SMM5, 13 March:

As of this week, Lianyungang stocks 215000 tons, an increase of 15000 tons from the same period last month, stocks returned to high levels.

In April, due to the impact of the overseas epidemic, zinc smelters in some areas were affected to stop their operations, digestion of overseas zinc concentrates was difficult, and the number of zinc concentrates sent to China increased, and the problem of shortage at the supply end of superimposed domestic zinc concentrates was still not completely alleviated. It is still difficult for smelters to buy zinc concentrates, so the volume of imported mines to Hong Kong has increased significantly, reaching a maximum of 230000 physical tons within the month, an increase of about 30, 000 physical tons over the previous month. At the same time, due to the opening of the import window of overseas zinc concentrate, the average profit within the month was more than 300 yuan / physical ton, and the amount of imported zinc concentrate imported from Lianyungang to China reached 15000 tons in the second half of the month.

In May, taking into account the shipping date, overseas countries implemented ban measures at the end of March, affecting the shipment and shipment of imported zinc concentrate, especially Peru, Spain and other countries, as the main source of China's import of zinc concentrate, it is expected that the amount of imported zinc concentrate will be affected from May to June. On the whole, as the amount of zinc concentrate in Lianyungang may decrease obviously in May, and the domestic demand for imported ore is still strong, it is expected that there may be a significant reduction in the inventory of Lianyungang zinc concentrate in May.

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