Commodity Market Report
Global zinc short-term outlook September 2020
Report summary
The fortunes of the zinc price in September remained tied to the ebb and flow of wider financial markets, rather than its own fundamentals. After hitting an annual high this month, just two days after the S&P500 hit its record high, the price then gave up much of the gains. Meanwhile, the concentrate market continued to tighten. The dramatic falls in the price of spot concentrate in China continued into September, on top of a big reduction in August. Read more in our latest Global zinc short-term outlook for details on: • Our global zinc consumption forecasts following upward revisions • The latest supply supply-side developments • The dramatic fall in Chinese spot TCs and overall outlook for the concentrate market • Comparative value of domestic and spot concentrate to Chinese smelters
Table of contents
- Market Developments
- Global
- China
- Japan
- Concentrate market
- Mine production
- Mine production news
- Smelter production
Tables and charts
This report includes 24 images and tables including:
- Exchange stocks have accumulated in Asia and the US
- Sustained tightness in the concentrate market is forcing spot TCs lower
- The inverse correlation between the US dollar and the zinc price is at its strongest since mid-2012
- Will the dollar or zinc's fundamentals be the dominant influence on the zinc price?
- Price forecasts and global quarterly supply and demand balance
- Global trade rebounds, but volumes have yet to recover to pre-crisis levels
- Brazil has a surprisingly strong recovery
- Forecasts for China and Europe have been revised upwards
- Global consumption to fall by 6% in 2020
- Heavy equipment usage shows Chinese construction is back to normal
- Japanese automotive production and sales plunge
- Key indicators of zinc consumption
- Treatment charges $/t of concentrate
- Chinese concentrate imports (kt gross weight concentrate)
- Quarterly global concentrate balances
- Concentrate balances
- Zinc mine capability, market adjustment and production (kt Zn)
- Changes in China’s resource tax rates for zinc and lead
- 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:
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