While zinc quietly underpins everything from our smartphones to skyscrapers, its global production is a loud story of concentrated power, with China alone pulling 4.3 million metric tons from the ground in 2022—nearly a third of the entire world’s output.
Key Takeaways
- In 2022, global zinc mine production totaled 13.3 million metric tons, with China leading at 4.3 million metric tons.
- Peru's zinc mine production in 2022 was 1.4 million metric tons, accounting for 10.5% of global output.
- Australia's zinc production from mines reached 1.1 million metric tons in 2022.
- Global zinc reserves are estimated at 253 million metric tons as of 2022.
- Australia's zinc reserves stand at 60 million metric tons, the largest globally in 2022.
- China's identified zinc resources total 44 million metric tons in 2022.
- Global zinc consumption reached 13.4 million metric tons in 2022.
- Galvanizing accounted for 52% of global zinc consumption in 2022, or 7 million tons.
- Brass and bronze production consumed 14% of zinc, about 1.9 million tons in 2022.
- Average LME zinc price in 2022 was $3,400 per metric ton.
- Zinc spot price peaked at $4,100 per ton on LME in March 2022.
- Annual average zinc price on SHFE in 2022 was 24,500 RMB per ton.
- Global zinc exports totaled 3.8 million metric tons in 2022.
- China's zinc exports reached 0.45 million tons in 2022.
- Netherlands was the top zinc exporter with 1.2 million tons in 2022.
China leads global zinc production and consumption, with Asia dominating the market.
Consumption
1Global zinc consumption reached 13.4 million metric tons in 2022.
Verified2Galvanizing accounted for 52% of global zinc consumption in 2022, or 7 million tons.
Verified3Brass and bronze production consumed 14% of zinc, about 1.9 million tons in 2022.
Verified4Die-casting alloys used 12% of zinc consumption, equating to 1.6 million tons in 2022.
Directional5Chemicals and rubber consumed 9% or 1.2 million tons of zinc in 2022.
Single source6Construction sector zinc demand was 4.5 million tons globally in 2022.
Verified7Automotive industry consumed 1.8 million tons of zinc for galvanizing in 2022.
Verified8China's zinc consumption totaled 6.5 million metric tons in 2022.
Verified9United States zinc apparent consumption was 0.85 million tons in 2022.
Directional10Germany's zinc use reached 0.45 million tons in 2022.
Single source11India's zinc consumption grew to 1.1 million tons in 2022.
Verified12Europe consumed 2.8 million tons of zinc metal in 2022.
Verified13Recycling supplied 30% of zinc consumption, or 4 million tons in 2022.
Verified14Zinc demand for infrastructure projects increased 5% to 3.2 million tons in 2022.
Directional15Battery sector zinc use was 0.3 million tons in 2022, up 15% YoY.
Single source16Global zinc demand growth was 1.8% in 2022.
Verified17Steel galvanizing slab zinc demand was 12.5 million tons in 2022.
Verified18Zinc oxide consumption for tires reached 0.9 million tons in 2022.
Verified19Electronics industry zinc use totaled 0.2 million tons in 2022.
Directional20Renewable energy infrastructure drove 0.4 million tons zinc demand in 2022.
Single sourceConsumption Interpretation
While over half our zinc is faithfully employed as rust's relentless foe in galvanizing, its diverse talents shine from the brass in our doorknobs to the oxide in our tires, proving this blue-grey workhorse is not just about steel but the quiet skeleton of modern life.
Prices
1Average LME zinc price in 2022 was $3,400 per metric ton.
Verified2Zinc spot price peaked at $4,100 per ton on LME in March 2022.
Verified3Annual average zinc price on SHFE in 2022 was 24,500 RMB per ton.
Verified4Zinc futures price volatility index averaged 25% in 2022.
Directional5US zinc import duty-inclusive price averaged $3,600/ton in 2022.
Single source6Zinc premium for European delivery averaged $150/ton in 2022.
Verified7LME zinc 3-month price closed at $3,050/ton end of 2022.
Verified8Zinc treatment charges (TCs) averaged $45/ton in 2022.
Verified9Zinc refining charges fell to $40/dmt in Q4 2022.
