Zinc Price OutlookZinc prices have been on a downward trajectory after hitting a 10-month high in mid-April. On 5 July, zinc traded at USD 2,404 per metric ton, which was 6.8% lower than on the same day in June. In addition, the price was down 4.5% on a year-to-date basis and was 12.2% lower than on the same day last year. Indications of rising supply was primarily behind the decline in prices seen over the past month. Production of refined zinc in China, which is the world’s both largest consumer and producer of the metal used to galvanize steel, rose over 7.0% year-on-year in May. This, coupled with signs that the increased output is moving into London Metal Exchange warehouses, where inventories are already at over-decade lows, has hinted at a better supplied market, thus pushing prices down. Moreover, although stockpiles of the base metal at the Shanghai Futures Exchange are also currently at extremely low levels, they have begun to recover. Added to this are reports of increasing smelting capacity in the Asian giant, which, together with slower operations across downstream sectors and dwindling demand amid the quieter summer months, seem to have weighed on prices. Factory activity data in China has also disappointed recently, with the PMI entering contractionary territory in June, thus likely putting further pressure on prices.
Zinc Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Zinc Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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