First Quarter of 2023 in Europe Zinc Prices
North America
During the first quarter of 2023,
the Zinc Prices
showed an increased tendency, with CFR California prices rising from $3913 per
MT in January to $4250 per MT in March. Industry experts had predicted that the
end-user F&B, pharmaceutical, and nutraceuticals industries would continue
to navigate through mixed sentiments during the first quarter of 2023, given
the market turbulence in the preceding quarter. The market dynamics in the US
were kept in check, though, by continuous end-user demand for Zinc powder
throughout the quarter and reasonable inquiries from downstream suppliers.
Retailers in the United States benefited from the decrease in ocean shipping
costs for imports in the second part of the quarter. When demand was high,
carriers concentrated on the most profitable cargo and made record
profits.
Zinc Powder market growth in the
first quarter of 2023 was promising in the Asia Pacific region. When China
decided to suspend the COVID-19 restrictions during the first week of January,
the multitrillion-dollar economy, which had been struggling greatly over the
previous four years, received a lift. Prices in China rose steadily from $3258
per MT in January to $3770 per MT in March EXW Shanghai in the first quarter of
2023. Following a one-week Lunar Holiday, the Zinc
Ingot Prices in the local market
for food, beverages, nutraceuticals, and pharmaceuticals witnessed a roll-over
sentiment for two consecutive weeks in January. Throughout the quarter, the
Demand and Supply picture also remained positive.
Europe
The first quarter of 2023 saw a
robust start for the nutraceutical industries in Europe, thanks to an increase
in orders and shipments from both domestic and international markets.
Participants in the local market typically experienced positive arbitrage
because Zinc Powder received frequent orders from the end-use market. The
surprise reopening of China's COVID and the continued conflict between Russia
and Ukraine lessened inflation pressures even though the European market seemed
to be heading in the right direction.
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