China moving to being net importer of zinc concentrates-CHR

摘要

The role of China as a major net exporter of zinc units to the rest of the world may be about to change, according to analyst Huw Roberts at CHR Metals Limited. "On the basis of the trade data through to July this year, it is net importer of zinc units in 2002," Roberts said. "As such, while some attention will continue to be paid to how much refined zinc China is exporting, perhaps greater recognition will be made of its role as an importer and consumer of zinc as well," he added. For several years, China has been blamed for at least some of the ills that have afflicted the international zinc market and prices, Roberts said. "Since 1993, China has been an important exporter of zinc concentrates. However, China also trades zinc alloys and semi-products internationally but it has been a net importer of these products rather than an exporter," Roberts said. "Totalling trade in refined zinc, zinc in concentrates, alloys and semi-products, China exported a net 460,000 metric tons of zinc units in 2000. However, as it began to import very large tonnages of zinc concentrates its net exports of all zinc units shrunk to less than 40,000 tons in 2001," he added. Roberts said it is hardly surprising that trade data for China in recent months confirm the trend evident since early in the year of a definite slowing in the pace of refined exports. "China's consumption of zinc continues to grow while output of refined zinc will fall this year for the first time since 1983, and this loss will be quite significant," he said. The key factor in this has been an acute shortfall in zinc concentrate supplies as a result of a fall in domestic mine production, Roberts said. "Though the focus has been on the tin mining disaster in Guangxi in 2001, which forced the authorities to implement extensive mine closures, these have had a very significant impact on production of zinc in concentrate," he said.