Commodity Market Report

Global zinc short-term outlook October 2019

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25 October 2019

Global zinc short-term outlook October 2019

Report summary

Fundamentals have reasserted their influence over the zinc price. A combination of further falls in exchange stocks, a widening of the cash to three months backwardation and the news that the Skorpion zinc smelter in Namibia has been forced to suspend production, helped the price climb to over $2500/t. The availability of concentrate continues to improve as evidenced from spot treatment charges which, albeit in thin markets, have moved to $295/t in October up from $290/t in September.

Table of contents

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

Tables and charts

This report includes 17 images and tables including:

  • The continued decline in LME stocks has supported a return of the backwardation
  • Fresh long positions help price move higher
  • Price forecasts and global quarterly supply and demand balance
  • AIA billings index points to falling galvanized sheet shipments in the coming months
  • Chinese fixed asset investment is starting to recover
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • Concentrate balances
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Index of monthly Chinese refined 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

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