China: Zinc exports surge over 400% in Sep'22 m-o-m

China, the world's largest base metals producer, recently released non-ferrous commodities (zinc) import and export figures for September 2022. Exports increased by a gigantic 439% over the previous month, as per Customs data maintained by SteelMint.

During the month under review, China's zinc exports were recorded at 10,485 tonnes (t), including scrap, semi-finished, finished long and finished flat products, an exceptional jump of 439% from 1,945 t in August.

Imports (including ores, semi-finished, finished long and finished flat products) were recorded at 399,918 t, a slight rise of 4% m-o-m as against 383,765 t in August.

Break-up of exports

Semi-finish export volumes were the highest at 9,838 t, a jump of 675% m-o-m, followed by finished flats at 447 t (down 12.27%), finished longs at 200 t (up 20%), m-o-m.

The semi-finish segment comprised 94% of overall exports, followed by finished flats at 4%, and finished longs at 2%.

Break-up of imports

Ores import volumes were the highest at 390,578 t, a rise of 3.78% m-o-m, followed by semi-finished at 9,115 t (up 26.42%), finished flats at 201 t (up 26%), and finished longs at 24 t, stable m-o-m, SteelMint noted.

The ores comprised around 98% of overall imports followed by semi-finished, flats and longs products.

Country-wise shipments (exports)

In September, Vietnam remained the most-preferred export destination for China with total shipments at 526 t, up by 42%. Imports by Taiwan stood at 258 t, down 53%, and Thailand at 228 t, up 7.5%.

On the other hand, shipments to the US were recorded at 203 t (down 14%), respectively.

Imports: Country-wise

During September 2022, China's imports from Australia were at 87,582 t, a fall of 7% m-o-m, followed by Peru at 65,244 t - a rise of 13%. Eritrea followed with 51,421 t, an exceptional rise of 407% m-o-m, SteelMint records.

A major factor behind the sharp jump of 439% in zinc exports was the significant rise in volumes to Mexico and Singapore which were recorded at 5,977 t and 2,278 t respectively. These two importing nations together contributed 79% of semi-finished to the overall September exports by China.

Zinc plays an important role in the automotive industry where it is used in manufacturing die cast components for vehicles. Zinc die casting is used wherever safety and maximum stability are required in a vehicle.

Mexico's monthly automobile sales stood at 91,101 light vehicles in October - a 19% rise over 76,640 units in October 2021. Average inflation in September 2022 was recorded at a stable 7.6% against 7.4% in August 2022.

In Singapore, automobile sales were recorded at 2,357 units in September 2022, inching down 0.71% m-o-m. On the other hand, private housing sales in Singapore in September 2022 were recorded at 987 units - a 125% jump against 438 units in August.