In the Asia Pacific region, the zinc ingot market witnessed mixed trends in 2023's first quarter, boosted by strong downstream industry demand, especially in China. Despite holiday season disruptions and economic challenges, buyer purchasing capacity supported the trend. The second quarter, however, saw negative impacts due to increased inventories from enhanced mining activities. Muted demand and inquiries coupled with struggling economic conditions led to declining zinc ingot prices from 24,340 RMB/ton in January to around 19,712 in June. In Europe, first-quarter demand rose while limited trading, wavering buyer confidence, and increased global mining activities contributed to a downward trend in Q2. North America experienced stagnant prices due to steady demand and inflation, exacerbated by reduced construction activity and economic decline.
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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 trend, 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 are widely employed in diverse industrial applications due to their unique properties. One major use is galvanization, where zinc-coated surfaces offer corrosion protection for structures, pipelines, and automotive components. Zinc's role extends to alloy production, as it forms essential components in alloys like brass and die-cast zinc-aluminum alloys, enhancing mechanical properties. In the battery industry, zinc ingots contribute to zinc-carbon and zinc-air batteries. Furthermore, they find application in the construction sector, providing durable, corrosion-resistant coatings for steel and iron structures. These versatile uses highlight zinc ingots' significance in 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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