Steel Products Prices North America
November 3, 2020
CRU: Refined Zinc Surplus to Swell to 900,000 Tons in 2020-21
Written by Helen O’Cleary
By CRU Senior Analyst Helen O’Cleary, from CRU’s Steel Sheet Products Monitor
The impact of Covid-19 restrictions on global manufacturing this year has led to the loss of ~ 700,000 t of refined zinc demand compared to our pre-Covid-19 forecasts. Smelter output has been far less impacted, despite mine supply losses, and this has led to a sizeable refined surplus. In our Insight dated Nov. 29, “Zinc mine supply bouncing back in 2021 but market to remain tight,” we looked at how Covid-19 affected mine supply and the concentrate market, which is expected to remain tight next year even as mine output continues to recovery. In this Insight, we will look at how we see the refined market balance this year and next.
