Zinc prices averaged USD 2,770 per metric ton in April, which was 6.6% lower than March’s price of USD 2,967 per metric ton. The average price was down 36.6% from the same month last year. On 28 April, zinc traded at USD 2,651 per metric ton, which was down 10.1% from the same day of the previous month.
Prices declined further in April due to stronger supply stemming from higher production in China in March, as well as easing labor unrest in Peru. Meanwhile, demand likely weakened, as signaled by pessimistic April PMI data for China—the world’s number one consumer. On a global scale, fears of a Fed hike in May likely weighed further on demand for the metal, adding extra downward pressure on prices.
High Grade Zinc LME (prices in US$/mt, aop)
|Q1 2021||Q2 2021||Q3 2021||Q4 2021||Q1 2022||Q2 2022||Q3 2022||Q4 2022|
|High Grade Zinc LME||-||2,913||2,991||3,362||3,736||3,925||3,281||3,008|