Zinc prices averaged USD 2,486 per metric ton in May, which was down 10.3% from April’s price of USD 2,770 per metric ton. The average price was 34.1% lower than in the same month last year. On 31 May, zinc traded at USD 2,230 per metric ton, which was 15.9% lower than on the same day of the previous month.
Prices extended their losses in May as demand weakened further and supply dynamics remained robust. Negative manufacturing PMI data for China, the U.S. and the Eurozone, as well as a struggling Chinese construction sector weighed negatively on prices. Additionally, expectations of stronger supply in the coming months strengthened. This was due to lower energy prices relative to last year—zinc smelting is an energy-intensive process—and higher treatment and refining charges.
This chart displays Zinc (US$/mt) from 2021 to 2023.
High Grade Zinc LME (prices in US$/mt, aop)
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| High Grade Zinc LME | - | 2,913 | 2,991 | 3,362 | 3,736 | 3,925 | 3,281 | 3,008 |