SHANGHAI, Dec. 27 (SMM)--
China Customs recently released nonferrous metal import and export data for November. Imports of zinc concentrate were 282 kt during November, down 1.3% MoM, and YTD zinc concentrate imports from January to November were 2.986 million mt, down 13.2% YoY. SMM believes zinc concentrate imports were down MoM in October and November for two reasons. First, since goods ordered in May and July were delivered in August and September, import data for 4Q reflects actual imports for the spot month. Second, TC of imported zinc concentrate averaged USD 120/mt during October and USD 130/mt during November, unfavorable for imports. In addition, zinc concentrate importers preferred spot transactions to long-term contracts due to fluctuating zinc prices, influencing monthly zinc concentrate imports.
According to nonferrous metal import and export data from China Customs, refined zinc imports for November were 23,000 mt, up 3% MoM. YTD zinc imports in November were 288 kt, down 55.7% YoY.
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