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Zinc Ingot Price Trend and Forecast
Get the latest insights on price movement and trend analysis of Zinc Ingot in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Zinc Ingot Price Trend for the October - December of 2023
The zig-zaw movement of zinc ingot prices in the last quarter of 2023, especially in the Chinese market, was based on a number of factors. The start of the fourth quarter was smooth for the zinc ingot prices as the consumer dynamics and efficient manufacturing activities equally balanced out each other.
However, the number of exports from the Asian ports increased, particularly to the US, as the US Department of Commerce released sanctions on one of the major zinc producers globally, which in turn raised the demand for Asian zinc ingot and helped its price trend to climb. On the other hand, the limited mining activities and serious environmental impacts of increasing mining projects caused ripples in the zinc ingot market.
The fires in the Russian Ozerny mine rattled the European zinc ingot price trend in the last quarter of 2023. As the company was still assessing the losses, the delay in the zinc import and export timetable caused the zinc ingot price trend to oscillate. Just after the news broke out, the prices of zinc ingot shot up but soon retreated to their normal levels. This quick bounce back of the zinc ingot prices was based on the back of high supplies from overseas industries and curtailed raw materials segments in the supply chains.
The sharp fall in the US currency pushed the trajectory of zinc ingot prices in a downward spiral. The region also acquired the ill effects of the declining cost of crude oil and other related commodities.
Additionally, excessive supplies of raw materials shifted the market conditions from a deficit to a surplus gradually as the end of the year approached. By the mid of December, the zinc inventories had surpassed the demand by 295,000 MT which was thus evident in the downturn in the zinc ingot price trend.
According to Procurement Resource, the price trend of Zinc Ingot are estimated to struggle with limited production as the new mining expenditures around the globe will now have to adhere to environmental regulations.
Zinc Ingot Price Trend for the July-September of 2023
The zinc ingot price trend in Asian countries became stagnant and observed a stunted growth rate as the falling economic parameters and rising inflationary pressure dictated its trajectory. The reduction in consumption, especially from the downstream automotive industries and the availability of cheap imports, raised the bar of uncertainty in the region. The later months of the third quarter, however, benefited from the rise in sales of the automotive sector and the depletion in inventories.
The European countries' feeble momentum of automotive and battery industries struggled with a rise in competitiveness from the Chinese manufacturers. Additionally, the rise in the concerns amongst the manufacturers due to financial constraints in the region also had an adverse effect on the rates of production and imbalanced the supply-demand equilibrium, thus resulting in the downfall of the zinc ingot price trend.
Stable production rates supported the inventories, which in turn were sufficient to cater to the existing demand for the zinc ingot in the third quarter. Similar to the European countries, the rise in competition in the market due to the influx of Asian imports and soaring inflation rates affected the market dynamics for zinc ingot. Amid the economic crisis, the downstream industries were also forced to lower their rates of procurement of zinc ingot, thus hampering the zinc ingot price trajectory.
According to Procurement Resource, the price trend of Zinc Ingot are estimated to witness significant turmoil with consistently falling demand and excessive inflationary pressure.
Zinc Ingot Price Trend for the First Half of 2023
The zinc ingot market depreciated in the second quarter of 2023 in the Asia Pacific region; however, the trend in the first quarter was supported by the hike in demand from the downstream industries, especially in the Chinese market. The holiday season, uncertainties in the banking sector, and sliding economic conditions proved to be challenges for the zinc ingot market, but the purchasing capacity of buyers supported the overall zinc ingot trend.
The second quarter was negatively impacted by the rise in the level of inventories due to enhanced mining activities resulting in the high influx of material in the market, while the number of inquiries and overall demand from the downstream industries remained muted amid the struggling economic conditions.
The demand for zinc ingot in the first quarter of 2023 inclined as the level of imports slumped. However, some month-on-month disruptions were also observed. Demand from coil-related products supported the rise in the price trend, but limited trading activities and receding confidence of buyers in the market due to fluctuating economic conditions continued to be a problem for the zinc ingot market. Due to this, the trend ultimately declined in the second quarter.
The mining activities also surged globally that led to an influx of high volumes of the product in the region, but the consumer demand was not sufficient to cater to the rising inventories due to the declining trajectory followed by the construction and automobile industries that ultimately led to the fall in the prices of zinc ingot.
Unlike the European and Asia Pacific regions, the first quarter was not favorable for the zinc ingot market. The price trend was stagnant due to steady demand and rising rates of inflation. This continued to be a problem in the second quarter also.
The market of galvanized steel was adversely affected by the reduction in construction activities due to the onset of the monsoon season. In addition to this, the North American market was also adversely affected by declining economic conditions, rising inflation rates, and a halt in the consumption of natural gas and fuels, leading to a drop in their prices.
According to Procurement Resource, the price trend of zinc ingot is estimated to follow a declining trajectory. The price trend will be negatively impacted by the subdued demand from the construction sector and falling global economic conditions.
Procurement Resource provides latest prices of Zinc Ingot. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Refined zinc metal in the form of a solid block is called zinc ingot which is produced via smelting and purification of zinc. This ingot is bluish white in color with high malleability and ductility and low melting point. In addition to this, zinc ingot also has high corrosion resistance as it forms a layer of oxide over its surface, that protects the core material. Zinc's ability to alloy with other metals makes it valuable in various industrial applications, from galvanization to alloy production, owing to its unique combination of properties.
|Cathode protection, Paint and coating industry, Rubber and plastic industry, Die-casting, Battery production
|REAZN S.A., Henan Yuguang Zinc Industry Co Ltd, Yifengxin (Hebei) Metal Production Co Ltd, Siyaram Impex Pvt Ltd, Phoenix Industries Ltd
|Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|US$ (Data can also be provided in local currency)
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In this multi-step process, the zinc ore is first melted in a furnace along with several other alkali metals to form an alloy. The molt is cooled and shaped into ingots in the subsequent steps to get zinc ingot.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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Phone:+1 307 363 1045
Phone: +91 1203185500
Phone: +44 7537 132103