[SMM Survey: Import Window Closed, Lead Concentrate Imports Fell Below 100,000 mt in November]
In Q4 2024, the import window for lead concentrate closed, marking the end of theoretical import profit in the market. With smelters' H2 import orders arriving intensively, smelters' purchasing demand and quotations decreased, leading to a renewed downturn in the domestic lead concentrate trading market. According to customs data, lead concentrate imports in November 2024 totaled 94,900 mt, down 41.96% MoM and 1.56% YoY. Cumulative lead concentrate imports in 2024 reached 1.1444 million mt (metal content), up 4.22% YoY.
