Zinc Market Report October 2014

Contents
Introduction 1
1 Financial news 1
1.1 Chinese domestic financial overview 1
1.1.Asian Metal Copyright3 Yuguang Gold Lead reduces zinc ingot production for maintenance 33 6.Asian Metal Copyright1 CPI up by 1.Asian Metal Copyright2 PMI down by 0.Asian Metal Copyright6% and PPI down by 1.8% YOY in September 1
1.1.Asian Metal Copyright4 Operating rate of China’s die-casting zinc alloy plants down to 47.Asian Metal Copyright2 PMI down by 0.3% in October 2
1.2 International financial overview 3
1.2.1 Crude oil futures prices continue to fall back 3
1.2.2 US dollar continues to strengthen in October 4
2 International market overview 5
3 Chinese domestic market overview 6
3.1 China’s zinc concentrate prices fluctuate slightly and trading warms up during October 6
3.2 Zinc ingot prices fluctuate sharply, trading slow, spot premiums hold up 8
3.3 Die-casting zinc alloy market sluggish, production and sales decline slightly 9
3.4 Zinc oxide market 10
3.4.1 Market for zinc oxide produced from zinc ingots stable 10
3.4.2 Market for zinc oxide produced from zinc scrap slow, demand sluggish 11
3.4.3 Zinc oxide 90-99% market hard to improve 12
3.5 Zinc powder market 12
3.5.1 Fine zinc powder trading stable 12
3.5.2 Metal zinc powder trading stable, consumers purchase from hand to mouth 13
3.6 Zinc sulfate market sees no improvement 13
4 Production data 14
4.1 China’s zinc concentrate production up by 4.67% MOM in September 14
4.2 China’s refined zinc production up by 4.23% MOM in September 15
4.3 Operating rate of China’s zinc smelters up to 80.5% in October 16
4.3 China’s zinc smelters’ stocks up by 4.2% MOM in late October 17
4.4 Operating rate of China’s die-casting zinc alloy plants down to 47.69% in October 18
4.5 Operating rate of China’s zinc oxide plants down to 45.67% in October 19
4.6 Stocks at China’s zinc oxide plants down by 9.2% MOM in late October 20
5 Import & export data analysis 21
5.1 China’s zinc import and export data by country in September 21
5.2 China’s zinc ore/concentrate imports up by 51.94% MOM in September 2014 23
5.3 China’s refined zinc imports down by 50.93% MOM in September 25
5.4 China’s zinc oxide imports up by 22.9% MOM in September 26
5.5 China’s zinc powder imports up by 48.5% MOM in September 28
5.6 Top ten Chinese zinc ore/concentrate importers in September 30
5.7 Top ten Chinese refined zinc importers in September 31
5.8 Top ten Chinese zinc oxide importers in September 31
5.9 Top ten Chinese zinc powder importers in September 32
6 Company news 32
6.1 Western Mining to resume zinc ingot production in early November 32
6.2 Chihong Zinc & Germanium’s zinc smelting project starts trial production in Inner Mongolia on October 26 33
6.3 Yuguang Gold & Lead reduces zinc ingot production for maintenance 33
6.4 Shenlong Zinc Industry launches its 5,000tpy of zinc oxide project 33
6.5 Yuantai Zinc Industry reduces zinc oxide production for maintenance 33
7 Related industry developments 34
7.1 China’s crude steel output remains stable 34
7.2 China’s automobile sales volume up by 2.47% YOY in September 34
8 Outlook for September 34

Picture 1 China’s CPI and PPI trend in 2014 2
Picture 2 China’s PMI index in 2014 3
Picture 3 US crude oil futures price trend on major transaction market in October 4
Picture 4 USD index chart 2014 5
Picture 5 Three-month seller zinc on the LME in October 2014 5
Picture 6 Zinc stocks on the LME in October 2014 6
Picture 7 Prices for zinc concentrate 50%min in South China in October 2014 7
Picture 8 Prices for zinc concentrate 55%min in North China in October 2014 8
Picture 9 Prices for SHG zinc ingot in October 2014 9
Picture 10 Price graph for Zamak-3 zinc alloy in October 2014 10
Picture 11 Prices for rubber grade zinc oxide 99.7%min from zinc ingot in October 2014 11
Picture 12 Prices for 325 mesh zinc powder 98%min in October 2014 13
Picture 13 China’s zinc concentrate production 2011-2014 15
Picture 14 China’s refined zinc production 2011-2014 16
Picture 15 China’s zinc smelters’ operating rate 2013-2014 17
Picture 16 China’s zinc smelters’ stocks November 2013-October 2014 18
Picture 17 China’s major die-casting zinc alloy producers’ operating rate 2012-2014 19
Picture 18 China’s zinc oxide plants’ operating rate from 2012 to 2014 20
Picture 19 China’s zinc oxide plants’ stocks from January to October 2014 21
Picture 20 China’s zinc ore/concentrate imports 2013-2014 24
Picture 21 China’s refined zinc imports 2014 25
Picture 22 China’s refined zinc import origins 2014 26
Picture 23 China zinc oxide imports from January to September 27
Picture 24 The origins of China’s zinc oxide imports in September 2014 27
Picture 25 China’s zinc oxide import price 28
Picture 26 China’s zinc powder and flake powder imports from January to September 2014 29
Picture 27 Origins of China’s zinc powder and zinc flake powder imports from January to September 2014 30


Table 1 Prices for zinc oxide 99.7%min produced from zinc scrap 11
Table 2 Output changes of some zinc smelters in October 16
Table 3 Refined zinc, zinc alloy, zinc concentrate/ore imports and exports in September 2014 21
Table 4 China’s top 10 zinc ore/concentrate import companies in September 2014 30
Table 5 China’s top 10 refined zinc import companies in September 2014 31
Table 6 China’s top 10 zinc oxide import companies in September 2014 31
Table 7 China’s zinc powder import companies in September 2014 32

.Asian Metal Copyright6 Stocks at China’s zinc oxide plants down by 9Asian Metal Copyright