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Commodity Market Report

Global zinc short-term outlook September 2022

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30 September 2022

Global zinc short-term outlook September 2022

Report summary

Tumultuous financial markets pushed base metal prices lower in September. The dramatic sell-off was mirrored across the LME and appears to have been driven by a realisation amongst investors that the US Federal Reserve remains extremely hawkish on inflation and that there was little chance of a pause in the pace of increasing interest rates. European spot premiums remained steady but with news from Glencore that it will be idling its Nordenham zinc smelter, it seems more likely that spot premiums will be moving higher soon. Meanwhile, in the concentrate market, China spot TCs moved higher with improved availability of zinc concentrate.

Table of contents

  • Market Developments
  • China
  • United States
  • Concentrate markets
    • Current mine developments
    • Project development
    • Corporate activity
    • Smelter production
    • Current smelter developments

Tables and charts

This report includes 18 images and tables including:

  • Spreads narrow amid sell-off
  • Exchange stocks close to record lows
  • Premiums remain high
  • Price forecasts and global quarterly supply and demand balance
  • 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 September 2022

    PDF 1005.38 KB