SMM, September 20
According to the latest customs data, China imported 2,265.91 tonnes of die-cast zinc alloy in August 2026, down 3.49% month-on-month (MoM) and 30.59% year-on-year (YoY). Cumulative imports from January to August reached 20,492.31 tonnes, down 31.67% YoY. On the export side, China exported 2,216.80 tonnes of die-cast zinc alloy in August 2026, up 51.69% MoM and 198.22% YoY. Cumulative exports from January to August totaled 10,706.51 tonnes, up 171.42% YoY, extending the strong YoY growth trend. Overall, China's die-cast zinc alloy imports and exports in August showed a divergent pattern of "surging exports and slightly declining imports," with exports rebounding strongly after a pullback in July, while imports remained relatively stable.
Import details for August:
Imports (total: 2,265.911 tonnes) remained concentrated in Asia and Oceania, with South Korea, Thailand, and Japan as the main sources. Among them:
South Korea: 994.294 tonnes, accounting for 43.88%, up 184.00 tonnes MoM;
Thailand: 459.819 tonnes, accounting for 20.29%, up 246.80 tonnes MoM;
Japan: 366.992 tonnes, accounting for 16.20%, down 76.00 tonnes MoM;
Australia: 269.978 tonnes, accounting for 11.91%, down 263.13 tonnes MoM;
Hong Kong, China: 54.788 tonnes, accounting for 2.42%, down 22.78 tonnes MoM;
Taiwan, China: 42.764 tonnes, accounting for 1.89%, up 42.70 tonnes MoM;
In addition, Malaysia, Mongolia, and Vietnam imported 25.613 tonnes, 24.890 tonnes, and 24.817 tonnes, respectively.
In terms of import structure, South Korea, Thailand, and Japan were the three largest sources of China's die-cast zinc alloy imports in August, together accounting for 80.37% of total imports for the month. Among them, imports from South Korea and Thailand increased by 184 tonnes and 246.8 tonnes MoM, respectively, becoming the main sources of growth. Meanwhile, imports from Australia fell sharply by 263.13 tonnes MoM, and imports from Japan also declined by 76.00 tonnes MoM.
Export details for August:
Exports (total: 2,216.796 tonnes) remained highly concentrated in Asia, though the concentration decreased compared with July.
Vietnam: 1,293.116 tonnes, accounting for 58.33%, up 64.58 tonnes MoM;
Taiwan, China: 675.725 tonnes, accounting for 30.48%, up 675.73 tonnes MoM;
Thailand: 71.993 tonnes, accounting for 3.25%, up 47.13 tonnes MoM;
Saudi Arabia: 53.965 tonnes, accounting for 2.43%, down 21.04 tonnes MoM;
Singapore: 25.089 tonnes, accounting for 1.13%, up 25.09 tonnes MoM;
Malaysia: 24.361 tonnes, accounting for 1.10%, up 3.69 tonnes MoM;
In addition, Cambodia, Paraguay, and other destinations together accounted for 72.547 tonnes of exports.
In terms of export structure, China's die-cast zinc alloy exports in August remained highly concentrated in the Asian market, with Vietnam alone receiving 1,293.116 tonnes, accounting for 58.33% of total exports for the month, an increase of 64.58 tonnes from July. Meanwhile, Taiwan, China became the largest newly added export destination this month, with exports reaching 675.725 tonnes. In addition, exports to Thailand, Singapore, Cambodia, and other markets also increased, while exports to Bangladesh declined significantly, down 70.02 tonnes MoM. Overall, export market concentration decreased in August, showing a trend of diversification in export destinations.
Looking ahead, the current zinc SHFE/LME price ratio remains at a relatively low level. The relative price advantage of the domestic market and ample supply provide some support for China's die-cast zinc alloy exports, and short-term exports are expected to remain relatively active. Driven by domestic terminal hardware enterprises expanding overseas, Southeast Asia is likely to remain the main destination for China's die-cast zinc alloy exports. On the import side, given ample domestic supply, weak terminal demand, and insufficient price competitiveness of overseas cargoes, the room for import growth is expected to be relatively limited.
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