higher imports, SMM believes.


 

China lead concentrate imports
China lead concentrate shortage

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