Commodity Market Report

Global zinc short-term outlook May 2021

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28 May 2021

Global zinc short-term outlook May 2021

Report summary

A record copper price and worries about Chinese smelter production helped the zinc price to consolidate around $3000/t in May. The price strength coincided with a pick up in US and European premiums and spot treatment charges. Although many of the world's major economies are gaining momentum as their service sectors open up, growing supply chain constraints threaten to cap growth in demand. The problem continues to be the most acute in the automotive sector, but home appliance companies and house builders are also being affected.

Table of contents

  • Market Developments
  • Global
  • USA
  • Japan
  • Korea
  • Concentrate market
  • Mine production
  • Mine production news
  • Smelter production

Tables and charts

This report includes 22 images and tables including:

  • Exchange stocks move a little lower in May
  • Small uptick in Chinese spot and domestic TCs
  • Price forecasts and global quarterly supply and demand balance
  • US housing starts have returned to long-term trend despite supply-chain disruptions
  • US automotive production slides in the face of semi-conductor shortages
  • China's manufacturing activity continues to grow
  • Japanese and Korean galvanized sheet production converges
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • Quarterly concentrate balances
  • Chinese concentrate imports (kt gross weight concentrate)
  • Annual concentrate balances
  • Mine disruption allowance breakdown
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Index of Chinese smelter production
  • 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 May 2021

    PDF 1.02 MB