Shanghai APRIL Pb price at $2,628/tThings r getting very...

Shanghai APRIL Pb price at $2,628/t

Things r getting very TIGHT.

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“ most-traded April lead price stood at 17,585 yuan ($2,628) per tonne as at 9.53am Shanghai time, up by 220 yuan per tonne from Thursday’s closing price of 17,365 yuan per tonne.

Lean’s fundamental backdrop “remains supportive simply because the decline in global mine output in 2018 has negatively affected output of refined metal. Due to low grades and mine disruptions in 2018, global mine output slipped to 4.65 million tonnes from 4.71 million tonnes in 2017”,

Fastmarkets analyst Andy Farida said.“Data on the ground supports this claim as Chinese smelters saw import of lead ores and concentrates fall in 2018 to 624,000 tonnes from the 653,000 tonnes in 2017,” Farida added.”

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