Commodity Market Report

Global zinc short-term outlook April 2021

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30 April 2021

Global zinc short-term outlook April 2021

Report summary

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

Table of contents

  • Market Developments
  • Global
  • China
  • Europe
  • Concentrate market
  • Mine production
  • Mine production news
  • Smelter production

Tables and charts

This report includes 17 images and tables including:

  • LME complex boosted in April
  • Significant tonnages of zinc probably remain off-warrant
  • Exchange stocks are little changed in April
  • Price forecasts and global quarterly supply and demand balance
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • Chinese concentrate imports (kt gross weight concentrate)
  • Concentrate balances
  • Mine disruption allowance breakdown
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Index of Chinese smelter production
  • Global zinc consumption - (kt Zn)
  • Global zinc mine production (kt Zn)
  • Global zinc smelter production (kt Zn)
  • Zinc stocks, prices and premiums
  • Chinese trade data (kt)
  • Global slab zinc supply/demand balance (kt)

What's included

This report contains:

  • Document

    Global zinc short-term outlook April 2021

    PDF 960.54 KB