November lead and zinc prices in foreign countries under the influence of multiple factors to achieve soaring domestic prices is particularly strong. Month pre-election by the US black swan incident, the market after Trump may take office to expand infrastructure construction on the black, non-ferrous metals and other raw materials to stimulate the formation of expected lead zinc prices rise, London zinc prices hit a maximum of $ 2,895 / Ton, set a high since November 2007. But in the November 29 by oil prices fell and the US election oolong events, London Lead fell sharply by 6.7%.
Supply and demand data: zinc concentrate shortage continues to downstream conduction. January-September 2016, the global refined lead production as a whole to maintain growth. According to the International Lead and Zinc Study Group (ILZSG) statistics and modified by Antaike, in January-September 2016 the global refined lead production was 7.986 million tons, an increase of 4.7%. Global refined lead consumption was 7.992 million tons, according to ILZSG statistics, from January to September 2016, the global refined zinc production was 10.144 million tons, down 3.3%, compared with January-August decrease slightly narrowed. January-September 2016 global refined zinc consumption of 10.426 million tons, an increase of 0.4%. An increase of 4.8%.
Processing fees and operating rate tracking. In October 2016, the mainstream processing cost of domestically produced lead concentrate is between 1400-1600 yuan / ton, and the mainstream processing fee for imported ore is 90-110 US dollars / ton. At present, the processing cost of lead concentrates is further reduced in November. The average level of domestic ore processing fee is 1450 yuan / ton and that of imported ore is 85 dollars / ton. January domestic zinc concentrate processing fees continue to fall, the domestic mainstream processing fees fell faster, according to Shanghai Nonferrous Metals reported that the domestic concentrate TC processing fees in the mainstream range of 4000-4500 yuan / metal tons.
Import data analysis. China’s imports of lead concentrate expanded. January to October total imports of lead concentrate in China 1.138 million tons (to import lead concentrate grade 50% calculated as 56.9 million tons of metal), down 22.3%. Import of zinc concentrate, in October 2016 China imported zinc concentrate 139,000 tons, 9.2% decrease over the previous month, down 56.8%.
Price anticipation. Based on the fundamentals of judgments, is expected in December lead prices are still expected to remain strong, but need to guard against high risk of adjustment. Zinc prices continued to rise in support from the concentration of foreign mines brought about by the decline in supply off, and the price of high consumption from the lower reaches of this year than expected support, despite the strong fundamentals of zinc market support, but the current capital side Driven, including zinc, including commodities generally excessive rise, need to be alert to changes in capital side.