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Lead Concentrates:
According to CNIA, China's output of lead concentrate was 132kt during September, up 6% MoM. YTD output was 915.4kt, up 8.3% YoY. China's lead concentrate output in September set a new high for 2009, while the record high output of lead concentrate occurred in June 2008. Lead prices stabilized at RMB 15,000/mt during September after declining during the financial crisis, and selected mines restarted capacity based on their production plans for 2010, helping increase lead concentrate supply.
Refined Lead:
According to CNIA, China's output of refined lead was 335kt during September, down 17.6kt from August levels. YTD output was 2.76 million mt, up 20% YoY. As output of primary lead increased by 3kt on a monthly basis, the drop of 20kt in secondary lead contributed to the MoM decline in refined lead output during September. Lead output fell in Henan, Hunan, Guangxi, and Jiangsu provinces as expected, while lead output in Yunnan province grew by 10kt on a monthly basis due to lead price increases.
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