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Die-casting Zinc Alloy Imports and Exports in May Show Mixed Performance: What's Next?
According to the latest customs data, China's imports of unwrought zinc alloy reached 4,285.04 mt in May, up 13.60% MoM and 21.62% YoY. Exports fell to 168.68 mt, down 86.84% MoM and 79.09% YoY.
[Die-casting zinc alloy imports and exports performed differently in May. How will they develop in the future?] According to the latest customs data, China's imports of die-casting zinc alloy reached 4,285.04 mt in May, up 13.60% MoM and 21.62% YoY. Exports fell to 168.68 mt, down 86.84% MoM and 79.09% YoY...
It is like stopping a raging tide from collapsing [SMM analysis]
[SMM Analysis: It's Like Turning the Tide Back] In the past three years, when China's smelters have been concentrating on commissioning their smelting capacity, the mid-year and year-end negotiations between China's smelters and Antofagasta have been particularly challenging. Since the end of last month, Antofagasta has consistently maintained a -$15 offer for the mid-year negotiations with China's smelters from the first round to the third round, refusing to make any concessions. Miners are confident in the production resilience of China's smelters and the diminishing expectations for production cuts, so they refuse to make any concessions. China's smelters have risen to the challenge, and under the rational arguments of the two leading smelters involved in the negotiations, one of the leading smelters eventually took the lead in reaching a $0 agreement with Antofagasta this morning without making any concessions on other terms, with other participating Chinese smelters following suit. Previously, there had been an abundance of pessimistic market expectations, with bearish and production cut sentiments echoing. Given that miners had insisted on a -$15 offer through multiple rounds, the market generally expected that China's smelters would have to compromise on negative numbers and be forced to enter an era of negative long-term contracts. Judging from the results, this negotiation is akin to turning the tide back and preventing a collapse.
