ILZSG Announced 2024 Zinc Metal Outlook

SEATTLE (Scrap Monster): According to latest report published by the International Lead and Zinc Study Group (ILZSG), the global demand for refined zinc metal is forecast to touch 13.96 million tonnes, recording a year-on-year jump by 1.8%.

The metal demand in China, which had surged higher by 7.1% in 2023, is forecast to rise moderately by 1.4% in 2024. Elsewhere, the demand is expected to increase in India, Italy, Japan, Turkiye and the U.S. On the other hand, Australia, Bulgaria, Korea and Spain are likely to witness drop in zinc demand.

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ILZSG predicts marginal rise in world zinc mine production by 0.7% to 12.42 million tonnes during the current year. This follows a 1.2% decline in poutput may roduction during the previous year. The projected rise will be mainly on account of increased production from several countries including Australia, Mexico and the Democratic Republic of Congo.

Meantime, the production is expected to decline in Canada, South Africa, the U.S. and Peru. The Chinese mine production is predicted to grow by 1% during the current year. The European mine output is expected to decline further by 7.9% in 2024, after recording a fall by 6.2% during 2023.

The Chinese refined zinc metal output is predicted to grow by 1%. The production is also expected to record increases in Australia, the Republic of Korea, Japan and Mexico. On the other hand, the Canadian metal output may fall.

ILZSG predicts the world refined zinc metal market at a surplus of nearly 56,000 tonnes in 2024.