SHANGHAI, Aug. 24 (SMM) - China’s zinc concentrate imports in July 2015 were 302,000 tonnes, up 82.58% YoY and 26.09% MoM to hit a new high for the year, according to China Customs.
The jump in zinc concentrate imports is because of expanding profit and supply tightness in South China, which incentivized smelter purchases.
Profit from imported zinc concentrate averaged 400 yuan per tonne (zinc content) above domestic zinc concentrate in June since an import window opened.
Imports will remain high in August, SMM says, now that import profits continued to increase. Profit from imported zinc concentrate was 800 yuan per tonne (zinc content) above domestic zinc concentrate recently, SMM reports.
China’s zinc concentrate imports in the first seven months of this year were 1.72 million tonnes, up 60% YoY.
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