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Lead Concentrate
According to China Customs, China's imports of lead concentrate were 90.2 kt in April, down 11.53% MoM. YTD imports were 402.2 kt, down 8.61% YoY. This was the lowest monthly import volume of lead concentrate since July 2008, and was a result of the unfavorable price ratio during April. The low import volume also reinforced the growing demand for domestic lead concentrate. Peru, Australia, and Germany were the top three suppliers, but import volumes from Peru in April fell by half, to 17 kt, down from 34 kt in March.
Refined Lead
According to China Customs, China's imports of refined lead were 260 mt in April, down 75.97% MoM. YTD imports were 3,315 mt, down 96.09% YoY. China's exports of refined lead were 1,022 mt in April, down 72.75% MoM. YTD exports were 9,234 mt, up 118.9% YoY. The domestic/LME lead price ratio was in the 6.8-7.1 range in April, creating incentives for exports, but overall imports and exports of refined lead were both down sharply on a monthly basis.
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