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Event Overview

Over 150 executives from along the industry value chain and from the five continents gathered in Istanbul in May for the 18th Zinc & its Markets Seminar. The event kicked off with a field trip to Marmara Siegener Galvaniz, one of the country’s premier batch galvanizers, followed by an excellent boat trip and dinner in an old palace on the shores of the Bosphorus, courtesy of Ekin Maden, the largest importer of zinc into Turkey.

The Seminar sessions provided an in-depth forum for examining the drivers and dynamics of the global zinc market as it moves into mid-decade. An excellent line-up of speakers shared their views and market expertise – giving us these take-aways:

 

  • 2014 will not be zinc's year; 2015 perhaps. The stocks’ overhang and questions of levels of demand in China this year will keep a lid on prices
  • The concentrate supply line – despite only a 1% growth in mine output in 2013 – has eased, offering smelters some respite in terms of TCs
  • However ,a concentrate deficit is looming later in the decade. The timing and extent of this will depend on exactly when Century stops production and new mines like Dugald River come on stream but importantly on how much concentrate China will need to import
  • Mine projects there are in abundance but many will not get funding. Juniors and explorers will be the hardest hit. They will have to turn increasingly to alternative forms of finance such as private equity, ECAs and multilaterals
  • Chinese mine production has grown significantly in recent years but the country continues to invest more and more in overseas mine assets
  • Consumption is looking reasonably robust in the established markets of Europe and North America with construction and automotive leading the way
  • Recycling – especially EAF dust – will continue to provide a growing valuable source of zinc units
  • Both the LME and SHFE are working hard to make their zinc contracts more attractive and user friendly – internationalisation and innovation are the key words today
  • Within a few years, Turkish supply of zinc raw materials (concentrate and Waelz oxide from EAF dust) could grow to the point where a domestic smelter would be feasible. Certainly the local demand is there and there have been precious few smelter projects outside China in recent years
  • Turkish hospitality is second to none……!

What our delegates had to say:

Good, as always – Marek Drosik, ZGH Boleslaw

Excellent overview of the zinc market, excellent presentations and great networking opportunities – Angel Galindo, Tecnicas Reunidas

Well organised, rich content – Selin Burcu Akman, Galder

The most up-to-date information for the zinc industry – Ross Cooper, Hatch

All was perfect, congratulation for this good organisation, first time for me in one of your events, but I think I will come to others in the future - Arnaud Zedet, Galvacaux

 

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