Closed import arbitrage window, greater domestic supply lower imports of zinc concentrate in Mar

SHANGHAI, Mar 26 (SMM) – China’s imports of zinc concentrate dropped 33.56% from a year ago and 30.08% from a month ago to stand at 202,309 mt in March, according to data from China Customs.

The import arbitrage window has been closed from the end of January, which kept seaborne materials from entering China. Treatment charges for domestic materials, meanwhile, extended their gains as mines recovered from winter maintenance. This lowered the appeal of imported zinc concentrate to Chinese smelters.

Australia remained the top zinc concentrate exporter to China last month, with Peru as runner-up.

Australia exported some 65,800 mt of zinc concentrate to China in March, accounting for 33% of the total, while materials from Peru took up 17%.

Imports of zinc concentrate are expected to hold stable at 200,000-250,000 mt in April as the import arbitrage window remains closed and as domestic supplies grow further.