SHANGHAI, Mar. 3 (SMM) – Inbound shipments of zinc and lead concentrates to China were both down sharply in January 2016, Shanghai Metals Market reports.
“The big drop is due mainly to unfavorable TCs and Chinese yuan’s volatility,” SMM lead and zinc analyst points out.
Taking zinc concentrate as an example, the imported material registered a loss of 300 yuan per tonne (metal content) over domestic resource in December, according to SMM data, depressing import interest.
Moreover, tight liquidity at 2015’s year end also weakened domestic importers’ enthusiasm in imports, SMM analyst adds.
According to China Customs, China imported 254,000 tonnes of zinc concentrate in January, down for the second straight month on a yearly basis. Imports of lead concentrate fell 27.48% year-on-year to 95,000 tonnes, the lowest since March 2014.
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