Zinc Market Report October 2015

Contents
Introduction 1
2 International market overview 1
3 Chinese domestic market review 3
3.1 Chinese zinc concentrate prices soften further during October 3
3.2 Zinc ingot prices edge down continuously, trading thin 5
3.3 Die-casting zinc alloy market quiet 6
3.4 Zinc oxide market 7
3.4.1 Trading for zinc oxide produced from zinc ingot thin 7
3.4.2 Zinc oxide produced from zinc scrap market stagnant 8
3.4.3 Zinc oxide 90-99% market sees no improvement 9
3.5 Zinc powder market 9
3.5.1 Super-fine zinc powder market sluggish 9
3.5.2 Some metal zinc powder producers halt production due to meager profits 10
3.6 Zinc sulfate market sees no improvement 10
4 Production data 11
4.1 China’s zinc concentrate output down by 9.10% YOY in September 2015 11
4.2 China’s refined zinc output up by 1.07% MOM in September 12
4.3 Operating rate of China’s zinc smelters up to 78.27% in October 13
4.4 China’s zinc smelters’ stocks up by 43.8% MOM in late October 14
4.5 China’s die-casting zinc alloy plants’ operating rate up to 50.19% in October 15
4.6 Operating rate of China’s zinc oxide plants up to 44.1% in October 16
4.7 Stocks at China’s zinc oxide plants down by 5.7% MOM in late October 17
5 Import & export data analysis 18
5.1 China’s zinc import and export data by country in September 18
5.2 China’s zinc ore/concentrate imports up by 102.53% YOY in September 2015 20
5.3 China’s refined zinc imports up by 22.63% MOM in September 2015 22
5.4 China’s zinc alloy imports down by 6.6% MOM in September 23
5.5 China’s zinc oxide imports down by 29.1% MOM in September 24
5.6 China’s zinc powder imports down by 26.6% MOM in September 2015 26
5.7 Top ten Chinese zinc ore/concentrate importers in September 27
6 Company news 28
6.1 Caijiaying Lead-Zinc Mine suspends mining operation temporarily in mid-October 28
6.2 Jiangxi Copper reduces zinc ingot outputs for maintenance 28
6.3 Lantian Smelting and Chemical’s 25,000tpy zinc smelting project comes on stream in early October 28
6.4 Zijin Mining’s zinc and silver mining output increases significantly in first three quarters of 2015 29
6.5 Sihuan Electricity Zinc expands zinc ingot capacity to 100,000tpy 29
6.6 Hanil Chemical produces zinc powder elastically 29
7 Related industry developments 29
7.1 China’s crude steel output down by 3.0% YOY in September 29
7.2 China’s automobile sales volume up by 2.08% YOY in September 30
8 Outlook for November 30

Picture 1 Three-month seller zinc on the LME in September-October 2
Picture 2 Zinc stocks on the LME in Septembe-October 2
Picture 3 Prices for zinc concentrate 50%min in South China in September-October 2015 4
Picture 4 Prices for zinc concentrate 55%min in North China in September-October 2015 5
Picture 5 Prices for SHG zinc ingot in September-October 2015 6
Picture 6 Prices for Zamak-3 zinc alloy in September-October 2015 7
Picture 7 Prices for rubber grade zinc oxide 99.7%min from zinc ingot in September-October 2015 8
Picture 8 Prices for domestic 325 mesh zinc powder 98%min in September-October 2015 10
Picture 9 China’s zinc concentrate output Jan 2014-Sep 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 China zinc ore/concentrate imports 2014-2015 21
Picture 17 Zinc ore/concentrate imported by China from Australia and Peru between Jan 2014 and Sep 2015 21
Picture 18 China’s refined zinc imports in 2014-2015 22
Picture 19 China’s main refined zinc import origins in 2015 23
Picture 20 China’s zinc alloy imports in 2014-2015 24
Picture 21 China zinc oxide imports in 2014-2015 25
Picture 22 The origins of China’s zinc oxide imports in 2015 25
Picture 23 China zinc powder and zinc flake powder imports in 2014-2015 26
Picture 24 The origins of China’s zinc powder imports in 2015 27

Table 1 Prices for zinc oxide 99.7%min produced from zinc scrap 8
Table 2 The output changes of some zinc smelters in September 2015 13
Table 3 Refined zinc, zinc alloy, zinc concentrate/ore import and export in August 2015 18
Table 4 China’s top 10 zinc ore/concentrate import companies in August 2015 27

.Asian Metal Copyright3 Zinc oxide 90-99% market sees no improvement 9 3Asian Metal Copyright