Commodity Market Report

Global zinc short-term outlook November 2017

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30 November 2017

Global zinc short-term outlook November 2017

Report summary

The zinc market set a calmer tone in November with the price losing some ground and volatility declining. Nevertheless, the large backwardation between the cash and three months price has proved persistent and interestingly, has thus far, failed to attract significant tonnages of metal into the LME's warehouses. Continued outflows from the LME and Shanghai Futures Exchange have reduced exchange stocks to the equivalent of just over seven days of global consumption, their lowest level since September 2008.

Table of contents

  • Executive summary
    • Market Developments
      • Price forecasts and global quarterly supply and demand balance
    • Global
    • Russia
    • Turkey
    • South Korea
      • Galvanized sheet and metallic coated sheet production
    • Concentrate market
      • Chinese sources of concentrate imports
    • November mine production news
    • Smelter production news

Tables and charts

This report includes 21 images and tables including:

  • Zinc key forecasts
  • Zinc price eases but the backwardation is sustained
  • Exchange stocks fall to lowest level since September 2008
  • The global manufacturing sector has built a strong foundation for further growth in 2018
  • Galvanized sheet production hits record high in August
  • Treatment charges $/t of concentrate
  • Index of monthly Chinese mine production
  • Index of monthly reported Chinese smelter production
  • Smelter utilization rates
  • 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
  • Demand: Table 1
  • Key indicators of zinc consumption
  • Supply: Image 1
  • Supply: Table 2

What's included

This report contains:

  • Document

    Data Tables Zinc STO November.xls

    XLS 294.50 KB

  • Document

    Global zinc short-term outlook November 2017

    PDF 684.88 KB

  • Document

    Global zinc short-term outlook November 2017

    ZIP 761.49 KB

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