According to customs import data, China’s import volume of die-casting zinc alloy from January to September 2024 was 34,698.71 mt, while the export volume was 3,631.73 mt. The net import volume of die-casting zinc alloy was 31,066.98 mt, compared to 45,753.59 mt in 2023 and 60,994 mt in 2022. Why is the import volume of alloy greater than the export volume despite weak downstream consumption of die-casting zinc alloy in China? SMM has conducted the following analysis.
The main reasons for the large import volume of die-casting zinc alloy can be divided into two aspects:
1. According to SMM communication with enterprises, many companies import cost-effective zinc alloys from Southeast Asia and re-melt them to produce new zinc alloys to reduce production costs.
2. Enterprises import high-quality zinc alloys to sell to downstream alloy enterprises with higher quality requirements. Based on communication with die-casting zinc alloy enterprises, another reason for the large influx of zinc alloys into China is that many end-use foreign trade enterprises have high requirements for zinc alloys, such as the need for zinc ingots to be produced abroad or for the zinc alloy itself to be produced abroad. Imported zinc alloys can meet these enterprises' requirements for high-quality materials.
3. Besides the reasons related to enterprises themselves, other factors also drive the large import volume of zinc alloys into Zhejiang and Guangdong regions in China. These factors include convenient transportation and the industrial cluster effect in Zhejiang and Guangdong.
In summary, the large influx of die-casting zinc alloys into China is mainly due to the above three reasons. SMM will continue to monitor changes in the import and export volumes of die-casting zinc alloys in China.
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