In Q1 2024, the global Zinc Ingot market exhibited a significant downward trend, with key regions like China, India, the USA, and the United Kingdom all experiencing declining prices. In China, the decrease was primarily driven by sluggish demand from the construction and manufacturing sectors, alongside increased domestic inventories due to reduced exports. Similarly, India witnessed a decline as infrastructure projects slowed and the automotive industry’s zinc consumption decreased, compounded by currency fluctuations impacting imports. In the USA, a drop-in industrial activity and cautious procurement strategies amid economic uncertainties contributed to weaker zinc prices. The United Kingdom faced a similar trend, with a contraction in industrial output and high energy costs further dampening market sentiment. Collectively, these regions reflected a global zinc market under pressure from subdued demand, oversupply, and economic headwinds.
In Quarter 2 of 2024, the global Zinc Ingot market experienced an upward price trend across key regions due to robust industrial demand and tight supply dynamics. In China, increased downstream demand from the galvanizing and alloy sectors, coupled with supply constraints caused by environmental inspections, drove prices upward. Similarly, in India, strong infrastructure and construction activities, supported by government spending and higher import dependency, contributed to the rising Zinc Ingot prices. The United States saw price hikes fuelled by a rebound in manufacturing activities, especially in the automotive and construction sectors, alongside reduced domestic production due to temporary smelter shutdowns. Meanwhile, in the United Kingdom, the ongoing recovery in industrial production and higher energy costs affecting smelting operations pushed Zinc Ingot prices higher. Collectively, these regional trends underscored the growing demand for Zinc Ingots, reflecting broader global economic recovery and supply-side constraints in the market.
In Q3 2024, the global Zinc Ingot market witnessed an upward trend across key regions, driven by robust demand and supply chain dynamics. In China, the increase was fueled by strong industrial activity and infrastructure investments, with rising demand from the construction and automotive sectors. Similarly, India experienced a surge in Zinc Ingot consumption due to expanding manufacturing activities, particularly in galvanized steel production, supported by government-led infrastructure projects. In the USA, growth was attributed to increased construction and renewable energy projects, which spurred demand for corrosion-resistant materials. The United Kingdom also observed an uptick, driven by the recovery of industrial production and demand from the automotive and construction sectors. Collectively, these regional trends underscored a global increase in Zinc Ingot demand, reflecting the material’s critical role in industrial and infrastructural advancements.
In Q4 2024, the global Zinc Ingot market experienced an upward trend in key regions, driven by increased demand from construction, automotive, and galvanization sectors. In China, robust industrial activity and infrastructure projects fuelled a significant rise in zinc consumption, complemented by government initiatives to boost manufacturing output. India witnessed an upward trajectory in Zinc Ingot demand, primarily due to infrastructure expansion and rising investments in renewable energy projects requiring galvanized components. Similarly, the United States observed an increase in zinc prices, supported by steady growth in the automotive and housing sectors alongside a focus on modernizing aging infrastructure. Meanwhile, in the United Kingdom, zinc demand surged, driven by sustainable construction practices and recovery in industrial activities post-Brexit-related economic stabilization. Collectively, these factors contributed to the overall bullish sentiment in the global Zinc Ingot market during this period.
