Nigerian lead ore market inactive
2014-09-19 09:18:55 [Print]
BEIJING (Asian Metal) 19 Sep 14 - Impacted by the plenty rainfall, some lead mines are out of production, leading to a decline in lead ore supply in Nigeria. Meanwhile, the demand for lead ore from buyers remains weak, so the trading appeared inactive on the lead ore market.
A source from a Nigerian-based mining company reported that during the rainy season, it is dangerous for their mine to maintain operation, as it may collapse. Therefore, their mine was out of production for over three months. “The trading appeared very subdued on the lead ore market now,” said the source, disclosing that their mine will restart operation next month, when the rainfall will decline.
According to the source, the prices for lead ore 60-65%min prevailed at around USD878/mt FOB Lagos in September. After the mine resumes production, it can supply around 100-120t of lead ore per month.
A source from another Nigerian-based mining company reported, “During rainy season the miners have difficulties in mining the lead ore because of water. Therefore, the supply of lead ore declined on the local market. The trading was inactive on the lead ore market.”
The source put the prices for lead ore 60%min at USD900/t this week, unchanged compared with last week. He is active in seeking for buyers for the material. The supplier can supply around 100t of lead ore 50%min per month.
Lead Conc. TC 50%min CIF China
Unit:USD/mt
China lead concentrate producers' output statistics by province by month
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