Zinc Ingot Prices: During the second quarter of 2023 | ChemAnalyst

Chemanalyst04 Sep, 2023Business

In the second quarter of 2023, Zinc Ingot prices in North America experienced a notable decline, primarily driven by reduced demand from the construction and automotive sectors. The construction industry witnessed a slowdown due to seasonal factors, with the arrival of the monsoon affecting construction activities negatively. This decline in construction activity led to decreased demand for Galvanized steel, ultimately increasing Zinc Ingot inventories. Economic instability, stemming from a debt crisis caused by the downfall of major banks in the USA, further contributed to the pessimistic sentiment in the Zinc Ingot market.