ILZSG Published Lead Metal Outlook for 2024

SEATTLE (Scrap Monster): The International Lead and Zinc Study Group (ILZSG), in its spring meetings held in Lisbon, Portugal last week, announced its outlook for lead metal for the current year.

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After review of current trends, the study group noted that the global demand for refined lead is anticipated to record an increase by 1.9% in 2024 to 13.42 million tonnes. The apparent usage in the U.S. is forecast to rise by 0.7% in 2024, recovering from the 3.8% fall recorded last year. The European usage, which recorded strong growth by 6.7% in 2023, is predicted to rise further by 1% this year. The Chinese demand too is anticipated to record 1.6% growth. ILZSG predicts demand growth in other countries, including India, Japan, the Republic of Korea and Mexico.

The world lead mine production is anticipated to grow by 1.8% to 4.59 million tonnes in 2024, driven by increases in Australia, Bosnia and Herzegovina, Bulgaria and Mexico. Also, the world refined lead metal output is expected to total 13.46 million tonnes, recording a growth by 1.4% over the previous year. Europe will register an overall growth in refined lead metal production by 0.9% during the current year.

The global supply of refined lead metal is expected to exceed demand by 40,000 tonnes in 2024, ILZSG noted.