地址：北京市朝阳区安翔路8号
网址：www.ksdupsdyw.com
由于精炼铅生产超过其消费量,而且没有国内矿山产量,该国也是国际铅浓缩和精炼铅贸易的主要参与者。
此外,第二产业的扩张也导致买家积极争夺废料,特别是在美国,但在欧洲和亚洲其他地方也是如此。
我们回顾了精矿、精炼铅、废电池和新电池贸易的最新趋势以及主要的潜在因素。
提高精矿可用性推动初级产品的增长
2018年,韩国的进口量逐年回升,全球矿产供应量上升了12.3%,但由于重要供应商墨西哥纽蒙特戈尔德公司的佩尼亚索托(peniasñez)煤矿的中断,出口量在2019年略有下降。
2018年的增长主要是由于澳大利亚产量的增加,尽管自该年最后一个季度以来,美国浓缩矿的供应量也有所增加,因为在2018年9月n开始征收5%的关税后,
一些原供应给中国的原料已经在寻求另一个家园。对美国出口数据的分析显示,2018年中国出口大幅下降,从137,000吨降至85,000吨,其中大部分下降发生在最后一个季度。
2019年上半年的数据也表明Y/Y下降。这些浓缩物是由韩国收集的,加拿大和欧洲。对美国出口的钻研显示,
2018年进口到韩国的大多数额外材料来自阿拉斯加(泰克的红狗和海克拉的绿溪),而2019年的额外材料也来自新奥尔良(杜伦的密苏里州东南部)。
Improved concentrate availability has enabled Korea Zinc to lift primary lead output, which we estimate was up by 12% in 2018,
although this was offset by lower throughput of secondary materials, and total refined lead production was actually down by 3.1% from the previous year.
However, it should also be noted that extended maintenance was undertaken during the first quarter.
Output has tracked higher in 2019, reaching its third highest on record in 1Q2019 and exceeding 110,000t only for the third time ever.
Higher primary output at Onsan over the last eighteen months reflects not only the increased availability of concentrates,
but also a reduction in availability of the silver/lead residues from Nyrstar’s Budel smelter, more of which are being sent to Nyrstar’
s Port Pirie smelter with the ramp up of the TSL. These residues are favoured by Korea Zinc over other secondary materials because
of the high silver content. Meanwhile, we estimate that secondary production at other plants in South Korea is on the rise,
resulting in overall growth in secondary production and total refined lead output. CRU is forecasting a rise in South Korean refined production of 1% in 2019 to 774,000t, with total secondary up by 3%.
However, with domestic consumption stable, the country is unable to absorb all the additional refined lead output,
so exports are also increasing. During the first six months of 2019 South Korean exports of refined lead were up by 17% y-o-y to
149,000t, following a 5% rise during 2018. Moreover, imports have declined; data for the first six months of the year show a 13% fall,
from 43,000t to 33,000t, resulting in a 37% rise in net exports from 85,000t to 116,000t.
The pattern of exports has also changed, with a slight shift away from the USA and towards other Asian countries. In 2018,
a tight metal market in China and an open SHFE/LME arb drew metal into China, with a corresponding fall in exports to the
USA and a slight drop in shipments to India. This year has seen a further rise in exports to China and a recovery in exports to In
dia, while those to the USA have continued to fall. Exports to the USA during the first six months of this year totalled 38,000t, down from the
49,000t exported a year ago. It is worth noting here that all of the exports to China have been of primary le
ad from Korea Zinc’s Onsan smelter. This is one of the few grades of lead that are acceptable to Chinese battery makers.
最后一个要考虑的问题是新型汽车和工业铅基电池的贸易。新车销售的放缓和国内汽车人口的日益成熟对国内汽车电池市场产生了影响,而国内汽车电池市场也出现了放缓。
韩国电池制造商正寻求出口更多的电池,而进口也有所下降,今年前六个月汽车电池净出口总量上升了6.5%,达到20.9亿台。货物由澳大利亚、其他亚洲、南美和非洲国家运送。
