The exact worth of an ounce of zinc is approximately $0.08740.
Current Zinc Price Overview
Zinc is an industrial metal primarily traded in bulk quantities on global commodity markets, with prices typically quoted per metric ton. Based on recent market data, the price of zinc is $3,082.80 per metric ton. To determine the value of an ounce of zinc, this bulk price needs to be converted into a per-ounce measurement.
Converting Zinc Price to Ounces
To find the value of one ounce of zinc, we convert the price per metric ton using standard weight conversions.
Conversion Factors
- 1 metric ton (MT) = 1,000 kilograms (kg)
- 1 kilogram (kg) = 2.20462262 pounds (lb)
- 1 pound (lb) = 16 ounces (oz)
Calculation Steps
- Calculate the total ounces in one metric ton:
1,000 kg/MT × 2.20462262 lb/kg × 16 oz/lb = 35,273.96192 ounces per metric ton. - Divide the price per metric ton by the total ounces per metric ton:
$3,082.80 / 35,273.96192 ounces ≈ $0.08739947 per ounce.
Zinc Price Per Ounce
Based on the current market value of $3,082.80 per metric ton, an ounce of zinc is worth:
| Unit | Price (USD) |
|---|---|
| Per Metric Ton | $3,082.80 |
| Per Ounce | $0.08740 |
Note: The price per ounce is rounded to five decimal places for practical currency representation.
Factors Influencing Zinc Prices
The price of zinc, like other industrial metals, is dynamic and influenced by a variety of global economic and industrial factors:
- Supply and Demand: Global production levels from mines and smelters, coupled with industrial consumption, are primary drivers.
- Global Economic Growth: Zinc demand is closely tied to industrial activity, construction, and manufacturing. Periods of strong economic growth typically lead to higher zinc prices.
- Industrial Applications:
- Galvanizing: The largest use of zinc is in galvanizing steel to prevent corrosion, widely used in construction, automotive, and infrastructure.
- Alloys: Zinc is a key component in alloys like brass (with copper) and in die-casting for various components.
- Batteries: It's used in certain types of batteries (e.g., zinc-carbon, zinc-air).
- Other Uses: Zinc compounds are used in rubber production, agriculture (fertilizers), and pharmaceuticals.
- Inventory Levels: Stock levels in warehouses monitored by commodity exchanges can signal supply gluts or shortages.
- Currency Fluctuations: As zinc is priced in U.S. dollars, a stronger dollar can make zinc more expensive for buyers using other currencies, potentially impacting demand.
