Commodity market report
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31 Pages

Global zinc short-term outlook November 2016

Global zinc short-term outlook November 2016

Report summary

The recent enthusiasm of Chinese retail investors for commodities expanded to zinc this month. The unexpected jump in Chinese prices spilt over into the LME and was amplified by short covering which helped to propel the zinc price to $2907/t at one point, it's highest level for nine years. This years price rise has been fuelled in part by the clear evidence of the tightening of the concentrate market where treatment charges have fallen to their lowest levels since 2012.

What's included?

This report includes 2 file(s)

  • Global zinc short-term outlook November 2016 PDF - 605.27 KB 31 Pages, 14 Tables, 11 Figures
  • Data Tables Zinc STO November.xls XLS - 331.50 KB


As global demand weakens and commodity prices fall, we're seeing a challenging environment in the metals and mining industry. Mining companies are increasingly coming under pressure to reduce operating costs, causing many to shift their strategic planning, delay new investments and look to long-term future growth.

This Zinc Short Term Outlook report provides a detailed breakdown of global supply and demand balances in this market, as well as price forecasts.

Mining companies, investment banks and investors can use this report to understand the future direction of the ferrous and base metals market. It will also help you assess the impact of key industry issues and events on market balances and pricing.

From acquisitions to investments, Wood Mackenzie helps you plan, forecast and benchmark in the metals markets. Our proprietary database and analyst expertise combines robust production, consumption and pricing data with detailed analysis to identify market opportunities.

We give you a holistic view of the ferrous and base metals markets so you have the confidence to make strategic decisions.

  • Executive summary
  • Supply-demand balances
    • Market Developments
  • Demand
    • Global
    • USA
    • China
      • Galvanized sheet and metallic coated sheet production
  • Supply
    • Concentrate market
    • November mine production news
      • Zinc mine capability, market adjustment and production (kt Zn)
    • Smelter production news
      • Index of monthly Chinese smelter production
      • Zinc smelter capability, market adjustment and production (kt Zn)
      • Global zinc mine production (kt Zn)
      • Zinc stocks, prices and premiums

In this report there are 25 tables or charts, including:

  • Executive summary
    • Zinc key forecasts
  • Supply-demand balances
    • Short covering helps zinc price to nine year high
    • Price rise ignores stronger dollar
    • Exchange stocks drift lower
    • Price forecasts and global quarterly supply and demand balance
  • Demand
    • US automotive production is levelling off
    • Chinese economy gains momentum with all PMIs pointing to exapansion
    • Demand: Table 1
    • Key indicators of zinc consumption
  • Supply
    • Treatment charges $/t of concentrate
    • Chinese smelter revenues from imported concentrate have fallen in 2016
    • China domestic TC (Rmb/t conc)
    • Smelter revenue from domestic TC ($/t conc)
    • Chinese sources of concentrate imports
    • Concentrate Balances
    • Index of monthly Chinese mine production
    • Supply: Table 3
    • Supply: Image 6
    • Supply: Table 4
    • Global zinc consumption - (kt Zn)
    • Supply: Table 6
    • Global zinc smelter production (kt Zn)
    • Supply: Table 8
    • Chinese trade data (kt)
    • Global slab zinc supply/demand balance (kt)
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