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Global zinc short-term outlook December 2017

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21 December 2017

Global zinc short-term outlook December 2017

Report summary

A significant amount of the uncertainty facing the zinc market in 2018 was effectively eliminated this month. Glencore, the world's largest zinc miner, issued its 2018 production guidance which included the restart of its idled Lady Lorretta mine (160kt/a at full production) part of the Mt Isa complex. As Glencore's guidance made no mention of the return of the Iscaycruz (80kt/a) mine in Peru or the McArthur River's expansion (185kt/a), the announcement was viewed favourably by the market and there was little impact on the price.

Table of contents

  • Executive summary
    • Market Developments
      • Price forecasts and global quarterly supply and demand balance
    • Global
    • Europe
      • Galvanized sheet and metallic coated sheet production
    • Concentrate market
      • Concentrate balances
    • December mine production news
    • Smelter production news
      • Zinc smelter capability, market adjustment and production (kt Zn)

Tables and charts

This report includes 25 images and tables including:

  • Zinc key forecasts
  • Zinc and lead set to be the top performers on the LME in 2017
  • Total exchange stocks are now equivalent to less than seven days of consumption, their lowest level since mid-2008
  • Spot premiums suggest that there refined zinc is still readily available
  • Chinese smelter production set to end 2017 on a high?
  • Land sales surge and point to good growth in housing starts in 2018
  • Fixed asset investment in infrastructure levelling off
  • Metallic sheet production contracts in September and October
  • Europe is enjoying broad based economic growth
  • Treatment charges $/t of concentrate
  • Number shipments of zinc concentrate from Peru to China by year
  • Index of monthly Chinese mine production
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Index of monthly reported Chinese smelter production
  • Supply-demand balances: Table 1
  • Demand: Table 1
  • Key indicators of zinc consumption
  • Supply: Table 2
  • Supply: Table 4
  • 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

    Data Tables Zinc STO December.xls

    XLS 294.00 KB

  • Document

    Global zinc short-term outlook December 2017

    PDF 657.00 KB

  • Document

    Global zinc short-term outlook December 2017

    ZIP 723.02 KB

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