Commodity market report

Global zinc short-term outlook June 2017

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Report summary

The zinc price rebounded to over $2730/t during June from a low of $2434/t. The price benefited from a combination of positive macro-economic news that buoyed investor sentiment. And continued improvements in zinc fundamentals that encouraged investors to buy back into zinc. Perhaps the most significant development from a fundamental perspective was the almost 10% year on year decline in Chinese refined zinc production. With output for the first five months of the year down by 1.7%, this seems to confirm anecdotal reports this year that environmental and health and safety issues are constraining Chinese mine production. The expectation of higher prices has triggered record levels of activity amongst junior miners developing old mines, some of which has been closed in recent years, but most being "zombie mines" having been shut for many years.

What's included

This report contains

  • Document

    Data Tables Zinc STO June.xls

    XLS 295.50 KB

  • Document

    Global zinc short-term outlook June 2017

    PDF 678.18 KB

  • Document

    Global zinc short-term outlook June 2017

    ZIP 755.92 KB

Table of contents

Tables and charts

This report includes 25 images and tables including:


  • Zinc regains momentum
  • Cancelled warrants hit record high on LME
  • Exchange stocks fall to their lowest levels since early 2009
  • PMIs point to manufacturing growth in most major economies
  • Demand: Image 2
  • Demand: Image 3
  • Galvanized sheet production moving higher
  • Chinese sources of concentrate imports
  • Index of monthly Chinese mine production
  • Index of monthly Chinese smelter production


  • Zinc key forecasts
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • Concentrate balances
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Thirty old mines that have been under consideration for re-activation in recent months
  • Supply-demand balances: Table 1
  • Supply: Table 5
  • 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)

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