Zinc prices averaged USD 3,106 per metric ton in October, up 9.1% from September. On 31 October, the commodity traded at USD 3,031 per metric ton, down 0.8% from 30 September.
Prices extended their gains in October on supply woes and healthier demand. China’s manufacturing PMI entered expansionary territory in October for the first time since April. Additionally, Canadian producer Teck recently announced that it expects a decline of up to 12% in output this year following a fire at its British Columbia plant in September. Against this backdrop of tight supply, zinc spot prices have soared above futures prices on the LME.
This chart displays Zinc (US$/mt) from 2022 to 2024.
High Grade Zinc LME (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| High Grade Zinc LME | 3,130 | 2,536 | 2,434 | 2,500 | 2,449 | 2,833 | 2,781 | - |