Global zinc short-term outlook January 2021 Report

Commodity Market Report 29 January 2021

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Report summary

A sharp rise in exchange stocks, and rising concerns about the impact of the coronavirus in China undermined the zinc price in January. After hitting $2838/t the price retreated to $2546/t by the end of the month. Meanwhile, Chinese smelters ended the year on a strong note with China's National Bureau of Statistics reporting production for 2020 at 6.4Mt, a year on year rise of 2.9%. Meanwhile, spot treatment charges remain under pressure.

Market Developments
Global
China
Europe
Concentrate market
Mine production
Mine production news
Smelter production
Smelter production news

Tables and charts

This report includes 17 images and tables including:

Seasonal rise in Shanghai stocks getting underway
Investment fund long positions return for zinc
Price forecasts and global quarterly supply and demand balance

Global PMIs continue to indicate expansion but new Covid variants and missteps on vaccination are significant headwinds
European passenger vehicle registrations recover but microchip shortages could dent the seasonal March sales surge
Key indicators of zinc consumption
Treatment charges $/t of concentrate
Chinese concentrate imports (kt gross weight concentrate)
Concentrate balances
Mine disruption allowance breakdown
Zinc mine capability, market adjustment and production (kt Zn)
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)