Shanghai Metals Market Nov 25 2015 SHANGHAI, Nov. 25 (SMM) - China’s zinc imports leapt 189.04% YoY to 72,325 tonnes in October, hitting a new high since January 2014, according to China Customs.
What’s behind the surge in China’s zinc imports in October when major Chinese zinc smelters plan to cut output significantly after zinc prices hit a six-year low?
More arbitrage opportunities expected in November are believed to have driven large inflows of imported zinc to China, money.163.com reports.
Investors bought large amounts of imported zinc, expecting arbitrage room to expand in November, according to Ningbo Yinyi Group Co. Investment Manager Xu Yongqi.