Zinc Price Monthly and Annualy
Zinc's Price in International Commodity Markets in October 2023 is about 2,448.56 dollars per metric tonne estimated by World Bank. In the Previous Month, September 2023 zinc worth was 2,495.50 dollars per metric tonne. Last year in October 2022 the price was 2,967.21 dollars per metric tonne.
Zinc Price in Last 12 Months World Bank
Source: World-bank
Last Updated: 10 Dec 2023
| 13 | October 2022 | $ 2,967.21 | - | - |
| 12 | November 2022 | $ 2,938.92 | $ -28.29 | -0.96 % |
| 11 | December 2022 | $ 3,129.48 | $ 190.56 | 6.09 % |
| 10 | January 2023 | $ 3,309.81 | $ 180.33 | 5.45 % |
| 9 | February 2023 | $ 3,133.84 | $ -175.97 | -5.62 % |
| 8 | March 2023 | $ 2,967.46 | $ -166.38 | -5.61 % |
| 7 | April 2023 | $ 2,767.56 | $ -199.90 | -7.22 % |
| 6 | May 2023 | $ 2,475.70 | $ -291.86 | -11.79 % |
| 5 | June 2023 | $ 2,375.45 | $ -100.25 | -4.22 % |
| 4 | July 2023 | $ 2,404.65 | $ 29.20 | 1.21 % |
| 3 | August 2023 | $ 2,406.72 | $ 2.07 | 0.09 % |
| 2 | September 2023 | $ 2,495.50 | $ 88.78 | 3.56 % |
| 1 | October 2023 | $ 2,448.56 | $ -46.94 | -1.92 % |
Zinc Price Annual World Bank
The Zinc Price in 2022 was estimated to be 3,481.38 dollars per metric tonnes. This value signifies the average cost of zinc in the global market during that year.
In the preceding year, 2021, the Zinc Price was recorded at 3,002.52 dollars per metric ton. This figure represents the average cost of zinc in the global market during that particular year.
The net change in Zinc Price in 2022 amounted to an increase of 478.86 dollars. This represents a substantial growth of approximately 13.75% in the price of zinc compared to the previous year.
Source: World-bank
| 1960 | $ 246.19 | - | - |
| 1961 | $ 214.31 | $ -31.88 | -14.88 % |
| 1962 | $ 185.93 | $ -28.38 | -15.26 % |
| 1963 | $ 211.51 | $ 25.58 | 12.09 % |
| 1964 | $ 326.49 | $ 114.98 | 35.22 % |
| 1965 | $ 311.25 | $ -15.24 | -4.90 % |
| 1966 | $ 281.11 | $ -30.14 | -10.72 % |
| 1967 | $ 273.33 | $ -7.78 | -2.85 % |
| 1968 | $ 262.89 | $ -10.44 | -3.97 % |
| 1969 | $ 286.41 | $ 23.52 | 8.21 % |
| 1970 | $ 295.82 | $ 9.41 | 3.18 % |
| 1971 | $ 309.28 | $ 13.46 | 4.35 % |
| 1972 | $ 377.69 | $ 68.41 | 18.11 % |
| 1973 | $ 845.33 | $ 467.64 | 55.32 % |
| 1974 | $ 1,239.58 | $ 394.25 | 31.81 % |
| 1975 | $ 745.17 | $ -494.41 | -66.35 % |
| 1976 | $ 711.42 | $ -33.75 | -4.74 % |
| 1977 | $ 589.67 | $ -121.75 | -20.65 % |
| 1978 | $ 593.92 | $ 4.25 | 0.72 % |
| 1979 | $ 741.67 | $ 147.75 | 19.92 % |
| 1980 | $ 761.22 | $ 19.55 | 2.57 % |
| 1981 | $ 845.65 | $ 84.43 | 9.98 % |
| 1982 | $ 744.78 | $ -100.87 | -13.54 % |
| 1983 | $ 764.33 | $ 19.55 | 2.56 % |
| 1984 | $ 921.93 | $ 157.60 | 17.09 % |
| 1985 | $ 783.44 | $ -138.49 | -17.68 % |
| 1986 | $ 754.03 | $ -29.41 | -3.90 % |
| 1987 | $ 798.79 | $ 44.76 | 5.60 % |
| 1988 | $ 1,241.51 | $ 442.72 | 35.66 % |
| 1989 | $ 1,658.77 | $ 417.26 | 25.15 % |
| 1990 | $ 1,513.46 | $ -145.31 | -9.60 % |
| 1991 | $ 1,116.99 | $ -396.47 | -35.49 % |
| 1992 | $ 1,239.78 | $ 122.79 | 9.90 % |
| 1993 | $ 961.98 | $ -277.80 | -28.88 % |
| 1994 | $ 997.73 | $ 35.75 | 3.58 % |
| 1995 | $ 1,031.12 | $ 33.39 | 3.24 % |
| 1996 | $ 1,025.14 | $ -5.98 | -0.58 % |
| 1997 | $ 1,316.13 | $ 290.99 | 22.11 % |
| 1998 | $ 1,024.47 | $ -291.66 | -28.47 % |
| 1999 | $ 1,076.34 | $ 51.87 | 4.82 % |
| 2000 | $ 1,128.13 | $ 51.79 | 4.59 % |
| 2001 | $ 885.77 | $ -242.36 | -27.36 % |
| 2002 | $ 778.75 | $ -107.02 | -13.74 % |
| 2003 | $ 827.70 | $ 48.95 | 5.91 % |
| 2004 | $ 1,047.75 | $ 220.05 | 21.00 % |
| 2005 | $ 1,381.31 | $ 333.56 | 24.15 % |
| 2006 | $ 3,275.29 | $ 1,893.98 | 57.83 % |
| 2007 | $ 3,242.36 | $ -32.93 | -1.02 % |
| 2008 | $ 1,874.71 | $ -1,367.65 | -72.95 % |
| 2009 | $ 1,655.11 | $ -219.60 | -13.27 % |
| 2010 | $ 2,160.74 | $ 505.63 | 23.40 % |
| 2011 | $ 2,193.90 | $ 33.16 | 1.51 % |
| 2012 | $ 1,950.41 | $ -243.49 | -12.48 % |
| 2013 | $ 1,910.26 | $ -40.15 | -2.10 % |
| 2014 | $ 2,160.97 | $ 250.71 | 11.60 % |
| 2015 | $ 1,931.68 | $ -229.29 | -11.87 % |
| 2016 | $ 2,089.98 | $ 158.30 | 7.57 % |
| 2017 | $ 2,890.87 | $ 800.89 | 27.70 % |
| 2018 | $ 2,922.38 | $ 31.51 | 1.08 % |
| 2019 | $ 2,550.41 | $ -371.97 | -14.58 % |
| 2020 | $ 2,266.45 | $ -283.96 | -12.53 % |
| 2021 | $ 3,002.52 | $ 736.07 | 24.52 % |
| 2022 | $ 3,481.38 | $ 478.86 | 13.75 % |
Introduction
In today's dynamic global economy, the price of zinc plays a vital role in various industries, ranging from construction and automotive to electronics and agriculture. As an essential metal, zinc serves multiple purposes, making it a valuable commodity in the market. This article explores the factors that influence the price of zinc, its significance in different sectors, and its projected future.
The Significance of Zinc
