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How Will Abolishment of Ban on Silver Concentrate Imports Affect China Lead Market?

iconJun 6, 2016 14:55
Source:SMM
Henan Jinli Gold and Lead Group and Yuguang Gold & Lead recently have obtain access to silver concentrate processing trade. What will this mean to China’s lead market?

SHANGHAI, Jun. 6 (SMM) – Henan Jinli Gold and Lead Group and Yuguang Gold & Lead recently have obtain access to silver concentrate processing trade. What will this mean to China’s lead market?

China has abolished its ban on imports of silver concentrate effective November 10, 2015. SMM believes that this will add lead supply pressure to domestic market.

Besides Henan Jinli Gold and Lead Group and Yuguang Gold & Lead, Hunan Jinwang Bismuth Corporation, Jingui Silver Industry and Yuteng Nonferrous Metals are also accessible to silver concentrate processing trade. Of 50,000 tonnes of lead ingot exports in 2015, 99.9% of them were contributed by processing trade on silver concentrate.   

Of the contents that are concluded in silver concentrate, only silver enjoys free tax for processing trade. As such, those lead imports brought to China through silver concentrate will be left in domestic market, which can be reflected by the sharp fall in average lead ingot export, from 3,748 tonnes during January-March to 769 tonnes in April.

Many domestic smelters planned to process silver concentrate imports this year, which is expected to bring at least 100,000 tonnes of lead ingots to China. This will worsen the oversupply situation in China.  


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