Zinc Outlook

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Expert zinc market insights

Our quarterly zinc outlook is published in our Quarterly Metals Report, which covers base, precious and ferrous metals. The impact of supply and demand fundamentals and macroeconomic implications for the zinc futures and spot prices are analysed. Our research team produce a zinc price range forecast as part of the report.

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Zinc Outlook – Q2 2024

Price momentum, in line with other base metals, changed in March due to growing speculative demand, prompting prices to reach highs not seen since September 2023. Market tightness, driven by mine closures and subsequent lower production, has led to a concentrate deficit and low treatment charges, impacting smelter profitability. Despite a decline in China’s zinc ore imports and weak domestic consumption, global zinc production is expected to remain steady. We expect prices to remain choppy, with a continued trend of marginal upside in the coming months.

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