Global Refined Zinc Market in Modest Deficit During Jan-Nov '18

SEATTLE (Scrap Monster): The preliminary data published by the International Lead and Zinc Study Group (ILZSG) suggests deficit market for refined zinc metal during the first eleven months of 2018. The market ended in a deficit of 326kt during this period. The zinc metal production totaled 12.051 million tonnes (Mt), whereas the usage totaled 12.377 Mt, data from ILZSG Bulletin-Jan ’19 said. Also, total zinc metal inventories declined by 161kt during Jan-Nov ’18.

The world zinc mine production increased marginally by 1.7% over the previous year to total 11.809 Mt during the initial eleven-month period in 2018. The production recorded significant increases in Australia, Eritrea and the U.S. However, the output remained lower in Canada, China, India and Mexico. Region wise, Europe reported 5.2% surge in mine production, aided by increases in Finland, Greece, Macedonia and Russia, which offset production declines in Poland and Sweden.

The refined zinc metal production saw decline by 0.3%. The higher output from Australia, Belgium, Canada, Finland, Mexico, Norway and Peru was more than balanced by reduced output by India and China.

The global refined zinc metal usage witnessed a decline of 1.1%. The apparent demand slowed down in China, South Korea, South Africa and Taiwan. On the other hand, Europe as a region registered marginal rise in apparent usage of the metal.

The refined zinc metal usage totaled 1.252 Mt in Nov ’18, when compared with the monthly production of 1.155 Mt.