Import and export volume of die-casting zinc alloy in April decreased both MoM and YoY [SMM Analysis]

In terms of exports

According to the latest customs data, the export volume of zinc alloy in April 2024 was 275.59 mt, down 12.85% MoM and 2.96% YoY. The cumulative export volume of zinc alloy from January to April 2024 was 1087.29 mt, down 18.31 percentage points YoY, indicating a significant reduction trend in zinc alloy exports.

By country, in April 2024, Vietnam imported 163.72 mt of zinc alloy from China, accounting for 59.41% of China's total zinc alloy exports in April, ranking first. Bangladesh imported 64.44 mt of zinc alloy from China, accounting for 23.38% of the total zinc alloy exports in April, ranking second. Paraguay imported 15.32 mt of zinc alloy from China, accounting for 5.56% of the total zinc alloy exports in April, ranking third, followed by Bakistan and Angola. Compared to March, Uzbekistan saw a significant reduction in imports from China, and the overall export volume was still driven by traditional importing countries, with the pattern unchanged.

SMM believes that the main reason for the decline in the export volume of die-casting zinc alloy in April both MoM and YoY was the significant reduction in exports to Uzbekistan. In March, the export volume to Uzbekistan was 111.52 mt from Xinjiang Uygur Autonomous Region, while in April, only 552 kg was shipped to Uzbekistan from Zhejiang Province. As expected last month, overseas consumption weakened, leading to a decrease in zinc alloy export volume.

Entering May, the SHFE/LME zinc price ratio is running weak, relatively expanding the advantage of low domestic zinc alloy prices, enhancing market competitiveness. However, as the off-season approaches, the zinc alloy export volume may maintain a fluctuating trend.

In terms of imports

According to customs data, the import volume of die-casting zinc alloy in April 2024 was 4,031.52 mt. The cumulative import volume from January to April was 14,875.96 mt.