COMEX Zinc Inventory
Physical zinc stocks at COMEX-approved delivery points
What Is COMEX Zinc Inventory?
COMEX zinc inventory represents the total physical zinc stored at CME Group-approved delivery points. Zinc is measured in metric tons and categorized as warranted (available for delivery against futures contracts) and non-warranted (meets quality standards but not registered for delivery). These stocks provide transparency into North American zinc supply.
Why Zinc Inventory Matters
Zinc is essential for protecting steel infrastructure through galvanizing, making it a bellwether for construction and industrial activity. Global zinc mine production is around 13 million metric tons annually, with demand closely tracking economic cycles. Inventory drawdowns often correlate with periods of infrastructure investment and economic growth.
Frequently Asked Questions
- How is COMEX zinc inventory measured?
- COMEX zinc inventory is measured in metric tons. Stocks are divided into warranted (registered) and non-warranted (eligible) categories at approved delivery points.
- What is zinc used for?
- Zinc is primarily used for galvanizing steel to prevent corrosion, accounting for about 50% of demand. Other uses include zinc alloys (die casting), brass production, batteries, and chemical compounds. It is the fourth most consumed metal globally after iron, aluminum, and copper.
- How does COMEX zinc compare to LME zinc?
- The LME is the dominant exchange for zinc futures globally, with warehouses worldwide. COMEX zinc futures provide a North American pricing benchmark. Monitoring both exchanges gives a complete picture of global zinc supply.
- Why does zinc inventory matter?
- Zinc inventory is an indicator of industrial activity, particularly in construction and infrastructure. Low inventory levels can signal strong demand from galvanizing and manufacturing sectors, while rising stocks may indicate slowing economic activity.