2009 September Pb Imports and Exports Data Analysis

SHANGHAI, Oct. 30 (SMM) --
Imports:
Lead Concentrates:
China's imports of lead concentrate were 165.5kt during September, up 15% MoM.  YTD imports were 1.196 million mt, up 19.4% YoY.  Imports of lead concentrate were from the US, Peru, and Australia, but the proportion of lead concentrate imports from the top 9 countries of origin fell by 6%, forcing domestic lead smelters to search for lead ore from other sources  amid tightening supply and rising prices of lead concentrate.
Refined Lead:
According to China Customs, China's imports of refined lead were 5.9kt during September, up 13% MoM, with YTD imports of 150kt, up 690% YoY.  As the domestic/LME lead price ratio was becoming more favorable for exports during September, most arrivals of imported lead during September were ordered previously or were from long-term import contracts. Lead imports from the UK and Belgium account for 27% of total imports in September.

Exports:
Refined Lead:
China's exports of refined lead were 2,602 mt during September, a new high for 2009.  YTD exports were 16kt, down 49% YoY.  China's refined lead was mainly exported to Thailand, Taiwan, and South Korea.  It is worth noting that China’s exports of lead plate were 2,963 mt during September, up 87% MoM, since lead plate enjoys zero export tariffs.  However, lead plate exports are still unable to contribute significantly to any increase in exports as long as the current condition of strong LME lead prices and weak domestic lead prices exists.

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