[SMM finishing] production of overseas Zinc Enterprises in the first quarter of 2020 (2)

SMM5, 9 May:

截止本周，海外大部分的锌企业已经发布了2020年一季度的产量报告，SMM整理如下图所示：

At present, it has been announced that the total output of zinc concentrate has increased by 53400 tons compared with the same period last year, which is actually reasonable. However, for the second quarter, due to the raging COVID-19, the impact on the mine is more significant. According to SMM estimates, by the end of April, the announced projects are expected to affect zinc concentrate production of more than 200000 tons, at the same time, many new mine construction projects have stalled, and some enterprises have withdrawn the 2020 production guidelines. As a result, there is no accident that Q2 zinc concentrate production will fall sharply month-on-month in 2020. Since the current overseas epidemic has not been fully brought under control, although some countries have begun to restart their economies, SMM expects that the recovery process of the zinc concentrate supply side will be relatively slow, and taking into account the need to implement contracts affected by the epidemic after the recovery, the actual zinc concentrate overflow is expected to be limited, that is, the total surplus of zinc concentrate supply may be postponed to 2021. For the domestic side, it is expected that the tension at the mine end will continue as expected until mid-late June, and processing fees in some areas will be cut again.

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