SHANGHAI, May 15 (SMM) – The US-China trade war is expected to minimally affect China's export of zinc-related products, such as galvanised sheet, zinc alloy and oxide, but to have greater impact on the export of a wider range of consumer goods, which could weigh on upstream zinc.
China's galvanised products market is dominated by exports, with African and South-east Asian nations as major export destinations. Export volume of zinc alloy and oxide stood at lows of around 7,000 mt and 1,000 mt per month, respectively, showed customs data.
Even as the import of zinc concentrate is dependent on tariffs, US zinc concentrate that enters China accounts for only 1% of the total.
US-imported zinc concentrate will be subject to 25% customs duties on June 1, as China announced on May 13 plans to increase tariffs on $60 billion of American goods.