Commodity Market Report

Global zinc short-term outlook March 2022

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The 3-month zinc price propelled to $4896/t, briefly surpassing the 2006 high. The 3-month zinc price subsequently lost altitude, before regaining some of the lost ground to finish March at $4151/t and ended the month with a spectacular $108/t backwardation. Expectations are for the current tightness in the refined market to persist. Spot TCs in China have jumped higher again, driven by the widening LME-SHFE price arbitrage.

Table of contents

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

Tables and charts

This report includes 18 images and tables including:

  • Price hits fresh high backwardation flares at month end
  • Nickel goes off the scale - drags everything up in its wake
  • Refined market tightness keeps pressure on premiums
  • Price forecasts and global quarterly supply and demand balance
  • Cumulative changes to forecast for 2021-2024 since last month
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • Comparison of revenue from different treatment charges
  • Annual concentrate balances
  • Mine disruption allowance breakdown
  • Zinc mine 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)

What's included

This report contains:

  • Document

    Global zinc short-term outlook March 2022

    PDF 970.70 KB