One thing I have noticed is the discrepancy between LME zinc prices and Shanghai prices. Shanghai stocks are still falling. I show you that in a minute but imports of refined zinc by China are up +43%.
China zinc imports advanced 47% to 47,933 metric tons (mt) in January on y-o-y basis, as per the Chinese customs department.
China zinc imports advanced maybe because of a decline in treatment charges paid to smelters and also because of a wider spread between prices on the London Metal Exchange and domestic prices.
Since late 2011, there have been improved trade opportunities, attracting more refined zinc imports.
KZL Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
