ILZSG Released World Zinc Supply and Demand Trends in 2024

SEATTLE (Scrap Monster): According to the International Lead and Zinc Study Group's (ILZSG) 2024 analysis of global zinc supply and demand, the world market for refined zinc metal saw a 62kt shortfall during the course of the year.

Global zinc mine production saw a little decrease of 2.8% in the previous year compared to the previous one. Canada, China, South Africa, and Peru all saw significant drops in zinc mining output, with the Antamina mine seeing the biggest drop. Portugal and Ireland also continued to produce less. In Bolivia, Mexico, and Congo, however, the output increased dramatically.

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In 2024, 13.545 million tonnes of refined zinc metal were produced, which was a slight decrease of 2.6% from the 13.909 million tonnes produced the year before. France, India, and Germany saw jumps, according to the company. However, ILZSG pointed out that they were substantially countered by output declines in China, Canada, Japan, the Republic of Korea, the Netherlands, Norway, and the Russian Federation.

Increased use in nations including Brazil, India, the Republic of Korea, Mexico, Turkiye, and Vietnam was the primary cause of the slight 0.1% increase in the world's use of refined zinc metal. The declines in China, Europe, and the US largely countered these.