Commodity Market Report
Global zinc short-term outlook September 2023
Report summary
Despite little evidence of a significant fundamental change to its dynamics, the zinc price moved higher in September. Having started the month at $2455/t, the price oscillated around this level for most of the month. However, a slide in the US dollar and sharp rise in oil prices saw metal prices track higher and the zinc price broke through the $2600/t level for the first time since mid-May. Meanwhile, exchange stocks shifted lower with inventories falling on both the LME and SHFE. This took LME stocks back towards July levels. At the end of August, cancelled warrants on the LME stood at 21%, and despite this month’s outflows they have risen to 46%, so LME stocks have the potential for further significant outflows, likely from warehouses in SE Asia for delivery to China.
Table of contents
-
Format change announcement
- A new look for our short-term outlook reports
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global zinc short-term outlook April 2024
The price climbed above $2900/t on the final day of the month, its highest level for over 12 months.
$5,000
Commodity Market Report
Global zinc short-term outlook February 2024
January's rally proved short lived and the price came under short selling pressure this month.
$5,000
Commodity Market Report
Global zinc short-term outlook March 2024
After starting the month at the $2362/t, the price manged to touch a high of $2523/t mid-month, but it failed to hold on to its gains.
$5,000
