Shanghai Nonferrous Metals News
China imported 692.8 kt (in actual tonne) of zinc concentrate during the first two months of 2020, up 102.1 kt y-o-y. Australia is the largest zinc concentrate supplier to China with 280.6 kt of exports, accounting for 40.5% of the total of January and February. The significant y-o-y rise can be attributed to extended holidays, slow resumptions after the holiday, a lack of workers, restricted movement of goods and workers – all limiting domestic mining activities as a result of the COVID-19 pandemic. Furthermore, with the import arbitrage window opening in February, zinc concentrate imports increased on higher profits.
SMM forecast China’s zinc concentrate imports of 300 kt in March, a relatively high level due to slow resumptions of domestic mining activities.