Q1 2024 – Prices for Zinc Oxide in the APAC region surged significantly during Q1 2024. Demand was driven strongly by downstream industries like rubber and coatings, mainly as a result of positive market sentiment and increased economic activity. Moreover, changes in feedstock cost for Zinc Ingot directly affected Zinc Oxide prices, leading to a rise when feedstock cost rose. Interestingly, India’s prices saw tremendous variation wherein price shots at the beginning of the quarter with strong domestic demand coupled with high Zinc Ingot costs. Overall, there was fluctuation in Zinc Oxide market, however it continued to be upbeat due to strong demand forces.
Q2 2024 – The APAC Zinc Oxide price moved northbound during Q2 2024 as it gained from strong domestic demand, increasing Zinc Ingot cost, and global supply chain disruption. India recorded the most significant price hike with a boost from its dynamic manufacturing sector, which continues to record very high demand from rubber and coating industries. Favourable weather conditions further boosted industrial activities. The overall trend remains positive, with increasing demand, stable supply, and an optimistic market sentiment.
Q3 2024 – Prices for Zinc Oxide surged in Q3 2024 in APAC. As monsoon season continued in major Asian countries, weather disturbances caused supply shortages while congested ports added to supply restrictions. Demand from the rubber and coatings industries was steady while it softened for paints and coatings. Yet prices stayed upward bound because of constant supply tightness and port congestion. India saw the maximum price movement, with prices rising steadily throughout the quarter on the back of strong industrial demand and tight supply conditions. Zinc Oxide prices in APAC registered a 3% growth in Q3 2024, reflecting the prevailing bullish market sentiment.
Q4 2024 – Zinc Oxide prices in Q4 of 2024 would depend upon various factors, including international economic conditions, supply chain disruptions, geopolitical tensions, and energy costs. This would be because a booming global economy could propel up demand, while continued supply chain concerns and increasing energy costs will tend to send the prices higher. That said, recent stability in Zinc prices might temper this.