SHANGHAI, Jun. 29 (SMM) โ Inbound shipments of zinc concentrate fell to a 24-month low in May, Shanghai Metals Market reports.
According to National Bureau of Statistics, China imported 114,000 tonnes of zinc concentrate in May, down 22.71 per cent month-on-month, and 49.35 per cent year-on-year.
Peru was the top supplier in May, supplying 26,000 tonnes, and Australia was another major supplier, around 21,000 tonnes. However, imports from the two countries are expected to fall sharply, SMM expects.
โOutput of zinc concentrate in Peru and Australia is expected to see a negative growth in 2016, due mainly to closures of mines or production cuts at mines,โ SMM zinc analyst points out.
In June, Chinaโs imports of zinc concentrate are expected to keep falling, SMM foresees.
Domestic smelters show low interest in importing ores due to import losses from sluggish TCs since the beginning of the year, SMM adds.
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