Global zinc short-term outlook January 2023 Report

Commodity Market Report 31 January 2023

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

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.

Market Developments
- Korea
Concentrate markets
Production News
- Current mine developments
- Project development
- Corporate activity
- Smelter production
- Current smelter developments

Tables and charts

This report includes the following images and tables:

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