Commodities Buzz: Zinc Prices Decline By 13% In July 2018

At Rs 182/kg in July 2018, Zinc prices have decreased by 13%, in comparison to Rs 209/kg during June 2018. ILZSG (International Lead and Zinc Study Group) stated that zinc business data recently compiled by the ILZSG, the global market for refined zinc metal was in surplus by 25kt over the first quarter of 2018 with total reported inventories rising by 118kt over the same period. World zinc mine production remained stable compared to the first quarter of 2017. This was mainly the result of rises in Australia, Turkey and the United States being offset by decreases in Canada, China and India. Higher refined zinc metal production in Australia, Belgium, China, Norway and Peru was partially balanced by decreases in India and the United States resulting in an overall rise globally of 1.7%. A modest 0.4% increase in global usage of refined zinc metal was mainly influenced by rises in apparent demand in China and India. In Europe, Japan, Taiwan (China) and the United States, usage was lower compared to the first quarter of 2017. Chinese imports of zinc contained in zinc concentrates rose by 21.9% to 362kt compared to the first quarter of 2017. Net imports of refined zinc metal rose by 82kt to total 136kt.