Commodity Market Report
Global zinc strategic planning outlook Q1 2023
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The dominant factors influencing the zinc price and market in the medium-term are set to be mainly exogenous. Coronavirus restrictions have eased but it remains an issue. Disruptions to supply chains and the inflationary pressures that were also previously easing, have been reignited by Russia's invasion of Ukraine. In the near- to medium term, our base case outlook for the zinc market is one of refined zinc stocks at close to historically low levels, only becoming excessive in the latter part of the decade. Consequently, the zinc price is forecast to remain buoyant through to 2025. We have also considered a downside scenario featuring stagflation caused, in part, by the consequences of the war in Ukraine.
Table of contents
- Long term forecasts, base case and high-low thresholds
- Medium term forecasts
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Overview
- Medium term outlook
- China
- India
- Europe
- USA
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Changes to forecast zinc consumption since previous quarter
- Market adjustments
- Mine projects
- Strategic planning outlook - Long term supply considerations
- Geopolitical landscape
- Environmental challenges
- Stricter limits on Chinese concentrate imports
- Africa
- Europe
- 6 more item(s)...
- India
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China
- Europe
- North America
Tables and charts
This report includes the following images and tables:
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The relative strength of the dollar plays a key role in influencing the zinc priceRequirement for new mine productionCost price relationships are used to forecast long-term prices
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Price forecasts and refined market balancesThe zinc market is facing substantial surpluses in the concentrate and metal markets for the medium termConcentrate market balances tableMacro economic concerns and rising metal stocks will weigh on the zinc price in the medium termNear- to medium-term price scenario price forecastsScenario prices and refined stocks in days of global consumptionGlobal zinc consumption by regionLong term growth in zinc consumption will be driven by AsiaGlobal zinc consumption is dominated by China
- 23 more item(s)...
What's included
This report contains:
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