Exports

According to the latest customs data, China's zinc alloy exports in April were 275.59 mt, down 12.85% MoM and 2.96% YoY. The total exports in January-April were 1087.29 mt, down 18.31 percentage points YoY, indicating a significant reduction in zinc alloy exports.

Vietnam imported 163.72 mt of zinc alloy from China, accounting for 59.41% of the total in April, maintaining the first position. Bangladesh imported 64.44 mt, accounting for 23.38%, rising to the second position. Paraguay imported 15.32 mt, accounting for 5.56%, rising to the third position. Pakistan and Angola followed. Exports to Uzbekistan showed a significant reduction. Overall China’s exports were still driven by traditional importing countries.

SMM believed that the decline in April was contributed to the significant reduction in exports to Uzbekistan. In March, 111.52 mt were exported to Uzbekistan from the Xinjiang Uygur Autonomous Region, while in April, only 552 kg were shipped to Uzbekistan from Zhejiang Province. As expected in March, overseas consumption weakened, leading to a decrease in zinc alloy exports.

Entering May, as the SHFE/LME tin price ratio ran weak, the advantage of low-priced domestic zinc alloy relatively expanded, thereby its market competitiveness was enhanced. However, with the upcoming off season, zinc alloy exports may maintain a volatile trend.

Imports

According to customs data, China's die-casting zinc alloy imports in April were 4,031.52 mt, down 0.84% MoM and 2.41% YoY. The total imports in January-April were 14,875.96 mt, down 14.17% YoY.