Zinc Price OutlookAfter recovering from their second-lowest point in nearly two years in mid-September and holding largely stable in the following weeks, zinc prices trended downwards in the last week of October. On 2 November, zinc traded at USD 2,601 per metric ton, which was down 3.1% from the same day in the previous month. Moreover, the price was down 21.1% from the same day last year and was 22.1% lower on a year-to-date basis. Upward pressure to prices during most of October stemmed largely from supply factors. Zinc inventories in London Metal Exchange warehouses continued to decline and approached near-decade lows in the month, while stockpiles in the Shanghai Futures Exchange slid to their lowest levels since 2007—both highlighting the global supply shortage. Available data also showed that refined zinc output in China—the world’s largest producer and consumer of the metal used to galvanize steel—dropped for the fourth consecutive month in September. This, coupled with production cutbacks at smelters, due to the environmental crackdown by authorities and compressed profit margins, have further tightened supply, lending support to prices. Nevertheless, despite supply shortages pushing up prices, recent weak manufacturing activity data in China, as well as rising concerns over the impact of the escalating trade dispute with the U.S. on its growth outlook ultimately weighed on the base metal prices.
Zinc Price History Data (USD per metric ton, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Zinc Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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