[Pb] Import Volumes and Value of Lead Ores up at Erlian Port in First 5 Months 2009

SHANGHAI, June 18 (CBI China) -- According to latest news from Erlian customs, import volumes of lead ore experienced substantial increases in Erlian Port since 2009. According to Erlian customs statistics, lead imports reached 12.8kt from January to May, the value was USD 9.93 million and the customs imposed RMB 11.54 million of tax, up 172.34%, 23.52% and 56.25% YoY, respectively.

    There are two reasons for the growth of lead ore imports. First, international metal prices declined markedly due to international financial crisis, leading to significant declines in the price of imported lead ore, down 54.31% YoY during the first 5 months, which stimulated the import volumes; second, a portion of domestic mines, especially the low-grade mines, postpones their production resumption due to much lower prices, while large mines held cargos due to less profit margins, leading to tightening domestic lead concentrate supply and increasing import volumes.

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