Zinc Ingot Price Trend

Zinc Ingot Prices December 2023

The price of zinc ingot in Japan for Q4 2023 reached 2733 USD/MT in December. The market in Japan demonstrated a consistent trend amid robust downstream demand and global macroeconomic uncertainties impacting prices. The economy of Japan remained steady amid global inflation, due to their long-term supply contracts securing energy costs for utility companies. It helped keep the inflation in Japan comparatively lower. The increasing demand from battery industries, particularly for Zinc-based batteries as an alternative to Lithium-ion technology, propelled price stability.

Germany price trend for zinc ingot reached 3861 USD/MT. It decreased due to a drop in demand from downstream industries, influenced by economic weakness. The prices fell as supply outpaced demand, driven by increased zinc extraction domestically and internationally. The economic downturn further reduced buyer demand, with expectations of a 0.5% contraction in manufacturing by the latter half of Q4. In the end, zinc Ingot prices in Germany experienced a slight decline due to supply risks from trade disruptions via the Red Sea and Panama Canal.

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 current price of zinc ingot but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes. 

The report also delves into 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

The European region has experienced a bearish price trend due to reduced demand from downstream industries amid economic challenges. October saw an initial price drop as supply exceeded demand, owing to the increased extraction rates domestically and internationally. Economic weaknesses, including lingering inflation and a manufacturing slowdown, further dampened buyer demand. Furthermore, the automotive and construction sectors were particularly affected, with housing sales declining and the removal of electric vehicle subsidies exacerbating the situation.

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

North America Zinc Ingot Price

In North America, the zinc ingot market has witnessed an upward trajectory. Initially, in October, prices fell due to increased production rates. Nexa Resources, a major mining company, saw an 8% growth in zinc extraction by the third quarter's end, impacting prices negatively. Subsequently, trade disruptions and reduced extraction due to winter weather led to a lower product supply. Overseas supply was further constrained by Panama Canal issues and Houthi rebel attacks. Downstream demand from construction and infrastructure slowed due to winter and holidays and the US zinc ingot market continued their upward trend.

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

The zinc ingot pricing in the Asia Pacific region is portrayed as a consistent trend amid robust downstream demand and global macroeconomic uncertainties impacting prices. The zinc Ingot prices dipped owing to surplus supply worldwide, due to the rising extraction rates at mills. The economy remained steady amid global inflation owing to long-term supply contracts securing energy costs for utility companies. This stability helped keep Japan's inflation comparatively lower.

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.