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Zinc Gains As Global Market Deficit Increased To 62,600 Metric Tons In Dec 2023.
Zinc prices recorded a modest gain of 0.16%, settling at 214.55, driven by an increase in the global zinc market deficit, as reported by the International Lead and Zinc Study Group (ILZSG). The data revealed a deficit of 62,600 metric tons in December 2023, up from 53,500 tons in November. For the full year 2023, ILZSG data showed a surplus of 204,000 tons, in contrast to a deficit of 73,000 tons in 2022. Inventories in warehouses monitored by the Shanghai Futures Exchange witnessed a significant rise of 163.80% from the previous release on February 8.
