Commodity Market Report
Global zinc investment horizon outlook Q3 2022
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The medium-term outlook for zinc demand will inevitably be influenced by the fallout from the battle between the world’s monetary authorities and inflation. It is increasingly likely that we will see recessions in several of the world’s major economies. Although a global economic downturn is forecast to be avoided, we do expect to see contractions in zinc demand in several countries. Global mined zinc production is forecast to be flat this year compared to 2021 but such stronger growth is expected for the 2023 to 2025 period with the ramp-up of several new projects. This includes a major high grade zinc project that we have moved to our base case this quarter.
Table of contents
- Wave of new mine projects will see investment rise of over the next few years
- Corporate governance related issues come to the fore in Latin America
- $18.5Bn investment needed in zinc mining by 2032
- Medium-term forecasts
- Long term forecasts, base case and high-low thresholds
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Overview
- China
- India
- Europe
- USA
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Changes to forecast zinc consumption since previous quarter
- Market adjustments
- Mine projects
- Base Case projects
- Probable status projects
- Recent financing deals
- Mine Production changes since last quarter
- Africa
- Europe
- 5 more item(s)...
- Africa
- India
- Middle East
- China
- Europe
- 1 more item(s)...
Tables and charts
This report includes the following images and tables:
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Upcoming base case projects (kt/a Zn)Forecast investment required in new mine capabilityRequired investment has been achieved in most recent years
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Capital intensity of operating mines compared to Probable and Possible status projectsPrice forecasts and refined market balancesThe zinc market is facing substantial surpluses in the concentrate and metal markets for the medium termConcentrate market balances tableMetal stocks to rise in the medium-term which will undermineThe relative strength of the dollar plays a key role in influencing the zinc priceRequirement for new mine productionCost price relationships are used to forecast long-term pricesGlobal zinc consumption by region
- 20 more item(s)...
What's included
This report contains:
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