SHANGHAI, Dec. 24 (SMM) – Lead concentrate imports in China recorded this year’s new high of 246,000 tonnes in November, up 53.03% YoY and 20.06% MoM, China Customs data indicated.
High operating rates at domestic lead smelters boosted demand for concentrate. Average operating rate hit a high of 69.78% at 47 domestic major lead smelters in November.
Price edge added attractiveness to concentrate imports. Profits were 500 yuan per tonne (Pb content) above domestic materials in October, narrowing slightly from September but still leaving fat profits for smelters. Also, domestic lead smelters built stocks for winter.
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