SHANGHAI, Oct. 29 (SMM) – China imported 232,000 tonnes of lead concentrate in September, jumping 75.08% from August and recording a new high since October 2003, China Customs data revealed.
High operating rates at domestic lead smelters bolster demand for concentrate. Average operating rate at domestic major smelters hit 61.81% in September, almost three percentage points above the average rate of 58.82% in the first three quarters, SMM surveyed.
Price edge of imported concentrate over domestic materials was cited as another reason. Profits from imports were 1,300 yuan per tonne (Pb content) above domestic concentrate in August, 200 yuan per tonne (Pb content) higher than July’s average profit.
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