Zinc, with its unique chemical properties, offers numerous benefits across multiple industries. Its primary application lies in galvanizing steel, where it works as a protective coating against corrosion. This process is widely employed in construction projects, ensuring the longevity and durability of structures, bridges, and pipelines. Additionally, zinc's anti-corrosive properties make it a critical component in the automotive sector, protecting vehicle frames and body parts from rust.
Beyond corrosion prevention, zinc plays a crucial role in the production of batteries, particularly in the form of zinc-air batteries. These batteries find extensive use in electronic devices, such as hearing aids and remote controls. Moreover, zinc oxide, a versatile compound derived from zinc, is a fundamental ingredient in the manufacturing of ceramics, rubber, and even pharmaceuticals.
Supply and Demand Dynamics
The price of zinc is significantly influenced by the fundamental principles of supply and demand. When demand for zinc rises, typically driven by economic growth, infrastructure development, and industrial expansion, the price tends to increase. Conversely, if the demand weakens due to economic downturns or reduced industrial activity, the price may experience a decline.
In recent years, emerging economies like China and India have witnessed rapid industrialization and urbanization, leading to increased demand for zinc. These countries' infrastructure projects, automobile production, and electronic manufacturing have created a surge in zinc consumption. As a result, the global demand for zinc has been on an upward trajectory, affecting its market price.
On the supply side, zinc is primarily obtained from mining activities. The availability of zinc ore deposits and the efficiency of mining operations directly impact the overall supply. Geological factors, geopolitical situations, and environmental regulations can affect the extraction and production of zinc. Any disruption in the supply chain, such as mine closures or labor strikes, can cause a decrease in zinc supply, leading to a subsequent rise in prices.
Economic Factors
In addition to supply and demand, various economic factors contribute to the fluctuation of zinc prices. Currency exchange rates, inflation, and interest rates can all impact the cost of zinc. For instance, if the local currency weakens against major global currencies, it becomes more expensive to import zinc, leading to price increases in domestic markets.
Furthermore, global economic conditions and trade policies can influence the demand for zinc. Trade tensions, tariffs, and international agreements affect the accessibility and affordability of zinc for different countries. Changes in these economic factors can disrupt the supply chain and create price volatility.
Technological Advancements
Technological advancements also play a role in shaping the zinc market. Innovations in mining techniques, refining processes, and recycling methods can affect the overall supply of zinc. Improved mining technologies and efficient extraction methods can increase production rates and potentially stabilize prices.
Moreover, advancements in battery technologies and the growing demand for electric vehicles (EVs) have a direct impact on the price of zinc. As EV adoption rises, the demand for zinc, particularly for rechargeable zinc-air batteries, is expected to surge. This trend can lead to an increased demand for zinc, potentially driving prices higher.
Environmental and Sustainability Factors
The global focus on sustainability and environmental impact has implications for the zinc market. As governments and organizations prioritize green initiatives, regulations regarding emissions, waste management, and sustainable practices are becoming more stringent. These regulations can affect the mining, refining, and manufacturing processes associated with zinc production.
Sustainable mining practices, recycling initiatives, and the development of eco-friendly alternatives to zinc coatings are gaining prominence. The adoption of such practices can influence the supply and demand dynamics, potentially impacting zinc prices.
Conclusion
In conclusion, the price of zinc is subject to a multitude of factors, ranging from supply and demand dynamics to economic conditions, technological advancements, and sustainability initiatives. As a crucial component in various industries, zinc plays a vital role in construction, automotive, electronics, and other sectors. Understanding the influential factors behind zinc prices helps stakeholders navigate the market and make informed decisions. As the global economy continues to evolve, monitoring these factors becomes essential to anticipate and adapt to price fluctuations in the zinc market.