The Zinc Ingot market in the USA continued its rally into the final week of January xxxx, building off the unexpected strong momentum since December xxxx. Prices finished the week of January xx at USD x,xxx/MT, up x.xxx on a weekly basis and x.xx higher month-on-month. Zinc Ingot, which had trailed behind for most of the previous year, has turned out to be one of the bright surprises for traders so far in early-xxxx, mainly due to supply-side constraints rather than demand-driven pressure.
Global mine production is continuing to expand at a torrid pace, but the flow of material into refined metal remains slow. A lot of the surplus concentrate is currently stuck in China, limiting availability for the global Zinc Ingot supply chain. Refined zinc output was headed for a drop of xx last year, even as mined output leaped by x.xx, reflecting...
