{"id":68489,"date":"2023-10-04T01:34:38","date_gmt":"2023-10-04T05:34:38","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/zinc-prices-to-hold-steady-amid-global-supply-surplus\/"},"modified":"2023-10-04T01:34:41","modified_gmt":"2023-10-04T05:34:41","slug":"zinc-prices-to-hold-steady-amid-global-supply-surplus","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=68489","title":{"rendered":"Zinc prices to hold steady amid global supply surplus"},"content":{"rendered":"
\n

China’s property crisis in the last quarter has been a significant factor in the fluctuation of zinc prices, which have seen a drop from $3,100 to $2,500 a tonne. As of Wednesday, the London Metal Exchange (LME) spot price is at $2,601 a tonne. Despite this, experts predict that zinc prices will remain stable through December.<\/p>\n

The Australian Office of the Chief Economist (AOCE) forecasts an average price of $2,700 a tonne for 2023. This projection is based on reduced zinc production in Europe and Australia. On the other hand, the International Lead and Zinc Study Group (ILZSG) reported a surplus of 370,000 tonnes in global zinc supply over demand for the first half of 2023.<\/p>\n

Market signals also suggest an increase in demand. ING Think pointed out a rise in cancelled warrants at LME warehouses and declining inventories on the Shanghai Futures Exchange as indicators of increasing demand. <\/p>\n

Despite these signs, BMI Research maintains a long-term negative view on zinc prices. They forecast an average price of $2,150 per tonne from 2024 to 2027. Furthermore, they anticipate ‘weak zinc demand growth’.<\/p>\n

While there are differing views on the future trajectory of zinc prices, current market conditions suggest stability for the remainder of 2023.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

China’s property crisis in the last quarter has been a significant factor in the fluctuation of zinc prices, which have seen a drop from $3,100 to $2,500 a tonne. As of Wednesday, the London Metal Exchange (LME) spot price is at $2,601 a tonne. Despite this, experts predict that zinc prices will remain stable through […]<\/p>\n","protected":false},"author":1,"featured_media":2090,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-68489","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nZinc prices to hold steady amid global supply surplus | iFintechWorld<\/title>\n<meta name=\"description\" content=\"China's property crisis in the last quarter has been a significant factor in the fluctuation of zinc prices, which have seen a drop from $3,100 to $2,500\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=68489\" \/>\n<meta property=\"og:locale\" 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