SHANGHAI, May 15 (SMM) - The average operating rate of die-casting zinc alloy enterprises in SMM’s old survey sample was 31.78% in April, down 0.34 percentage point month on month and 5.83 percentage points year on year. The average operating rate in the new sample was 44.44%, a drop of 1.55 percentage points MoM and 3.49 percentage points YoY. The decline in operating rates was smaller than expected.
Demand from property and automobile sectors barely improved in April. Exports of hardware kept falling. Sharply falling zinc prices attracted some end users to stock up.
The conversion margins of zinc alloy failed to rise amid oversupply. In Guangdong, Jiangsu and Zhejiang, the conversion margins of 3# and 5# zinc alloy were 500-700 yuan/mt and 900-1,100 yuan/mt respectively. In Fujian, the conversion margins of 3# and 5# zinc alloy were 450-650 yuan/mt and 850-1,050 yuan/mt respectively.
Die-casting zinc alloy plants generally reduced raw material inventories slightly amid bearish stance over future zinc prices.
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