65March 2014
Non-Ferrous
Non-Ferrous Scrap Prices Reference date: March 3 2014
Zinc
In 2013, the world refined zinc market
recorded an annual deficit for the first
time since 2006, according to year-end
figures from the International Lead &
Zinc Study Group (ILZSG). Global
refined metal production climbed 4.9%
to 13.138 million tonnes last year but
usage increased by an even steeper
7.4% to 13.198 million tonnes to yield
a shortfall of 60 000 tonnes.
The consumption surge ‘was primarily
influenced by an increase in Chinese
apparent demand of 13.7%’ while the
same country’s net imports of refined
zinc jumped 22% last year to 621 000
tonnes, states the ILZSG. Year-on-year
usage gains of 4.6% in the USA and
12.2% in India dwarfed the ‘marginal’
0.5% increase achieved in Europe, the
organisation adds.
China’s refined zinc production leapt
11.1% last year whereas increases in
India, Italy, the Republic of Korea, Mexico
and Peru were largely balanced by reduc-
tions in France, Namibia, Norway, Thai-
land and the USA, the analyst reveals.
In China, the price of zinc has been held
back in recent weeks by significant
stocks on the spot market and the lack
of a recovery in demand – factors which
dampened the buying enthusiasm of
smelters and traders alike. In Shanghai,
zinc’s spot price at the start of the Chi-
nese New Year was Yuan 14 990 per
tonne (US$ 2457); following brief
upward progress to Yuan 15 060
(US$ 2468), it settled back at Yuan
14 900 (US$ 2442) later in February.
In Germany, prices for special high
grade zinc have been recorded recent-
ly at US$ 2316 per tonne while some
grades have been even more expen-
sive; meanwhile, old zinc scrap (Zebra)
has been traded at around US$ 1539.
On the Dutch market, old zinc alloy
scrap has attracted some US$ 1512 per
tonne of late.
Consumer buying interest has been
patchy and generally more cautious,
with order volumes tending to reflect
only short-term needs. In the medium
term, zinc is thought to carry plenty of
potential, with industry experts saying
prices can be expected to rise slowly but
steadily over the coming months.
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
– LME stocks (x 1000 metric tonnes)
– LME prices (in U.S. dollars/MT)
Aluminium Copper
Lead Zinc
F M A M J J A S O N D J F F M A M J J A S O N D J F
F M A M J J A S O N D J F F M A M J J A S O N D J F
250
300
350
400
1500
1000
2000
2500
3000
200
900
1000
1100
1200
1500
1000
2000
2500
3000
800
3000
4000
5000
6000
2000
400
500
600
700
7000
6000
8000
9000
10.000
300
2000
1500
2500
3000
3500
Contributing to the
Non-Ferrous Metals
Market Analysis:
• Ralf Schmitz, German
non-ferrous trade association
VDM, Europe
• Lili Shi, journalist and
consultant, China
RI-2-2014-MA Non-Ferrous.indd 65 05-03-14 15:49
