Commodity Market Report

Global zinc short-term outlook January 2023

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Despite the challenges and uncertain outlook for the global economy and the zinc market, the zinc price has got off to a strong start in 2023. The price of zinc and most other commodities moved steadily higher during the first half of the month. The climb lifted the price from just over $3000/t at the end of 2022 to around $3400/t by the middle of the month. The catalysts for the moves higher is a degree of cautious optimism for the global economic outlook. Ths stems from the expectation that China's economic recovery will come sooner rather than later and evidence that much of Europe may have avoided sliding into recession in the latter part of 2022 and growing hopes that broad-based recession will be avoided in 2023.

Table of contents

Tables and charts

This report includes 22 images and tables including:

  • A return of interest helps buoy the zinc price
  • 2022 saw the highest price volatility for a decade, the volatility is set to persist through 2023
  • Half of LME warehouse stocks may be about to leave
  • Price forecasts and global quarterly supply and demand balance
  • Global manufacturing may have hit bottom
  • US auto production is still struggling with supply-chain disruptions
  • Korean galvanized sheet production plunges in H2 2022
  • Treatment charges $/t of concentrate
  • Comparison of revenue from different treatment charges
  • Chinese concentrate imports (kt gross weight concentrate)
  • Zinc concentrate balance (kt Zn)
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Mine disruption allowance breakdown
  • Zinc mine capability, market adjustment and production (kt Zn)
  • 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 January 2023

    PDF 1.04 MB