Commodity Market Report

Global zinc short-term outlook December 2019

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19 December 2019

Global zinc short-term outlook December 2019

Report summary

The zinc price slipped lower in December. This was despite the fact that global exchange stocks fell to levels not seen since July 2007 and largely ignored the excitement in wider-financial markets triggered by the news that the US and China will sign a "Phase 1" trade agreement. Meanwhile, reported refined production from Chinese smelters in November was close to an all time high. The key uncertainty for 2020 is whether they, and smelters elsewhere in the world, will be able to manage to sustain elevated operating rates.

Table of contents

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

Tables and charts

This report includes 20 images and tables including:

  • Zinc price sinks after a near-term peak in early-November
  • Exchange stocks at record lows
  • Price forecasts and global quarterly supply and demand balance
  • PMIs point to manufacturing downturn bottoming out
  • US apparent consumption set to contract for second year
  • The real-estate sector will support Chinese economic growth in 2020
  • Growth in infrastructure spending set to pick up in 2020
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • Larger mine disruption allowance over the next five years
  • Concentrate balances
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Index of monthly Chinese refined 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

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