Commodity Market Report
Global zinc short-term outlook August 2020
Report summary
The zinc price continued to defy gravity in August climbing to $2469/t, its highest level since November 2019. This rise came despite its deteriorating fundamentals as a result zinc continues to vie with copper as the best performing metal on the LME, for the year as a whole but also since LME metals hit their coronavirus-induced lows in late March and early April. With the recent price strength accompanied by a sharp pick up in open interest and traded volumes on the LME, the price appears to be pushing higher from renewed interest in base metals from macro-economic investor funds and the amplification effect of CTAs.
Table of contents
- Market Developments
- Global
- USA
- China
- Concentrate market
- Mine production
- Mine production news
- Smelter production
Tables and charts
This report includes 17 images and tables including:
- Zinc vies with copper for best performing LME metal despite rising metal stocks
- Price stock relationship reversed
- Recent zinc price strength was accompanied by a rise in open interest and volumes on the LME
- Dollar weakness could help support the zinc price
- Price forecasts and global quarterly supply and demand balance
- Key indicators of zinc consumption
- Treatment charges $/t of concentrate
- Chinese smelter revenue now higher from domestic than imported concentrate
- Chinese concentrate imports (kt gross weight concentrate)
- Concentrate balances
- 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)
What's included
This report contains:
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