SMM Analysis: China Zinc Oxide Exports Fell In September But Imports Grew

According to the latest customs data, zinc oxide exports in September 2023 were 1,093 tons, a month-on-month decrease of 9.12%, and a year-on-year decrease of 34.62% from 1,672 tons in September 2022; cumulative zinc oxide exports from January to September 2023 were 11,783.42 tons, a decrease of 20.51% year-on-year.

In terms of countries, in September 2023, Vietnam imported 410 tons of zinc oxide from China, accounting for 20.22% of China’s total zinc oxide exports in August, ranking first. The Philippines imported China Zinc oxide increased by 484% month-on-month to 146 tons, accounting for 13.35% of the total zinc oxide exports in August, ranking second, contributing a large increase; Pakistan imported 141 tons of Chinese zinc oxide, accounting for 12.85%, ranking firmly in the third place; among them, imports by Myanmar, Canada, and Brazil have experienced significant month-on-month increases; while the decline in imports by Vietnam, Thailand and other countries has led to reductions in China’s exports; Pakistan and the United States have seen significant increases in zinc oxide imports from China.

Taken together, export volume declined in September due to a combination of factors such as domestic semi-steel tire production at a high level, pre-holiday stockpiling and high production of synthetic rubber. Zinc oxide export volume is expected to remain low in October.

According to customs data, zinc oxide imports in September 2023 were 511.74 tons, a month-on-month increase of 101.14%, and a year-on-year increase of 30.55% from 392 tons in September 2022; the cumulative zinc oxide imports from January to September 2023 were 4,084 tons, a year-on-year decline of 22.5%. The domestic demand pushed up zinc oxide imports from August.