Directional10Zinc cash settlement price averaged $3,450/ton on LME in 2022.
Single source11Benchmark zinc price for concentrates was 58% payable in 2022.
Verified12Zinc price correlation with copper was 0.75 in 2022.
Verified13Inflation-adjusted zinc price in 2022 was $3,200/ton in 2020 dollars.
Verified14Zinc forward curve was in contango by $50/ton average in 2022.
Directional15SHFE zinc stock levels influenced prices, averaging 50,000 tons in 2022.
Single source16LME zinc inventories hit a low of 90,000 tons in May 2022.
Verified17Zinc price forecast for 2023 averaged $3,200/ton by analysts in late 2022.
Verified18Historical zinc price high in 2022 was $4,300/ton intraday.
Verified19Zinc price dropped 15% in Q4 2022 due to demand slowdown.
DirectionalPrices Interpretation
The zinc market in 2022 was a volatile rollercoaster that peaked in a spring frenzy before slumping into a year-end hangover, leaving everyone a bit queasy and holding bills that were, on average, painfully sobering.
Production
1In 2022, global zinc mine production totaled 13.3 million metric tons, with China leading at 4.3 million metric tons.
Verified2Peru's zinc mine production in 2022 was 1.4 million metric tons, accounting for 10.5% of global output.
Verified3Australia's zinc production from mines reached 1.1 million metric tons in 2022.
Verified4India produced 0.8 million metric tons of zinc from mines in 2022.
Directional5United States zinc mine production was 0.7 million metric tons in 2022.
Single source6Mexico's zinc output from mines stood at 0.65 million metric tons in 2022.
Verified7Kazakhstan produced 0.4 million metric tons of zinc in 2022.
Verified8Canada zinc mine production was 0.35 million metric tons in 2022.
Verified9Sweden's zinc production reached 0.3 million metric tons in 2022.
Directional10Ireland produced 0.22 million metric tons of zinc from mines in 2022.
Single source11Global refined zinc production in 2022 was 13.1 million metric tons.
Verified12China's refined zinc output was 5.8 million metric tons in 2022.
Verified13South Korea refined 1.2 million metric tons of zinc in 2022.
Verified14India refined 0.95 million metric tons of zinc in 2022.
Directional15Japan produced 0.85 million metric tons of refined zinc in 2022.
Single source16Germany's refined zinc production was 0.72 million metric tons in 2022.
Verified17Zinc production at Glencore's Mount Isa mine in Australia was 220,000 metric tons in 2022.
Verified18Teck Resources' Red Dog mine in Alaska produced 552,400 metric tons of zinc in 2022.
Verified19Boliden's Aitik mine contributed 0.15 million metric tons to Sweden's zinc production in 2022.
Directional20Vedanta's Rampura Agucha mine in India produced 0.5 million metric tons of zinc concentrate in 2022.
Single source21Global zinc production grew by 2.1% from 2021 to 2022.
Verified22China's zinc mine production capacity utilization rate was 85% in 2022.
Verified23Peru's Antamina mine produced 450,000 metric tons of zinc in 2022.
Verified24Zinc output from underground mines worldwide accounted for 70% of total production in 2022.
Directional25Open-pit zinc mining produced 4.2 million metric tons globally in 2022.
Single source26Zinc production costs averaged $1,200 per metric ton in 2022 for primary producers.
Verified27Secondary zinc production from recycling reached 2.8 million metric tons worldwide in 2022.
Verified28Europe’s primary zinc smelters produced 2.1 million metric tons in 2022.
Verified29Asia dominated zinc production with 72% of global mine output in 2022.
Directional30Latin America's zinc mine production totaled 2.3 million metric tons in 2022.
Single sourceProduction Interpretation
While China solidly galvanizes its position as the world's zinc titan, producing nearly a third of all mined material, the global stage reveals a meticulous and surprisingly balanced alloy of major players, strategic smelters, and relentless recyclers, all meticulously measured down to the last metric ton.
Reserves
1Global zinc reserves are estimated at 253 million metric tons as of 2022.
Verified2Australia's zinc reserves stand at 60 million metric tons, the largest globally in 2022.
Verified3China's identified zinc resources total 44 million metric tons in 2022.
