Global Refined Zinc Market Recorded Substantial Deficit in 2018

SEATTLE (Scrap Monster): The International Lead and Zinc Study Group (ILZSG) published detailed review of supply and demand trends for zinc metal during the previous year. The preliminary figures published by the trade body states that global market for refined zinc metal recorded a deficit of 384kt in 2018.

According to the February 2019 edition of the ILZSG Statistics Bulletin, the global zinc mine production recorded marginal increase from 12.612 million tonnes (Mt) in 2017 to 12.866 Mt in 2018. Notable jump in mine output during the year was reported by Australia. The European region reported 5.9% surge in mine output. The production declines in Canada, India, China and Mexico were more than offset by higher production in other countries such as Bolivia, Brazil, Cuba, Eritrea, Kazakhstan, South Africa, Turkey and the United States. The world zinc mine production edged higher by 2% over 2017.

The world refined zinc metal output remained more or less flat at 13.279 Mt in 2018. The output recorded significant decline in India. Production declines in China, Japan, Namibia and the US were balanced by increased output by Australia, Canada, Mexico and Peru. The European output registered 3.7% rise over the previous year.

The global refined zinc metal usage at 13.663 Mt, was a tad lower by 0.3% when compared with 2017.

The worldwide zinc mine production totaled 1.167 Mt in Dec ’18 alone. The zinc metal production and usage totaled 1.175 Mt and 1.237 Mt respectively during the last month of 2018, ILZSG data said.