Commodity Market Report

Global zinc short-term outlook March 2023

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The sell off in zinc that began last month was lent additional momentum by the crisis surrounding the failure of Silicon Valley Bank and the forced sale of Credit Suisse to its rival UBS. Worries that the crisis could escalate into systemic failures in the banking system saw equity markets fall and risk-off selling undermine base metal prices, zinc included. However, with indications that the crisis in the US regional banking sector seems to have been contained and heightened expectations that US interest rates will not move as high as previously expected, came a degree of stabilisation in global financial markets.

Table of contents

Tables and charts

This report includes the following images and tables:

  • The zinc price has tracked equity markets in the wake of the SVB crisis
  • Zinc remains in the middle of the pack
  • Shanghai stocks slide
  • Spot premiums slip in Europe
  • Price forecasts and global quarterly supply and demand balance
  • Changes to consumption forecasts
  • Automotive production gets off to a weak start
  • Galvanized sheet exports pick up, further rises expected
  • Treatment charges $/t of concentrate
  • Comparison of revenue from different treatment charges
  • Negative SHFE-LME price arbitrage shrinks
  • Chinese concentrate imports (kt gross weight concentrate)
  • 12 more item(s)...

What's included

This report contains:

  • Document

    Global zinc short-term outlook March 2023

    PDF 1.15 MB