Zinc prices averaged USD 2,405 per metric ton in August, unchanged from July’s price of USD 2,405 per metric ton. The average price was down 33.0% year on year. On 31 August, zinc traded at USD 2,416 per metric ton, down 5.9% month on month.
After climbing in July amid hype regarding stimulus policies in China, prices fell during the first half of August, before partially recovering later in the month. Optimism regarding China’s policies seemingly faded due to a lack of concreteness, with the Chinese manufacturing sector remaining in the doldrums during the month. Additionally, demand from the U.S. and the Eurozone likely remained subdued, as signaled by pessimistic manufacturing PMI readings. On the supply side, an increase in zinc production in top producer China during July likely dented prices further.
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||-||-||2,991||3,362||3,736||3,925||3,281||3,008|