First Quarter of 2023 in Asia Pacific 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.

Asia Pacific

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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