2010 February Zn Imports and Exports Data Analysis

SHANGHAI, Mar. 29 (SMM) --
Zinc Concentrate:
According to China Customs, China's imports of zinc concentrate were 325 kt during February, down 4.4% MoM, and with YTD imports at 665 kt, up 33.6% YoY.  China's dependence on imported zinc concentrate continues to grow as demand for raw materials by domestic smelters increases.  However, zinc concentrate imports during February were down slightly compared with January due to the Chinese New Year holiday period.  SMM predicts imports of zinc concentrate will increase significantly during March.

Refined Zinc:
According to China Customs, China's imports of refined zinc were 14 kt duirng February, down 51.7% MoM, while  YTD imports were 43 kt, down 52% YoY.  Dramatic declines in refined zinc imports were due primarily to the Chinese New Year holiday period and an  unfavorable SHFE/LME zinc price ratio near 8.0.

China's exports of refined zinc were 5,833 mt during February, down 40% MoM, while YTD exports were 16 kt, up 408.1% YoY.  Although exports of refined zinc were up sharply on a yearly basis, there is need for further development of exports in 2010.

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