Global zinc short-term outlook April 2022 Report

Commodity Market Report 27 April 2022

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Report summary

Worries about the impact of China's lockdowns on commodity demand weighed on base metal prices this month. After hovering around $4400/t for much of April the price retreated finding support at $4100/t. With 66% of the stocks in the warehouses of the LME now cancelled, the shrinking of LME inventories looks set to continue providing fundamental support to elevated zinc price. Meanwhile, the arbitrage of LME prices over SHFE prices continued to push spot treatment charges higher.

Market Developments
Europe
China
Concentrate market
Mine production
Mine production news
Project news
Corporate news
Smelter production
Smelter News

Tables and charts

This report includes 18 images and tables including:

LME stocks continue to evaporate
Lockdown puts seasonal stock fall on hold
Arbitrage cuts refined imports

Price forecasts and global quarterly supply and demand balance
Falling consumer and business confidence could reduce demand for consumer and capital goods in the coming months
Galvanized sheet and metallic coated sheet production
Key indicators of zinc consumption
Treatment charges $/t of concentrate
Comparison of revenue from different treatment charges
Chinese concentrate imports (kt gross weight concentrate)
Mine disruption allowance breakdown
Zinc mine capability, market adjustment and production (kt Zn)
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)