Verified4Peru holds 19 million metric tons of zinc reserves as per 2022 data.
Directional5Mexico's zinc reserves are 14 million metric tons in 2022.
Single source6India's zinc reserves amount to 7.3 million metric tons in 2022.
Verified7Russia's zinc reserves are estimated at 12 million metric tons in 2022.
Verified8United States zinc reserves totaled 9 million metric tons in 2022.
Verified9Kazakhstan's zinc reserves stand at 8 million metric tons as of 2022.
Directional10Canada's zinc reserves are 6.5 million metric tons in 2022.
Single source11Ireland holds 3.2 million metric tons of zinc reserves in 2022.
Verified12Poland's zinc reserves are 18 million metric tons in 2022.
Verified13Global zinc resources (identified) exceed 700 million metric tons in 2022.
Verified14Australia's total zinc resources are 65 million metric tons including reserves in 2022.
Directional15Sedimentary exhalative (SEDEX) deposits hold 45% of global zinc reserves in 2022.
Single source16Mississippi Valley Type (MVT) deposits account for 25% of zinc reserves worldwide in 2022.
Verified17Volcanogenic Massive Sulfide (VMS) deposits contain 15% of zinc reserves in 2022.
Verified18Zinc reserve life index globally is 19 years at 2022 production rates.
Verified19China's zinc reserve-to-production ratio was 10 years in 2022.
Directional20Australia's zinc R/P ratio exceeds 50 years based on 2022 data.
Single source21Peru's zinc reserves support 13 years of production as of 2022.
Verified22High-grade zinc reserves (>10% Zn) total 50 million metric tons globally in 2022.
Verified23Low-grade zinc resources (<5% Zn) exceed 400 million metric tons in 2022.
Verified24Zinc endowment in ocean floor nodules estimated at 250 million tons in 2022 studies.
DirectionalReserves Interpretation
While Australia currently sits on the global zinc throne with its vast reserves, boasting over half a century of supply, the world's 19-year runway highlights a pressing need to efficiently tap into our enormous, lower-grade resources and oceanic potential before this critical element becomes a relic.
Trade
1Global zinc exports totaled 3.8 million metric tons in 2022.
Verified2China's zinc exports reached 0.45 million tons in 2022.
Verified3Netherlands was the top zinc exporter with 1.2 million tons in 2022.
Verified4South Korea exported 0.95 million tons of refined zinc in 2022.
Directional5Belgium's zinc exports amounted to 0.8 million tons in 2022.
Single source6Japan's zinc exports totaled 0.3 million tons in 2022.
Verified7Australia's zinc concentrate exports were 2.1 million tons in 2022.
Verified8Peru exported 1.1 million tons of zinc concentrates in 2022.
Verified9Global zinc imports reached 3.9 million tons in 2022.
Directional10United States imported 0.7 million tons of zinc in 2022.
Single source11China's zinc imports were 0.35 million tons in 2022.
Verified12India's zinc imports totaled 0.75 million tons in 2022.
Verified13South Korea imported 0.4 million tons of zinc in 2022.
Verified14Germany's zinc imports were 0.55 million tons in 2022.
Directional15Zinc trade volume grew 4% YoY to $15 billion in 2022.
Single source16Top zinc trade route: Australia to South Korea, 0.8 million tons in 2022.
Verified17EU intra-trade zinc volume was 1.5 million tons in 2022.
Verified18US-Mexico zinc trade totaled 0.3 million tons in 2022.
Verified19Zinc concentrate trade share was 55% of total zinc trade in 2022.
Directional20Refined zinc slab trade accounted for 40% globally in 2022.
Single source21Asia-Pacific region dominated zinc imports with 45% share in 2022.
Verified22Freight costs for zinc shipping averaged $80/ton in 2022.
Verified23Anti-dumping duties on zinc from China affected 10% of US imports in 2022.
Verified24Zinc trade balance for China was +0.1 million tons in 2022.
DirectionalTrade Interpretation
Despite China's notorious industrial dominance, 2022's zinc trade reveals a surprisingly balanced global affair, with the Netherlands quietly exporting a lion's share while even the mighty U.S. relies on imports, proving that in the metallic hustle, everyone is both a supplier and a customer in this $15 billion game.
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