2009 May Zn Imports and Exports Data Analysis

SHANGHAI, June 26 (SMM) --
Zinc Concentrate:
According to China Customs, China's imports of zinc concentrate were 301,096mt, down 14% MoM, but YTD imports were 1.34 million, up 57.6% YoY.  The decline in zinc concentrate imports was expected given recent increases in domestic zinc concentrate supply. However, domestic smelter demand will remain high, leaving little possibility of further declines in import volumes of zinc concentrate during June and July.
Refined Zinc:
According to China Customs, China's imports of refined zinc were 95.6kt during May, down 10% MoM.  YTD imports were 412kt, up 656.5% YoY.  The volume of imported zinc ingot has declined  on a monthly basis, and is closely related to changes in the SHFE/LME zinc price ratio. Domestic imports of refined zinc will experience further declines during June when compared to May levels.
China's exports of refined zinc were only 10mt during May, down 97% MoM.  YTD exports were 4,188mt, down 88.42% YoY.
Zinc Oxide:
China's imports of zinc oxide were 1,515mt during May, up 15.2% MoM.  YTD imports were 5,643mt, down 30.7% YoY. It is worth noting that the YoY decline has narrowed since January 2009.
China's exports of zinc oxide were 887mt, down 2.95% MoM.  YTD exports were 4,179mt, down 78.3% YoY. The relatively high decline for YTD exports is a strong indication of weak overseas demand.

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