Commodity Market Report

Global zinc short-term outlook November 2021

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This month the first concrete evidence of the impact of power prices emerged with Glencore saying that it will idle the concentrate-based part of its Portovesme zinc smelter in Sardinia, as soon as it can for an indefinite period. While the news of the idling of a 125kt/a smelter did spark some price excitement, although in comparison to October's excitement the response was dull and with the growing worries surrounding the emergence of the omicron covid variant, the rally ran out of steam and fell back towards $3300/t.

Table of contents

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

Tables and charts

This report includes 21 images and tables including:

  • The impact of interest rates on the zinc price has varied ...
  • ... market balances are more important
  • Spot premiums surge
  • Price forecasts and global quarterly supply and demand balance
  • Manufacturing regains momentum
  • Global trade has stabilised above pre-pandemic levels
  • US stimulus will boost zinc demand from infrastructure
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • 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 November 2021

    PDF 1.03 MB