In the first quarter of 2023, the zinc ingot market in the Asia Pacific region exhibited a blend of trends. This was driven by robust demand from downstream industries, particularly in China, despite disruptions during the holiday season and prevailing economic challenges. The purchasing capacity of buyers played a pivotal role in sustaining this positive trend. However, in the second quarter, the market faced challenges as increased inventories resulting from heightened mining activities had negative repercussions. A combination of subdued demand, fewer inquiries, and economic difficulties led to a decline in zinc ingot prices, dropping from 24,340 RMB/ton in January to approximately 19,712 RMB/ton in June.
Meanwhile, in Europe, the first quarter witnessed an upswing in demand, but limited trading, fluctuating buyer confidence, and escalated global mining activities contributed to a downward trajectory in the second quarter. North America, on the other hand, saw stable prices as a result of consistent demand and inflation. This was further impacted by reduced construction activity and an economic downturn in the region.
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Definition
A zinc ingot is a solid block of refined zinc metal, typically cast into rectangular shapes for convenience. Zinc is a bluish-white, lustrous metal that exhibits good electrical conductivity and malleability. It has a relatively low melting point and is corrosion-resistant, forming a protective layer of zinc oxide on its surface when exposed to air. Zinc ingots are used in various industries due to these properties, ranging from galvanization and alloy production to battery manufacturing and corrosion-resistant coatings in construction and automotive applications.
Key Details About the Zinc Ingot Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Zinc Ingot in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Zinc Ingot Price trends, including India Zinc Ingot price, USA Zinc Ingot price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Zinc Ingot Price Trend:
Zinc ingots find widespread application across various industries owing to their distinctive properties. A primary utilization is in galvanization, where surfaces coated with zinc provide effective corrosion protection for structures, pipelines, and automotive components. Zinc plays a crucial role in alloy production, serving as a vital component in alloys such as brass and die-cast zinc-aluminum alloys, thereby improving mechanical properties. Within the battery industry, zinc ingots play a key role in the development of zinc-carbon and zinc-air batteries. Additionally, they are employed in the construction sector to create robust, corrosion-resistant coatings for steel and iron structures. The versatility of zinc ingots is evident in their significant contributions to corrosion prevention, alloy enhancement, battery technology, and construction materials.
Key Players:
- REAZN S.A.
- Henan Yuguang Zinc Industry Co Ltd
- Yifengxin (Hebei) Metal Production Co Ltd
- Siyaram Impex Pvt Ltd
- Phoenix Industries Ltd
News and recent developments:
Zinc fell -0.17% to 238.35 yesterday as a result of poor demand and increased supply. China, the world’s top user of zinc, reported significantly lower imports of the metal in April, showing that demand in the world’s second-largest economy remains weak. Meanwhile, output increased by 8.97% year on year to 540,000 mt in April. In addition, SMM forecasts that domestic refined zinc output in May will climb by 19,800 mt to 559,800 mt, indicating an 8.65% year-on-year increase, as routine maintenance is completed and power supply in Yunnan is eased.
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