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Antaike's output report on refined zinc in May 2020

2020-06-24 14:29:47

Beijing, June 17 (Antaike)--Antaike investigated 49 zinc refineries, concerning capacity of 6.28Mtpy, and showed that they produced 2.054Mt of zinc and zinc alloy in Jan.-May 2020, up 2.7% year on year, of which May output was 401kt, down 6.3% year on year and 13,000t month on month, average daily output decreased by 6.2% month on month. Output was 413kt in April after correction, down 1.2% year on year.




The tight raw material supply was reflected on the continuously falling TC from April. May output declined as expected and the decrease was mainly from Yunnan, Inner Mongolia, Shaanxi and Gansu. Some cut output due to raw materials supply, some advanced summer maintenance to cope with the low TC and some were in maintenance due to accident. The tight raw materials supply and low TC didn’t result in large-scale production cut, but refined zinc production was indeed restricted during May-Jul.




According to Antaike’s investigation, refineries had 48kt of inventory at early June, almost unchanged compared with the start of May. Ingot inventory was still high, and some refineries chose to cut or stop producing ingot for a short time.




In June, raw material tightness will be diversified. Utilization rates of small companies in Hunan, Sichuan, Guangxi and Yunnan will be restricted. Major refineries in west Hunan, Inner Mongolia, Guangxi and Anhui were in maintenance, or would add new maintenance, but some refineries will gradually resume production.




Antaike estimates June output will decrease slightly to below 400kt.




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