Glencore PLC booked the biggest decline in output by tonnage among the world's top 20 zinc producers in the fourth quarter of 2021 despite a strong commodity price environment that Zijin Mining Group Co. Ltd. was able to utilize, according to S&P Global Market Intelligence data.

While Glencore remained the biggest zinc producer during the fourth quarter of 2021 at 262,000 tonnes, the miner's quarterly zinc output fell 48,300 tonnes, or 15.6%, lower than the year-ago period.

The curtailment of zinc production at Glencore and Nyrstar NV's European smelters due to soaring energy prices boosted the London Metal Exchange three-month zinc price in October 2021, according to Commodity Insights' Metals and Mining Research team.

The price then retreated on concerns over China's economic slowdown and the U.S. Federal Reserve's decision to start tapering its bond purchases before climbing again due to high energy costs, continuing to impact zinc smelters through December 2021.

After Glencore, Teck Resources Ltd. had the second-largest output drop, producing 31,000 tonnes less than the year-ago period.

Zijin made considerable ground with the greatest percentage increases over both the year-ago period and the previous quarter, at 51.3% and 66.8%, respectively. The company's quarterly production increased by 50,393 tonnes over the prior-year period, nearly five times that of Peru's Volcan Compañía Minera SAA, whose output rose by 11,200 tonnes.

BHP Group Ltd. suffered the largest percentage decline in production over the year-ago period, falling 29.4% due to lower zinc head grades, the world's biggest miner said in its fiscal 2022 half-year report.

Meanwhile, Australia's New Century Resources Ltd. experienced the biggest percentage fall from the prior quarter. Production was halved over the period, despite reaching its highest quarterly average recovery of 50.7% and shipping over 31,000 wet tonnes of zinc concentrate from its Century operation in Queensland, Australia.

Of the world's top five zinc producers, Glencore, Teck and Nexa Resources SA all reported lower output during the December 2021 quarter compared to a year prior, while Zijin's and Hindustan Zinc Ltd.'s outputs grew over the period.

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