The International Lead and Zinc Study Group (ILZSG) has released the preliminary data for world Zinc supply and demand during the initial seven-month period of the current year. The provisional data indicates that the global zinc production has grown by almost 2% year-on-year during January to July this year.
According to ILZSG, the world market for refined zinc was in deficit by 248 kt during the first seven months of the year. The total reported stock levels declined by 291 kt during the same period.
The higher mine output from China, Mexico and the US contributed to the 3% year-on-year growth in global Zinc mine supply. On the other hand, the mine supply from Canada, Ireland and Peru declined during the quarter.
The global refined zinc metal production has increased by 4.1% during the period. This was primarily on account of increased production in China, Italy, the Republic of Korea, Norway and Poland.
The global demand for refined zinc metal rose 7.7% during the seven-month period. The apparent usage of refined metal by China and the US increased 13.8% and 8.7% respectively. The refined zinc metal usage remained flat in the Europe.
ILZSG statistics indicate that the zinc mine production during January to July this year totaled 7,713,000 tonnes as against 7,538,000 tonnes during the same period in 2013. The global refined zinc metal production during the period totaled 7,684,000 tonnes during Jan-Jul ’14 as against 7,383,000 tonnes in 2013. The apparent zinc usage totaled 7,932,000 tonnes during the initial seven-month period in 2014, higher from 7,368,000 tonnes during corresponding period in 2013.