BEIJING (Bloomberg) - China, the world's largest producer of lead, had a more than 50% gain in exports of the metal to a five-month high in November as disruptions to shipments from rival suppliers boosted prices.
Lead exports rose to 24,352 metric tonne from 15,781 tonne the previous month, the Beijing-based customs office said on Monday. It was "very profitable for Chinese producers to export the metal" after prices surged, Shenzhen Rongtuo Trading Co. analyst Pang Ying said by phone on Monday.
Lead is this year's best-performing metal, with the benchmark London Metal Exchange contract for delivery in three months rising 59% to settle at $2,650 a tonne on Dec. 21. The price rose to a record $3,890.15 a tonne on October 10.
Prices climbed this year as exports by Ivernia Inc., producer of 3% of the world's lead from its mine in Australia, were banned in March after the discovery of elevated levels of lead in some residents' blood. Ivernia has campaigned to restart exports through Fremantle, saying its plan is safe.
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