SHANGHAI, Sep 28 (SMM) – China imported 410,700 mt of zinc concentrate in August, up 142,400 mt from July and 161,000 mt from the same period last year.
Imports from Australia stood at 94,500 mt, accounting for 23% of the total zinc concentrate imports in August. Peru exported 86,300 mt to China, accounting for 21% in August. China imported 37,800 mt from Pakistan, accounting for 9.2% in August.
Imports from Peru increased 74,500 mt from July amid resumed shipments from Peru after production recovered at local zinc producers.
Demand for zinc ore was positive as output at domestic smelters rose sharply. Domestic zinc concentrate supply was tight on the back of low output and shutdown of zinc mines in Q4 in high altitude areas. Demand for zinc imports increased amid restocking for winter by domestic smelters.
Zinc concentrate imports rose sharply in August due to arrivals of zinc ore at ports.
Overseas zinc concentrate supply was tight in September and treatment charges (TCs) fell further to $100-130/dmt. But domestic smelters were reluctant to accept high TCs. SMM estimates that imports of zinc concentrates are expected to decline to 280,000 mt in September.