[SMM data] what are the reasons for the continued decline in zinc concentrate imports in April?

On the 27th of SMM5,

According to the latest customs data, imports of zinc concentrate in April were 179300 tons (physical tons), a decrease of 23000 tons (physical tons) compared with the same period last year, and a decrease of 23000 tons (physical tons) compared with the previous month.

Among them, Peru imported 45800 physical tons, accounting for 26 percent of the total zinc concentrate imports in April, surpassing Australia in the first place, and Australia imported 36500 physical tons, accounting for 20 percent of the total zinc concentrate imports in April. In second place, Spain imported 20500 physical tons, accounting for 11 per cent of total zinc concentrate imports in April.

According to SMM, the main reasons for the decline in imported zinc concentrate in April compared with the same period last year were as follows:

First, Australia, as the first source of zinc concentrate imports in China, was hit by floods from February to March. The transportation of concentrate in the Mount Isa mining area in Queensland was affected to varying degrees, resulting in a sharp decline in Australian imports. It is down nearly 30, 000 tons from 65800 tons last month.

Second, the import window of zinc concentrate continues to close, and the subsequent inflow of zinc concentrate is still suppressed to a certain extent, while the domestic output of zinc concentrate recovers gradually from the winter dressing period, and the demand for imported zinc concentrate gradually weakens.

After May, it is understood that the impact of the flood will not be affected in mid-April, and the transport of mining areas in Australia will be transferred to normal, and if the flood does not affect the production of mining areas in Australia, the subsequent import volume in Australia is expected to be concentrated. However, the domestic follow-up mineral volume has also gradually increased, the superimposed import window has not yet opened, and the subsequent import volume of other countries has maintained a steady and small decline. Taken as a whole, SMM expects imports of minerals to be around 23-250000 physical tons in May.

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