SMM May 20 News:
According to the latest customs data, China imported 2,574 mt of die-cast zinc alloy in April 2026, down 20.79% month-on-month. From January to April 2026, China's cumulative imports of die-cast zinc alloy reached 10,636 mt, down 27.96% year-on-year.
Looking at export data, China exported 1,579 mt of die-cast zinc alloy in April 2026, a continued month-on-month increase of 53.33%. From January to April 2026, cumulative exports totaled 3,298 mt, a year-on-year increase of 50.68%.
The weakening of the SHFE-LME ratio in April created a favorable window for exports, while domestic overcapacity and weak downstream demand continued to suppress imports.
Driven by this, China's exports of die-cast zinc alloy continued to grow, while imports kept shrinking. The sustained release of alloy production capacity by domestic smelters, coupled with a lack of new bright spots in downstream consumption, has further compressed import demand.
In April exports, Asian countries and regions accounted for over 95% of the total, with specific destinations as follows:
- Vietnam: 830.8 mt, accounting for 52%, up 159.8 mt month-on-month.
- China Taiwan: 396 mt, accounting for 25%, up 386 mt month-on-month (the most significant increase).
- Bangladesh: 158 mt, accounting for 10%.
- Philippines and Uzbekistan: A combined 118 mt, accounting for 8% (62 mt exported to the Philippines and 56 mt to Uzbekistan).
Export Outlook
Whether die-cast zinc alloy exports can maintain positive growth in the future depends mainly on the following key factors:
Price Ratio Window: Whether the SHFE-LME ratio can remain in a favorable range. This is the core prerequisite for export profitability.
Local Demand: As the largest export market for China's die-cast zinc alloy in the past five years, Vietnam has recently approved the "Medium-term Public Investment Plan for 2026-2030." The implementation of transportation, subway, and ancillary facility projects in provinces such as Dong Nai could provide some support for die-cast zinc alloy demand. Furthermore, the extension of transportation networks is expected to activate the real estate market along the routes, indirectly driving demand for the alloy.
