Zinc
Zinc’s sacrificial galvanic layer protects ≈ 700 Mt yr of steel, from bridges to SUVs, while die-cast alloys and brass components add precision and aesthetics. As infrastructure stimulus and re-shoring swell galvanised-steel orders, demand looks stable, even before zinc-air batteries mature. Recycling from galvanised scrap and electric-arc-furnace dust already delivers a quarter of refined metal, buffering mine-grade decline.
Supply Dynamics
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China, Australia and Peru account for >50 % of mine output; ore grades drift lower, raising costs.
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Concentrate treatment charges (TCs) fluctuate with smelter bottlenecks; European energy prices constrain refined output.
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Recycling from galvanised scrap/EAF dust supplies ~25 % and is scaling via hydrometallurgical plants.
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Exploration shifts to high-grade, low-carbon deposits (e.g., solar-powered Arctic projects).
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Carbon-border taxes may favour low-emission concentrates, reshaping trade flows.
Demand Dynamics
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Galvanising intensity per tonne of rolled steel is rising with longer warranty specifications.
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Stimulus-driven bridge, grid and EV-charging projects underpin coating demand.
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Die-cast hardware and e-mobility components track consumer spending and vehicle builds.
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Zinc-air and Zn-flow batteries are at pilot stage; commercial scale could lift demand post-2030.
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Fertiliser micronutrient use grows slowly with soil-health programmes.