Global zinc short-term outlook April 2021

The zinc price broke out of its recent trading range, rising above $2900/t in late April to reach a two-year high. The move higher was mirrored across the LME, where investor enthusiasm for base metals, and copper and aluminium in particular, helped to lift prices. Further support for the price of zinc and the other base metals came from the weakening of the dollar. The annual benchmark contract treatment charge is understood to have been agreed. It is much lower than the $299.75/t flat of last year and the second lowest figure in over a decade. Read further in our latest Global zinc short-term outlook for details on: Issues affecting global, Chinese and European zinc demand Analysis on the annual benchmark contract TC settlement The main supply developments over the past month Whether Nanfang's purchase of Red Dog concentrate is a game changer Imported spot concentrate being more valuable to Chinese smelters than domestic for two months running