Zinc Ingot Prices: During the second quarter of 2023 | ChemAnalyst
For the Quarter Ending June 2023 North America: In the second quarter of 2023, Zinc Ingot prices in North America experienced a notable decline, primarily driven by reduced demand from the construction and automotive sectors. The construction industry witnessed a slowdown due to seasonal factors, with the arrival of the monsoon affecting construction activities negatively. This decline in construction activity led to decreased demand for Galvanized steel, ultimately increasing Zinc Ingot inventories. Economic instability, stemming from a debt crisis caused by the downfall of major banks in the USA, further contributed to the pessimistic sentiment in the Zinc Ingot market. Rising inflation both domestically and globally added to the market's gloomy outlook. Meanwhile, Zinc feedstock inventories remained high as mining activities intensified, including the Tala Hamza Zinc Project by Terramin Australia Limited and Sibanye Stillwater's acquisition of the New Century Zinc mine in...