Zinc Ingot Prices

Zinc Ingot Prices December 2023

The zinc ingot prices in Japan for Q4 2023 reached 2733 USD/MT (Zinc Ingot (SHG-99% Pure)) in December. Japan's stable economy, supported by long-term energy contracts and relatively low hike in prices, cushioned the domestic market from more severe fluctuations. Heightened consumption from battery manufacturers, who were increasingly interested in alternatives associated with zinc to Lithium-ion technology, also helped maintain price levels. Fears of supply shortages grew due to scarcities in key trading routes, such as the Panama Canal and Red Sea. Despite these challenges, the Japanese zinc ingot market remained relatively stable through the quarter.

The price trend for zinc ingot in Germany for Q4 2023, reached 3861 USD/MT (99.9%) in December. Germany saw a downward trend due to reduced product adoption from major sectors amidst a challenging economic environment. Early in the quarter, prices dropped as both regional and international mining regions reported surplus supply and heightened extraction rates. Economic struggles, marked by persistent hike in prices and a downturn in production, weakened demand, particularly in the construction and automotive sectors.

Zinc Ingot Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Zinc Ingot Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of zinc ingot pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of zinc ingot at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of zinc ingot price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing zinc ingot price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Zinc Ingot Market Analysis

The global zinc ingot market size reached 11.6 Million Tonnes in 2023. By 2032, IMARC Group expects the market to reach 14.9 Million Tonnes, at a projected CAGR of 2.90% during 2023-2032.

• The growing utilization of zinc ingots among numerous industries is propelling market growth. Additionally, refined zinc is utilized to produce zinc ingots through a process called casting. In this process, the refined zinc is melted in a furnace and then poured into molds to cool and solidify, forming ingots of standardized shapes and sizes These zinc ingots serve as a crucial raw material in galvanizing steel to protect it from corrosion.Hence the increasing steel production is propelling the market. According to American Iron and Steel Instritutre, in the week ending on April 13, 2024, domestic raw steel production was 1,726,000 net tons in America while the capability utilization rate was 77.7 percent. Moreover, these ingots are used in manufacturing alloys such as brass and bronze, producing zinc oxide for rubber and ceramic industries, and creating zinc-based batteries. Additionally, they are employed in die casting, pharmaceuticals, and electronics due to their excellent properties like corrosion resistance and electrical conductivity.
• Zinc is utilized in various applications within the renewable energy sector, most notably in batteries and as a component in solar panel frames and infrastructure. For instance, zinc-air batteries are gaining traction as an efficient storage solution for solar energy due to their high energy density, safety, and cost-effectiveness compared to other metal-air batteries, which is accelerating the product sales rate. As per the report by IMARC GROUP, the global renewable energy market reached 892.7 Billion in 2023. The market is further forecasted to reach US$1,733.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) growth rate of 7.65% during 2024-2032. Zinc is used in the galvanization of steel frames that hold solar panels. Galvanized steel is preferred for its corrosion resistance and durability, which is crucial for the longevity of solar installations, particularly in harsh environmental conditions.
• The growing urbanization leads to the development of new residential, commercial, and industrial spaces, and various infrastructures such as roads, bridges, and utilities. These construction projects are major consumers of zinc ingot such as galvanized steel, which is used for structural purposes due to its corrosion resistance. According to the U.S. Census Bureau, the urban population increased by 6.4% between 2010 and 2020 which accounts for 80.0% of the U.S. population. For instance, New York Jersey City Newark (NY-NJ) represents 19,426,449 individuals in the most populous urban areas across the country. As urban populations grow, the growing demand for housing is escalating the demand for zinc-coated roofing, siding, and other building components.

Zinc Ingot News

The report covers the latest developments, updates, and trends impacting the global zinc ingot market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the zinc ingot price trend.

Latest developments in the zinc ingot industry:

• In February 2024, Reazn S.A received first prize for the zinc category at the European Die Casting Competition 2024, and the 5th Great Place to Work award.

Product Description

A zinc ingot refers to a solid, rectangular block of pure zinc metal typically manufactured through a process called electrolysis. Zinc ingots are an essential commodity in various industries, including construction, automotive, and electronics. They serve as a primary raw material for manufacturing numerous products such as galvanized steel, zinc alloys, and electronic components. One of the key characteristics of zinc ingots is their high corrosion resistance, making them ideal for coating steel structures to protect against rust and corrosion. Additionally, zinc ingots are known for their malleability and ductility, allowing them to be easily shaped and formed into different products through processes like casting and extrusion. Consequently, zinc ingots are essential in modern manufacturing processes, contributing to the production of durable and long-lasting materials used in construction, transportation, and electronic devices.

Regional Coverage

The report provides a detailed analysis of the zinc ingot market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the zinc ingot price trend.

Global Zinc Ingot Price

The report offers a holistic view of the global zinc ingot pricing trends in the form of zinc ingot price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into zinc ingot historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into zinc ingot price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed zinc ingot demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Zinc Ingot Price

In Q4 2023, zinc ingot prices in Germany saw a downward trend due to reduced consumption from key sectors amidst a challenging economic environment. Early in the quarter, prices dropped as both regional and international mining regions reported surplus supply and heightened rates of extraction. Economic struggles, marked by persistent hike in prices and a downturn in production, weakened demand, particularly in the construction and automotive sectors. The elimination of grants regarding EVs and reduced housing market activity further dampened buyer interest. As winter continued to impact production, and risks in supply remained on account of scarcities in major trade routes, zinc ingot rates saw a gradual decline, stabilizing towards the end of the year.

This analysis can be extended to include detailed zinc ingot price information for a comprehensive list of countries.

North America Zinc Ingot Price

During the Q4 2023, zinc ingot prices in the US spot market mostly increased. The quarter began with a dip in prices in October, driven by a surplus in manufacturing, following a rise in Zinc extraction by Nexa Resources. This uptick in mining output significantly influenced Zinc Ingot prices, contributing to the initial downward trend. As winter set in, however, harsh weather conditions disrupted trade and reduced rates of extraction, tightening the supply of Zinc Ingot. Additionally, ongoing drought issues at the Panama Canal and security threats from Houthi rebels heightened concerns among buyers regarding shipping. Meanwhile, the construction sector showed little enthusiasm for bulk purchases, preferring minimal orders due to the winter slowdown and holiday season, which led to overall higher zinc ingot prices by the end of the year.

Specific zinc ingot historical data within the United States and Canada can also be provided.

Middle East and Africa Zinc Ingot Price

The report explores the zinc ingot pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on zinc ingot prices for countries can also be provided.

Asia Pacific Zinc Ingot Price

By the closure of 2023, the zinc ingot market in Japan displayed stability, despite global economic uncertainties and an earlier drop in prices. In October, zinc ingot prices fell as worldwide excess supplies and higher extraction rates dominated. However, Japan's stable economy, supported by long-term energy contracts and relatively low inflation, cushioned the domestic market from more severe fluctuations. Heightened consumption from battery manufacturers, who were increasingly interested in Zinc-based alternatives to Lithium-ion technology, also helped maintain price levels. Fears of supply shortages grew due to disruptions in key trading routes, such as the Panama Canal and Red Sea. Despite these challenges, the Japanese zinc ingot market remained relatively stable through the quarter.

This zinc ingot price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Zinc Ingot Price

The analysis of zinc ingot prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of zinc ingot pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting zinc ingot price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The zinc ingot price charts ensure our clients remain at the forefront of the industry.