ILZSG Declared Deficit Zinc Market in Jan-Oct ‘22

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 deficit by 118kt during the first ten months of 2022.

During Jan-Oct ‘22, global zinc mine production recorded modest decline by 3.1% upon comparison with the corresponding period a year before. The zinc mine output witnessed considerable decline in Australia, Burkina Faso, Canada, China, Ireland and Peru, which more than offset increased output in India, Portugal, South Africa and the United States.

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The refined zinc metal production during Jan-Oct ’22 totalled 11.125 million tonnes, marginally lower by 3.2% when compared with the 11.489 million tonnes of production a year before. The sharp rise in prices of electricity has negatively impacted production at several European smelters, which resulted in lower production by the region. Also, the production witnessed decline in China, Canada, Kazakhstan and Mexico. On the contrary, India recorded rise in production during this period.

The modest fall of 3.2% in global usage of refined zinc metal was mainly on account of reduced usage in countries such as China, France, Japan, the Russian Federation and Ukraine. These declines were partially offset by rises in India, Saudi Arabia and Turkiye.

The monthly global zinc mine output totalled 1.058 million tonnes in October this year. The refined zinc metal production totalled 1.079 million tonnes, whereas the usage totalled 1.151 million tonnes during the month.