In March 2024, SMM data showed that China's refined zinc production was 525,500 mt, an increase of 23,000 mt or 4.57% month-on-month, but a year-on-year decrease of 5.61%. The total output from January to March was 1.595 million mt, a year-on-year increase of 1.63%, slightly higher than the expected output. Domestic zinc alloy production in March was 94,300 mt, a month-on-month decrease of 920 mt.
In March, the output of domestic smelters recovered. The number of production days in March increased by 2 days compared with February. In addition, the output of smelters in Hunan, Guangxi, Sichuan and other places recovered, contributing a certain amount of output growth. However, the smelters in Inner Mongolia, Qinghai, Hunan and Sichuan undertook maintenance and production cuts, and the output declined to a certain extent.
SMM predicts that domestic refined zinc production in April 2024 will fall by 21,200 mt month-on-month to 504,300 mt, a year-on-year decrease of 6.61%. Total production from January to April will be 2.099 million mt. Production will fall slightly in April, mainly due to routine maintenance of smelters in Gansu and Xinjiang, as well as maintenance and production cuts at some smelters in Henan, Shaanxi, Yunnan, Inner Mongolia and other places due to insufficient raw materials and low profits. The production of smelters in Hunan, Sichuan, Shaanxi, Anhui and other places increased after maintenance.
