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China Zinc Imports Rise 116.5% in April
Jun 3,2013 14:03CST
smm insight
Source:SMM
China Customs reported that China imported 160,300 mt of zinc concentrate in April, up 116% MoM, and up 29.5% YoY.

SHANGHAI, Jun. 3 (SMM) - China Customs reported that China imported 160,300 mt of zinc concentrate in April, up 116% MoM, and up 29.5% YoY. YTD imports through April were 580,000 mt, down 11.35% YoY.

Zinc imports soared to a high in April due mainly to steady demand and import profits.

Although zinc prices remained weak at the end of Q1, a recent SMM survey shows the average operating rate at domestic smelters remained high at 73%, with only a small number of enterprises cutting or suspending production.

Meanwhile, the SHFE/LME zinc price ratio rose to 7.9 in mid-April, and importers did not lower TC. SMM understands import TC in Q1 was concentrated between USD 125-135/mt, flat with early this year. As a result, domestic smelters interest in purchasing imported ore strengthened.

India was the largest supplier with 54,400 mt. Imports from Australia were 52,500 mt.

The SHFE/LME zinc price ratio in May remained profitable, but since demand for zinc concentrate was refrained by increasing smelters cutting or suspending production, import growth should be limited.
 

China Zinc Imports

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