SHANGHAI, Aug. 31 (SMM) –
China Customs reported that China’s lead concentrate imports fell 6.79% MoM in August to 154,100 mt, but YTD imports through the first eight months increased 19.8% to 1.103 million mt.
SMM noted that China’s lead concentrate imports in August remained high despite a month-on-month fall, indicating consistently tight concentrate supply in domestic markets. 60% of lead concentrates were imported in August from the US, Australia, Peru, and North Korea. Lead concentrate imports from the US and Peru were up sharply in August. Lead concentrate from the Red Dog mine arrived at Chinese ports at the same time as Peruvian concentrates – with other free metals – garnered favor with importers.
Data from China Customs showed that China’s refined lead exports in August decreased 23.42% MoM to 3,035 mt, but YTD exports through the first eight months spiked 88.83% to 22,700 mt. 65% of China’s refined lead was exported to Vietnam and Taiwan. The International Lead & Zinc Study Group (ILZSG) reported that Vietnam and Taiwan posted a shortfall of 25,000 mt and 26,000 mt in lead ingot in the first half of the year.
China imported a total of 8 mt of refined lead in August, which was sourced solely from South Korea. Refined lead imports through the first eight months tumbled 75.76% to 158 mt, 66% of which was imported from Japan and 23% from South Korea.