ILZSG Announced Lead 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 Lead outlook for 2021 and 2022.

According to forecasts by ILZSG Statistical and Forecasting Committee, the global demand for refined lead metal is likely to rise by 5.5% to 12.39 million tonnes in 2021. Also, the demand is expected to edge higher by 1.7% to 12.61 million tonnes next year. The Chinese demand, which is expected to increase by 1.7% in 2021, will further surge higher by 1% in 2022.

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The world lead mine supply is forecast to rise by 4.1% to 4.68 million tonnes in 2021, followed by 2.8% surge in 2022 to total 4.81 million tonnes. The projected increases are mainly on account of rises in Australia, Bolivia, India, Mexico and Peru. The cumulative production by the above countries will witness substantial growth of 16.5%. On the contrary, the European output is expected to fall by 1.2%.

The 2021 world refined lead supply at 12.42 million tonnes, will be higher by 4.4% from the previous year. Also, the Group foresees further rise in supply by 1.7% to 12.63 million tonnes in 2022.

ILZSG anticipates that global supply of refined lead metal will exceed demand by 27,000 tonnes in 2021. In 2022, it expects the lead market to record a lower market surplus of 24,000 tonnes.