China’s May Zinc Imports Up 154 Percent Year-on-Year

Platts reported that China’s May zinc imports rose 154 percent compared to the previous year, to 55,413 metric tons, due to profit taking and demand from the galvanized steel sector. Antaike zinc analyst Guo Chunqiao believes the nation’s overall zinc demand growth this year will be “relatively low.”

As quoted in the market news:

In January to May, China imported 244,050 mt of refined zinc, up 34% from the first five months of 2012, according to customs data.

‘There’s some room for making profits in May, so attracting imports,’ said Guo Chunqiao, an Antaike zinc analyst. ‘Market players’ speculation is another factor for the higher May imports.’

In April, Antaike predicted China’s 2013 refined zinc consumption would be 5.56 million mt, up 3% from 5.4 million mt in 2012.

The Beijing agency expects China to import 620,000 mt of refined zinc this year, up marginally from 618,000 mt in 2012.

Click here to read the full Platts report.