July has passed, and under the continued supply-demand mismatch, domestic and international zinc concentrate TCs have kept falling.

According to the latest customs data, zinc concentrate imports in November 2023 were 314,000 mt (physical content), a month-on-month decrease of 27.67% and a year-on-year decrease of 30.01%. Total zinc concentrate imports in 2023 were 4.2813 million mt (physical content), a year-on-year increase of 15.1%.

Last Friday, LME zinc opened at US$2,634/ton and reached a low of 2,629 yuan/ton. Entering the night trading period, LME zinc reached a high of US$2,675 and finally closed up at $2,662/ton, up $35/ton, or 1.33%.

The SHFE market was closed last Friday evening. LME copper opened at $8620.5/mt and closed at $8536.5/mt.

According to Customs data, China’s zinc concentrate imports in June 2023 were 390,600 mt (physical content), an increase of 13.49% month-on-month, and a year-on-year increase of 33.16%. YTD import volume of zinc concentrate through June was 2.2782 million mt (physical content), an increase of 25.36% year-on-year.

Last week, the domestic zinc concentrate TCs held stable amid low zinc prices which significant reduced profits at mines and smelters. TCs of imported zinc concentrate were lowered to $170-180/dmt (dry metric tonne).

The domestic zinc concentrate TCs for April are expected to dip 150 yuan/mt in metal content MoM to 4,900 yuan/mt.

SHANGHAI, Mar 16 (SMM) – The import window looks unlikely to open in March.

SHANGHAI, Feb 14 (SMM) - According to customs data, China imported 415,200 mt of zinc concentrates in December 2022, down 7.58% on the month, but up 72.8% on the year.