2009 December Zn Imports and Exports Data Analysis

SHANGHAI, Jan. 25 (SMM) --
Zinc Concentrate
According to China Customs, China's imports of zinc concentrate reached 401 kt during December 2009, up 17.8% MoM, with YTD imports in 2009 of 3.85 million mt, up 61.5% YoY. Ample supplies of zinc concentrate guaranteed normal production at domestic smelters, but China's dependency on imported zinc concentrate will remain high in 2010.

Refined Zinc
According to China Customs, China's imports of refined zinc were 19 kt during December 2009, down 10.4% MoM, with the YTD imports of 670 kt, up 265.1% YoY. China's zinc imports have fallen during November and December due to growing domestic supply and a lower SHFE/LME zinc price ratio. However, China's total zinc imports in 2009 set a new high and was partially behind the high domestic zinc inventories.

China's exports of refined zinc were 12 kt during December 2009, up 290% MoM. YTD exports were 29 kt, down 59% YoY, and in line with CBI predictions. China's exports of zinc and downstream zinc products experienced growth during 4Q 2009, a result of growing overseas demand. In this context, SMM believes the export environment will continue to improve in 2010.

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