Zinc Price Monthly and Annualy

The Price of Zinc in International Commodity Markets for March 2024 is 2,461.040 dollars per metric tonne, as estimated by the World Bank. In comparison to the previous month, February 2024, when Zinc was valued at 2,360.090 dollars per metric tonne, there has been a net change of 100.95 dollars. This represents a percentage increase of 4.10%. Looking back to March 2023, the Zinc price stood at 2,967.46 dollars per metric tonne. The current data reflects a dynamic market with a modest increase in Zinc prices from March 2023 to December 2023, signaling potential shifts in global economic trends.

Zinc Price in Last 12 Months World Bank

Source: World-bank
Last Updated: 21 Apr 2024
Index Last 12 Months Nominal US Dollars($/mt) Net-Chg Percentage-Chg
13March 2023$ 2,967.46--
12April 2023$ 2,767.56 $ -199.90-7.22 %
11May 2023$ 2,475.70 $ -291.86-11.79 %
10June 2023$ 2,375.45 $ -100.25-4.22 %
9July 2023$ 2,404.65 $ 29.201.21 %
8August 2023$ 2,406.72 $ 2.070.09 %
7September 2023$ 2,495.50 $ 88.783.56 %
6October 2023$ 2,448.56 $ -46.94-1.92 %
5November 2023$ 2,543.61 $ 95.053.74 %
4December 2023$ 2,502.39 $ -41.22-1.65 %
3January 2024$ 2,515.42 $ 13.030.52 %
2February 2024$ 2,360.09 $ -155.33-6.58 %
1March 2024$ 2,461.04 $ 100.954.10 %

Zinc Price Annual World Bank

The Zinc Price in 2023 was estimated to be 2,652.60 dollars per metric tonnes. This value signifies the average cost of zinc in the global market during that year.

In the preceding year, 2022, the Zinc Price was recorded at 3,481.38 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 2023 amounted to an decrease of -828.78 dollars. This represents a substantial growth of -31.24% in the price of zinc compared to the previous year.

Source: World-bank
Year Price Nominal US Dollars($/mt) Net-ChangePercentage-Change
1960 $ 246.19--
1961 $ 214.31 $ -31.88-14.88 %
1962 $ 185.93 $ -28.38-15.26 %
1963 $ 211.51 $ 25.5812.09 %
1964 $ 326.49 $ 114.9835.22 %
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 $ 23.528.21 %
1970 $ 295.82 $ 9.413.18 %
1971 $ 309.28 $ 13.464.35 %
1972 $ 377.69 $ 68.4118.11 %
1973 $ 845.33 $ 467.6455.32 %
1974 $ 1,239.58 $ 394.2531.81 %
1975 $ 745.17 $ -494.41-66.35 %
1976 $ 711.42 $ -33.75-4.74 %
1977 $ 589.67 $ -121.75-20.65 %
1978 $ 593.92 $ 4.250.72 %
1979 $ 741.67 $ 147.7519.92 %
1980 $ 761.22 $ 19.552.57 %
1981 $ 845.65 $ 84.439.98 %
1982 $ 744.78 $ -100.87-13.54 %
1983 $ 764.33 $ 19.552.56 %
1984 $ 921.93 $ 157.6017.09 %
1985 $ 783.44 $ -138.49-17.68 %
1986 $ 754.03 $ -29.41-3.90 %
1987 $ 798.79 $ 44.765.60 %
1988 $ 1,241.51 $ 442.7235.66 %
1989 $ 1,658.77 $ 417.2625.15 %
1990 $ 1,513.46 $ -145.31-9.60 %
1991 $ 1,116.99 $ -396.47-35.49 %
1992 $ 1,239.78 $ 122.799.90 %
1993 $ 961.98 $ -277.80-28.88 %
1994 $ 997.73 $ 35.753.58 %
1995 $ 1,031.12 $ 33.393.24 %
1996 $ 1,025.14 $ -5.98-0.58 %
1997 $ 1,316.13 $ 290.9922.11 %
1998 $ 1,024.47 $ -291.66-28.47 %
1999 $ 1,076.34 $ 51.874.82 %
2000 $ 1,128.13 $ 51.794.59 %
2001 $ 885.77 $ -242.36-27.36 %
2002 $ 778.75 $ -107.02-13.74 %
2003 $ 827.70 $ 48.955.91 %
2004 $ 1,047.75 $ 220.0521.00 %
2005 $ 1,381.31 $ 333.5624.15 %
2006 $ 3,275.29 $ 1,893.9857.83 %
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 $ 505.6323.40 %
2011 $ 2,193.90 $ 33.161.51 %
2012 $ 1,950.41 $ -243.49-12.48 %
2013 $ 1,910.26 $ -40.15-2.10 %
2014 $ 2,160.97 $ 250.7111.60 %
2015 $ 1,931.68 $ -229.29-11.87 %
2016 $ 2,089.98 $ 158.307.57 %
2017 $ 2,890.87 $ 800.8927.70 %
2018 $ 2,922.38 $ 31.511.08 %
2019 $ 2,550.41 $ -371.97-14.58 %
2020 $ 2,266.45 $ -283.96-12.53 %
2021 $ 3,002.52 $ 736.0724.52 %
2022 $ 3,481.38 $ 478.8613.75 %
2023 $ 2,652.60 $ -828.78-31.24 %

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.