Zinc prices rose by 1.15% to ₹282, driven by China’s plans to issue $411 billion in special treasury bonds next year. This move aims to support the world’s largest zinc consumer amid economic challenges.
However, inventories in Shanghai Futures Exchange warehouses fell by 20.80%, indicating tighter supply conditions. The global zinc market faced a deficit of 69,100 metric tons in October, but recorded a surplus of 19,000 tons for the first ten months of 2024, down from 356,000 tons in 2023.
Lower output in key producing regions contributed to a 3.8% decline in global zinc mine production. Refined metal production also fell 1.7% year-on-year due to limited concentrate availability.
In November, China’s refined zinc production rose marginally but declined 12% year-on-year, bringing total output to 5.6 million metric tons.
