China’s Zinc Concentrate Imports Surge in November 2024

China’s imports of zinc concentrate reached 455.9 thousand tonnes in November 2024, marking a 37.73% month-on-month increase and a 45.01% rise compared to the same period last year. From January to November, total zinc concentrate imports amounted to 3.6398 million tonnes, reflecting a 14.98% year-on-year decline.

In November, the top suppliers of zinc concentrate to China were Peru (95.1 thousand tonnes, +20.87%), the United States (79.3 thousand tonnes, +17.40%), and Australia (73.4 thousand tonnes, +16.10%). However, imports from other countries, including Iran, Vietnam, Mexico, and Kazakhstan, experienced varying degrees of decline.

Experts from the Shanghai Metals Market (SMM) attribute the surge in November imports to two key factors: the continued delivery of previously ordered ore shipments to Chinese smelters and reduced supply from overseas smelters in recent months. Despite the November increase, SMM forecasts a slight decline in zinc concentrate imports for December, though the drop is expected to be limited.