Emergency imported electrolytic zinc starts to arrive in Japan this week. Japanese smelters and large dealers moved to emergency import mainly from China when several smelters stopped after Japan Earthquake. Domestic zinc supply temporarily shortened and dealers couldn’t contract spot trade due to order rush. The supply is expected to ease thanks to the import and several market sources are already concerned on the oversupply.
Japanese major dealers quickly contracted electrolytic zinc of bond warehouses in Shanghai, China. Japanese major smelters also moved into emergency import. It is said that Chinese dealers gathered up electrolytic zinc inventory at several hundred thousand tonnes for speculative purpose. One Japanese dealer currently visited Chinese stock site and found every nonferrous metal stocks, especially a large lot of zinc. The emergency import is estimated to total 30,000-50,000 tonnes, almost the same volume as decreased production by Japanese smelters. Domestic supply and demand balance could ease after one month. The import is likely to continue in May. Large dealers and smelters are planning the import from Australia, Canada, Peru and Namibia. From Namibia, the past import was 13,500 tonnes in 2009 and 8,000 tonnes in 2010. Supply shortage is also concerned for distilled zinc which is used for hot dip steel sheet. Domestic smelters had exported surplus distilled zinc mainly to Indonesia and Taiwan ever. The smelters presently consider to cancel spot export contracts and to increase the supply to domestic users. Several users decided cooperative import of distilled zinc at several ten tonnes. Other users are increasing orders for secondary zinc.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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