Commodity Market Report

Global zinc short-term outlook February 2023

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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.

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 20 images and tables including:

  • Shanghai stock build in line with recent history
  • LME's off-warrant stocks exceed on warrant stocks in December 2022
  • Spot premiums ease
  • Price forecasts and global quarterly supply and demand balance
  • The service sector is leading the pick up in global growth
  • European new passenger vehicles sales set to recover in 2023
  • Chinese highway traffic levels points to a strong start to the recovery
  • 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)
  • Mine disruption allowance breakdown
  • Index of Chinese smelter production
  • 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 February 2023

    PDF 1.00 MB