Zinc Mini

Overview

  • Zinc is the fourth most widely used metal in the world after steel, aluminium, and copper. It is hard and brittle at most temperatures, but becomes malleable between 100 °C and 150 °C. It is a fair conductor of heat and electricity and burns with a bright bluish-green flame, giving off zinc oxide fumes. Zinc occurs naturally in the earth's crust and is the 24th most abundant element, with about 1.9 billion tonnes of identified resources. It is an essential trace element and necessary for plants, animals, and microorganisms. However, high levels of zinc exposure through inhalation, ingestion, and dermal contact could cause adverse health effects.
  • Due to its resistance to non-acidic atmospheric corrosion, zinc plays a vital role in extending the life of buildings, vehicles, ships, and so on. The metal is mainly used as an anti-corrosion agent, and a coat of zinc prevents rusting of galvanized steel. It also finds its use in the automobile, battery, petroleum, paint, fungicide, rubber, and chemical industries—a few among the many industrial uses it is being put to today.
  • Stakeholders of the zinc market consisting among others, producers, exporters, marketers, processors, and SMEs, can use modern risk management techniques and strategies, including market-based risk management financial instruments like Zinc Futures, offered on the MCX platform to improve efficiencies and consolidate competitiveness.

Factors Influencing the Market

  • Zinc prices in India are fixed based on the rates that rule in the international spot market, and INR–USD exchange rates.
  • Economic events, such as the national industrial growth, global financial crisis, recession, and inflation, affect metal prices.
  • As societies develop, their demand for metal increases based on their current economic position, which could also be referred to as ‘national economic growth factor’.

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