Zinc Market Report July 2015

Contents
Introduction 1
2 International market overview 1
3 Chinese domestic market review 3
3.1 Chinese zinc concentrate prices continue to drop in July 3
3.2 Zinc ingot prices edge down continuously, trading thin 5
3.3 Die-casting zinc alloy trading thin, output decreases 6
3.4 Zinc oxide market 7
3.4.1 Market for zinc oxide produced from zinc ingot sluggish 7
3.4.2 Zinc scrap prices move down, trading on zinc oxide produced from zinc scrap dim on the market 8
3.4.3 Zinc oxide 90-99% market flat 9
3.5 Zinc powder market 9
3.5.1 Super-fine zinc powder market trading slow 9
3.5.2 Metal zinc powder demand stable 10
3.6 Demand for zinc sulfate dull 11
4 Production data 11
4.1 China’s zinc concentrate output down by 10.40% YOY in H1 2015 11
4.2 China’s refined zinc output up by 5.26% MOM in June 12
4.3 Operating rate of China’s zinc smelters down to 75.06% in July 13
4.4 Chinese zinc smelters’ stocks up by 4.5% MOM in late July 14
4.5 Chinese die-casting zinc alloy plants’ operating rate down to 43.86% in July 15
4.6 Operating rate of China’s zinc oxide plants up to 48.6% in July 16
4.7 Stocks at China’s zinc oxide plants up by 26.6% MOM in late July 17
4.8 Operating rate of China’s zinc powder plants down to 65.36% in July 18
5 Import & export data analysis 19
5.1 China’s zinc import and export data by country in June 19
5.2 China’s zinc ore/concentrate imports up by 51.27% YOY in H1 2015 21
5.3 China’s refined zinc imports down by 55.48% MOM in June 2015 22
5.4 China’s zinc alloy imports down by 2.06% MOM in June 24
5.5 China’s zinc oxide imports up by 4.3% MOM in June 25
5.6 China’s zinc powder imports up by 47.5% MOM in June 2015 27
5.7 Top ten Chinese zinc ore/concentrate importers in June 28
6 Company news 29
6.1 Caijiaying Lead-Zinc Mine resumes production in late June 29
6.2 Baiyinnuoer Lead-Zinc Mine’s processing plant suspends production temporarily for maintenance in late July 29
6.3 Chifeng NFC Zinc’s refined zinc resumes normal production on June 28th 29
6.4 Western Mining halts zinc ingot production for maintenance 30
6.5 Baohui Industry resumes zinc ingot production on July 29th 30
6.6 Shuangsheng Zinc to expand zinc powder capacity in July 30
7 Related industry developments 30
7.1 China’s crude steel output up by 4.5% YOY in June 30
7.2 China’s automobile sales volume down by 2.31% YOY in June 30
8 Outlook for August 31

Picture 1 Three-month seller zinc on the LME in July 2
Picture 2 Zinc stocks on the LME in July 2
Picture 3 Prices for zinc concentrate 50%min in South China in July 2015 4
Picture 4 Prices for zinc concentrate 55%min in North China in July 2015 5
Picture 5 Prices for SHG zinc ingot in June 2015 6
Picture 6 Prices for Zamak-3 zinc alloy in July 2015 7
Picture 7 Prices for rubber grade zinc oxide 99.7%min from zinc ingot in July 2015 8
Picture 8 Prices for domestic 325 mesh zinc powder 98%min in July 2015 10
Picture 9 China’s zinc concentrate output Jan 2014-June 2015 11
Picture 10 China’s refined zinc output in 2014-2015 13
Picture 11 China’s zinc smelters’ operating rate 2014-2015 14
Picture 12 China’s zinc smelters’ stocks in 2014-2015 15
Picture 13 China’s major die-casting zinc alloy producers’ operating rate 2014-2015 16
Picture 14 Operating rate of zinc oxide plants from 2014 to 2015 17
Picture 15 China’s zinc oxide plants’ stocks in 2014-2015 18
Picture 16 Chinese zinc powder plants’ operating rate 19
Picture 17 China zinc ore/concentrate imports 2014-2015 21
Picture 18 Zinc ore/concentrate imported by China from Australia and Peru between Jan 2014 and Jun 2015 22
Picture 19 China’s refined zinc imports in 2014-2015 23
Picture 20 China’s main refined zinc import origins in 2015 24
Picture 21 China’s zinc alloy imports in 2014-2015 25
Picture 22 China zinc oxide imports in 2014-2015 26
Picture 23 Origins of China’s zinc oxide imports in 2015 26
Picture 24 China zinc powder imports in 2014-2015 27
Picture 25 Origins of China's import zinc powder in 2015 28

Table 1 Prices for zinc oxide 99.7%min produced from zinc scrap 9
Table 2 The output changes of some zinc smelters in June 2015 13
Table 3 Refined zinc, zinc alloy, zinc concentrate/ore import and export in June 2015 19
Table 4 China’s top 10 zinc ore/concentrate import companies in June 2015 28

.Asian Metal Copyright06% in July 13 4Asian Metal Copyright