Global zinc short-term outlook February 2023
As the excitement surrounded the reopening of China waned so has the zinc price. Its retreat was aided by fresh concerns about the US economy and the lack of concrete evidence that the nascent recovery of the Chinese economy has boosted demand for zinc and other commodities. Further pressure came from the news that the Auby smelter in France is to return to production in the wake of the fall in European energy prices. Further pressure came from the rise in exchange stocks on both the LME and Shanghai Futures exchange, however, in the case of the latter the increase appears to be in line with the normal seasonal uptick.