Commodity market report

Global zinc short-term outlook March 2017

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Report summary

Concentrate tightness is now beginning to impact on smelter production. Following the announcement last month that Korea Zinc's Onsan smelter plans to produce 50kt less this year we have identified 19 smelters in China that plan temporary production cuts. It is the shortage of concentrate and the price of concentrate that are the main drivers. Meanwhile in Canada the Valleyfield smelter is being run at 50% capacity due to the on going industrial dispute. Furthermore in Peru a sustained period of heavy rains and flooding brought production temporarily to a halt at the 340kt/a Cajamarquilla smelter and forced a number of zinc miners to declare force majeure on shipments of concentrate. Contract terms for 2017 have been settled for a major Asian frame contract. Terms in Europe have not yet been agreed.

What's included

This report contains

  • Document

    Data Tables Zinc STO March.xls

    XLS 368.00 KB

  • Document

    Global zinc short-term outlook March 2017

    PDF 550.71 KB

  • Document

    Global zinc short-term outlook March 2017

    ZIP 634.30 KB

Table of contents

  • Executive summary
  • Supply-demand balances
  • Demand
  • Supply

Tables and charts

This report includes 22 images and tables including:

Images

  • LME complex catches up with zinc
  • Cancelled warrants move higher
  • Private public partnerships boost infrastructure investment
  • Galvanized sheet shipments closely linked to automotive output
  • Forecast contract term TCs in relation to historical values (base TC and realised TC)
  • Smelter zinc income
  • Mine zinc income
  • Chinese sources of concentrate imports

Tables

  • 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)
  • Zinc smelter 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)
  • Supply-demand balances: Table 1

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