Global Refined Zinc production likely to increases to 13.42 million tons in 2018
LONDON (Scrap Register): Global refined zinc metal production in 2018 is forecast to increase by 1.4% to 13.42 million tons. A predicted increase in world output of 3% to 13.81 million tons in 2019 will primarily be a consequence of an anticipated upturn in production in China and India, according to the International Lead and Zinc Study Group.
Production in Europe is forecast to increase by 4.1% in 2018, influenced by rises in Belgium, Finland, Italy and Norway, and by a further 2.7% in 2019. Output in Australia and Canada is also anticipated to increase in both 2018 and 2019.
In the United States, output is forecast to decrease by 2.3% in 2018, with a recovery expected the following year. After remaining unchanged in 2018 production in Japan is forecast to rise by 5.5% in 2019.
With regard to the global refined zinc metal market balance, in 2018 the Group anticipates that global demand for refined zinc metal will exceed supply by 322kt resulting in a further draw down of both reported and unreported stocks.
In 2019, the market is expected to remain in deficit with the extent of the shortage forecast at 72kt.