In the Asia Pacific region, the Zinc Ingot Price Index displayed mixed trends during the first quarter of 2023, buoyed by robust demand from downstream industries, particularly in China. Despite disruptions during the holiday season and economic challenges, the purchasing capacity of buyers supported this trend. However, the second quarter saw negative impacts as increased inventories resulting from heightened mining activities weighed on the market. Subdued demand and inquiries, alongside struggling economic conditions, contributed to a decline in zinc ingot prices, with figures dropping from 24,340 RMB/ton in January to approximately 19,712 RMB/ton by June.
In Europe, first-quarter demand witnessed an uptick, yet limited trading activities, fluctuating buyer confidence, and heightened global mining activities led to a downward trajectory in the second quarter. Meanwhile, North America experienced stagnant prices due to consistent demand and inflation pressures, exacerbated by a slowdown in construction activity and overall 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 chart, 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 highly valued in various industrial sectors due to their distinctive characteristics. One primary application is in galvanization, where zinc-coated surfaces offer crucial protection against corrosion for a wide range of structures, pipelines, and automotive parts. Additionally, zinc plays a vital role in alloy manufacturing, serving as a key component in alloys such as brass and die-cast zinc-aluminum alloys, thereby improving their mechanical properties.
In the battery industry, zinc ingots play a pivotal role in the production of zinc-carbon and zinc-air batteries. Moreover, they are integral to the construction sector, where they provide durable and corrosion-resistant coatings for steel and iron structures. These diverse applications underscore the importance of zinc ingots 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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