China Refined Lead Output Grows in June

SHANGHAI, Aug. 8 (SMM) – Refined lead output in China was up 6.36% MoM to 369,032 mt in June, China’s National Bureau of Statistics reported.

And YTD output through June totaled 1.99 million mt, up 2.77% YoY. The production of lead produced with concentrate as raw materials was 254,632 mt in June, up 15,000 mt from May, and secondary lead output rose by 6,600 MoM.

Average operating rate at domestic major primary lead producers dropped 5.93 percentage points in June. Concentrate supply tightness continued in market and this drove down TCs further. Consequently, a growing number of smelters cut or suspended operation, which may cut lead production to 329,613 mt in June. The rate at major secondary lead smelters fell 0.66 percentage point, resulted by high raw material prices due to supply shortage and weak secondary lead prices. Secondary lead production should fall back from May in June.