LOS ANGELES, Feb. 08, 2022 (GLOBE NEWSWIRE) -- After seasonal hikes, zinc prices are forecast to stumble due to an expected overproduction, according to a market research report by IndexBox. From December 2021 to January 2022, the average price for zinc of high grade and 99.95% purity rose by 6% to $3,599 per tonne, hitting the 14-year high. The price is forecast to fall by 4% to approx. $2880 per tonne this year.
In 2021, global mine production of zinc soared by 8% y/y to 13K tonnes of contained metal. Mining intensity is projected to remain high this year, resulting in a production-to-consumption surplus and price reduction. Although few zinc plants in the EU have suspended their work due to rising energy costs, China’s production increase is to offset the drop in Europe.
Global Unwrought Zinc Exports
In 2020, approx. 4.7M tonnes of zinc were exported worldwide, increasing by 8.3% compared with the previous year. In value terms, zinc exports totaled $11.4B.
The shipments of the eleven major exporters of zinc, namely South Korea, Canada, Australia, the Netherlands, Spain, Kazakhstan, India, Peru, Finland, Norway and Japan, represented more than two-thirds of total exports.
In value terms, the largest zinc supplying countries worldwide were South Korea ($1.4B), Canada ($1.2B) and Australia ($941M), with a combined 32% share of global supplies. These countries were followed by the Netherlands, Spain, India, Kazakhstan, Finland, Peru, Norway, Japan and Belgium, which accounted for a further 47%.
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Companies Mentioned in the Report
Trevali Mining, Teck Resources, Hudbay Minerals, Nevsun Resources, Arizona Mining, Canadian Zinc, Heron Resources, American Metal Company, Boliden AB, Svenska Bergsbruk, Empire Zinc Company, Isle of Man Mining Company, Kazzinc, MMG Limited, Noranda, Nyrstar, South32, Sphinx Resources, SSR Mining Inc., Stolberger Zink, Teck Resources, Volcan, Xstrata, Yunnan Jinding Zinc, Teck Alaska Inc, Nyrstar NV, Hecla Mining Co., St. Lawrence Zinc Company LLC
Sources
World - Zinc - Market Analysis, Forecast, Size, Trends and Insights
World - Articles Of Zinc - Market Analysis, Forecast, Size, Trends And Insights
World - Unwrought Zinc Alloys - Market Analysis, Forecast, Size, Trends and Insights
World - Unwrought Non-Alloy Zinc - Market Analysis, Forecast, Size, Trends and Insights
World - Zinc Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights
