ILZSG: Global Refined Lead Demand to Witness Surge

The apparent usage is expected to rise in India, Mexico, Taiwan and Vietnam, but is likely to fall in the Republic of Korea.

SEATTLE (Scrap Monster): The International Lead and Zinc Study Group (ILZSG), in its latest session held recently in Lisbon, Portugal, announced outlook for lead metal for 2023 and 2024. Also, the meeting reviewed the current levels of world supply and demand for the metal.

The global demand for refined lead metal is predicted to increase marginally by 1.1% to 12.80 million tonnes in 2023, and by 2.2% to 13.08 million tonnes by next year, ILZSG press release said.

The European lead demand is expected to record surge by 3.7% in 2023, mainly driven by increased demand from Austria, Germany, Greece, Italy and Poland, which will more than offset decline in the Czech Republic. It must be noted that the European demand had registered decline by 3% in 2022.

The apparent usage is expected to rise in India, Mexico, Taiwan and Vietnam, but is likely to fall in the Republic of Korea. The Chinese apparent demand is anticipated to increase by 1.9% and 2.4% in 2023 and 2024 respectively. In the U.S., the apparent demand for the metal is expected to decline sharply by 6.4% this year, followed by a moderate recovery of 3.1% in 2024.

Meantime, the world lead mine supply is forecast to grow by 3.3% to 4.58 million tonnes this year and by 2.9% to 4.71 million tonnes nest year.

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