|World Refined Zinc Market Ended in Surplus: ILZSG |
Scrap Monster - Tue Jan 4, 2:10PM CST
SEATTLE (Scrap Monster): The latest monthly statistics published by the International Lead and Zinc Study Group (ILZSG) indicates that global refined zinc market ended in surplus by 87kt over the first ten months of 2021. This is after taking into consideration the release of 180,000 tonnes of the metal by the Chinese National Food and Strategic Reserves Administration.
During the first ten months of 2021, global zinc mine production recorded modest growth of 6.1% upon comparison with the corresponding period a year before. The zinc mine output witnessed considerable decline in Brazil, Canada, Ireland, Kazakhstan and Poland. However, these declines were offset by production increases in other countries Bolivia, India, Mexico, Peru, South Africa and Turkey.
Study Group Published Zinc Metal Outlook for 2021 and 2022
World Lead Market Ended in Surplus
The refined zinc metal production during Jan-Oct ’21 totalled 11.594 million tonnes, marginally higher by 2.3% when compared with the 11.338 million tonnes a year before. The production witnessed jump in China, India, Japan, Peru and the U.S.
The 7.6% surge in global usage of refined zinc metal was mainly on account of rise in several countries and regions, particularly Europe, Brazil, China, India, Japan, Taiwan, Thailand, Turkey and the U.S.
The monthly global zinc mine output totalled 1.111 million tonnes in October 2021. The refined zinc metal production totalled 1.151 million tonnes, whereas the usage totalled 1.157 million tonnes during the month.