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China's Lead Smelters Say Restarts Depend on Price

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SHANGHAI, Sept. 15 -- Officials at Chinese lead smelters ordered to close by the authorities deny that they plan to resume production right after the national day holidays in October.
&nbsp;&nbsp;&nbsp; There was no set window for resumption, which will depend on prices, said smelter and lead association officials.
&nbsp;&nbsp;&nbsp; &quot;The closures were not due to the big event [of the anniversary], but was caused by a serious lead poisoning incident in Shaanxi,&quot; said a physical trader in Shanghai.
&nbsp;&nbsp;&nbsp; Market speculation is that smelters ordered to close on environmental concerns may restart post-holiday as local governments ease up on inspections and return their focus to achieving gross domestic product targets.
&nbsp;&nbsp;&nbsp; &quot;I hear some Yunnan smelters will resume capacities in October, but I do not have a breakdown of either capacities or names of the smelters,&quot; said Hu Yongda, an analyst from Antaike.
&nbsp;&nbsp;&nbsp; However, an official at Yunnan Gejiu Lead Assn told MB he had not heard of any resumption plans.
&nbsp;&nbsp;&nbsp; &quot;We are busy engaged in consolidation of the industry; we are taking this rare chance to update our technical equipment,&quot; he said. &quot;Our plan is to replace old equipment, but honestly, for just one furnace, it costs a large amount of money.&quot;
&nbsp;&nbsp;&nbsp; &quot;Some small smelters are reluctant to do that, as a result, they may be closed forever,&quot; he said. &quot;For those who agree to update the technology, it may take them years to reach full capacity.&quot;
&nbsp;&nbsp;&nbsp; &quot;We have no timetable yet for resuming operation,&quot; said an official at Yuguang Lead and Zinc, China's top lead producer, which has suspended around 60,000 mt/yr of capacity in the past few weeks.
&nbsp;&nbsp;&nbsp; &quot;I cannot say for sure if we will resume operation after October. It largely depends on the supply of concentrates and more importantly, profitability,&quot; he said.
&nbsp;&nbsp;&nbsp; Supply of concentrates remains tight, compared to zinc, and current treatment charges are around USD 85-90/mt, a bit higher than USD 80/mt a week ago, but still below the USD 150/mt needed to cover costs, said the association official.
&nbsp;&nbsp;&nbsp; &quot;Besides, in light of the price gap between Shanghai and LME lead, offers should be no lower than USD 400/mt so as to earn money,&quot; said the Yuguang official.
&nbsp;&nbsp;&nbsp; Shanghai lead is still more than RMB 2,500/mt (USD 366/mt) lower than its LME counterparts on Monday, although LME lead prices have been falling hard in the last few days.
&nbsp;&nbsp;&nbsp; (Source: Metal Bulletin)

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China's Lead Smelters Say Restarts Depend on Price | SMM

China's Lead Smelters Say Restarts Depend on Price

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