SEATTLE (Scrap Monster): The recently held session of International Lead and Zinc Study Group (ILZSG) in Lisbon, Portugal released a detailed report outlining the zinc outlook for 2018 and 2019.
In accordance with the ILZSG report, refined zinc metal demand across the world is forecast to increase marginally by 0.4% to 13.74 million tonnes in 2018. It predicts the demand to hit 13.88 million tonnes in 2019, increasing further by 1.1%. The Chinese apparent demand may fall marginally by 0.5% in 2018, but is likely to rise modestly by 0.8% in 2019. The U.S. demand is forecast to increase by 2.1% and 0.9% in 2018 and 2019 respectively. Demand growth in Belgium, France, Italy and Norway will be partially offset by drop in demand in Germany, thereby resulting in 1.6% growth in European demand. The regional demand may rise further by 1% in the next year.
The global zinc mine production is likely to increase by 2% in 2018 to touch 13.03 million tonnes. ILZSG foresees the production to further surge by 6.4% next year to total 13.87 million tonnes. The Australian mine production will see notable increase during the current year. However, overall output is likely to be impacted by reduced supply from China, Canada, India, Kazakhstan and Mexico.
The global refined zinc metal production in 2018 is predicted to increase by 1.4% to 13.42 million tonnes and by 3% to 13.81 million tonnes in 2019. ILZSG predicts zinc market deficit of 322kt and 72kt for 2018 and 2019 respectively.
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