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Commodity Market Report

Global zinc short-term outlook October 2022

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31 October 2022

Global zinc short-term outlook October 2022

Report summary

Unrelenting negative news weighed heavily on the zinc price in October. Rising interest rates and inflationary pressures in the US and Europe and fresh covid lockdowns in China offset the fact that the month of October was bookended by the closure of Budel and Nordenham. Consequently the price drifted lower. The evident tightness of the European market is making the discussions for next year's annual contract premiums difficult. The key uncertainty is if and when the idled smelters will restart and the performance and survivability of the remaining plants.

Table of contents

  • Market Developments
  • Europe
  • China
  • Concentrate markets
    • Current mine developments
    • Corporate activity
    • Smelter production
    • Current smelter developments

Tables and charts

This report includes 20 images and tables including:

  • Zinc slides lower amid macro-economic uncertainty
  • A plunge in Korean exports to China has seen material redirected to the US and maybe Europe
  • Cancelled warrants point to further declines in LME stocks
  • Price forecasts and global quarterly supply and demand balance
  • Downturn in global manufacturing heralds drop in international trade and zinc demand?
  • Galvanized sheet and metallic coated sheet production
  • Key indicators of zinc consumption
  • Treatment charges $/t of concentrate
  • Comparison of revenue from different treatment charges
  • Chinese concentrate imports (kt gross weight concentrate)
  • Mine disruption allowance breakdown
  • Zinc mine capability, market adjustment and production (kt Zn)
  • Index of Chinese smelter production
  • Global refined 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 October 2022

    PDF 1009.66 KB