Study Group Published Zinc Metal Outlook for 2021 and 2022

SEATTLE (Scrap Monster):  The 66^th session of the International Lead and Zinc Study Group (ILZSG) held via web conference on 7^th and 8^th of this month provided Zinc outlook for 2021 and 2022.

According to forecasts by ILZSG Statistical and Forecasting Committee, the global demand for refined zinc metal is likely to rise by 6.2% to 14.09 million tonnes in 2021. Also, the demand is expected to edge higher further by 2.3% to 14.41 million tonnes next year. The Chinese demand, which is expected to increase by 2.1% in 2021, will further surge higher by 1.5% in 2022.

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The world zinc mine supply is forecast to rise by 4.7% to 12.85 million tonnes in 2021, followed by 4.2% surge in 2022 to total 13.39 million tonnes. The projected increases are mainly on account of rises in Bolivia, India, Mexico, Peru, South Africa and Kazakhstan. However, the increases in the above countries will be partially be balanced by expected declines in brazil, Namibia and Poland.

The 2021 world refined zinc production at 14.13 million tonnes, will be higher by 2.5% from the previous year. Also, the Group foresees further rise in production by 2.3% to 14.45 million tonnes in 2022.

ILZSG anticipates that global supply of refined zinc metal will exceed demand by 217,000 tonnes in 2021. In 2022, it expects the zinc market to record a lower market surplus of 44,000 tonnes.