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Trump Trade War - US tariffs may affect zinc sector in China

Metal News - Published on Tue, 21 May 2019

Image Source: Medical News Today
SMM reported that US-China trade war is expected to minimally affect China's export of zinc related products, such as galvanised sheet, zinc alloy and oxide, but to have greater impact on the export of a wider range of consumer goods, which could weigh on upstream zinc. China's galvanised products market is dominated by exports, with African and South-east Asian nations as major export destinations. Customs data showed that Export volume of zinc alloy and oxide stood at lows of around 7,000 tonne and 1,000 tonne per month, respectively.

Even as the import of zinc concentrate is dependent on tariffs, US zinc concentrate that enters China accounts for only 1% of the total.

US-imported zinc concentrate will be subject to 25% customs duties on June 1, as China announced on May 13 plans to increase tariffs on $60 billion of American goods.

Source :

Posted By : Rabi Wangkhem on Tue, 21 May 2019
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