We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 

Commodity Market Report

Global zinc short-term outlook January 2022

Get this report


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

28 January 2022

Global zinc short-term outlook January 2022

Report summary

In January, the zinc price shrugged off the turmoil in equity markets and consolidated its position around $200/t higher. Meanwhile, in Europe we now expect the Portovesme and Auby smelters to be suspended for the first half of the year, with a risk that they will be shuttered for longer. The loss of this European refined zinc supply has resulted in spot zinc premiums surpassing the all time highs seen in 2006 and 2007. There is little chance of a respite from high premiums in the near-term. European smelter cutbacks may also be making themselves felt in the concentrate market where spot treatment charges have moved sharply higher. The shift higher comes after a late start to annual benchmark negotiations. A key question for negotiators will be whether the sudden move higher in spot TCs are heralding a sustained easing in the concentrate market or a temporary blip.

Table of contents

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

Tables and charts

This report includes 17 images and tables including:

  • SHFE seasonal stock build underway
  • European and US premiums hit new highs
  • Price forecasts and global quarterly supply and demand balance
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Chinese concentrate imports (kt gross weight concentrate)
  • Treatment charges $/t of concentrate
  • Annual concentrate balances
  • Mine disruption allowance breakdown
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Index of Chinese smelter 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

This report contains:

  • Document

    Global zinc short-term outlook January 2022

    PDF 948.85 KB