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China importing more lead in Feb, Mar on arbitrage
March 03, 2009 - 06:12 GMT
Location:
Shanghai
KEYWORDS:
lead
,
China
,
imports
,
LME
,
arbitrage
China's lead imports are expected to continue to rise in Feb, mostly due to arbitrage between LME and Shanghai markets, sources told MB.
China imported 4,457 tonnes of refined lead in January, up 34% year-on-year and 209% higher month-on-month, according to customs.
"Shanghai spot lead prices are much higher than that of LME, which has attracted more arbitrage," said a physical trader in Shanghai.
“Almost all trading houses jumped into buying from late January," said an analyst in Shanghai. "That will definitely...
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Euromoney Institutional Investor PLC.
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