Commodity Market Report

Global zinc short-term outlook December 2022

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The rapid easing of covid restrictions initially boosted the zinc price, but as it became clear that the wave of infection surging across China is likely to disrupt the economy well into Q1 2023 the price lost ground. Meanwhile, Nyrstar continued to adjust output from its European smelters by placing its 160kt/a Auby plant on care and maintenance for the second time this year. With exchange stocks falling to multi-decade lows, spot premiums in Europe remain well supported at elevated levels. In the US they lost some ground but remain at very high levels by historic standards.

Table of contents

  • Market Developments
  • Concentrate markets
    • Current mine developments
    • Project development
    • Corporate activity
    • Smelter production
    • Current smelter developments

Tables and charts

This report includes 19 images and tables including:

  • Zinc price briefly breaks away from other LME metals before falling back into line
  • Stocks close to record lows
  • Refined market tightness supports premiums despite price retreat
  • Price forecasts and global quarterly supply and demand balance
  • European PMIs suggest that downturn may not be as bad as expected
  • 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)
  • Zinc concentrate balance (kt Zn)
  • Mine disruption allowance breakdown
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Global refined 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 December 2022

    PDF 1000.93 KB