ILZSG Declared Surplus Refined Zinc Market

SEATTLE (Scrap Monster): The latest monthly statistics published by the International Lead and Zinc Study Group (ILZSG) indicates that global refined zinc market ended in surplus by 182kt during the first four months of 2024.

During Jan-Apr ‘24, global zinc mine production recorded modest decline by 3.2% upon comparison with the corresponding period a year before. The zinc mine output witnessed considerable decline in Canada, South Africa, Turkiye and Peru. The production in Ireland and Portugal too remained lower. However, the output surged higher in Brazil, Kazakhstan and the U.S.

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The refined zinc metal production during Jan-Apr ‘24 totalled 4.519 million tonnes, marginally higher by 0.1% when compared with the 4.515 million tonnes of production a year before. The production reported jumps in Canada, China, France, Japan and Germany, where the Nordenham smelter resumed production in March. But, these were largely offset by output reductions in Mexico, the Netherlands, Norway and Peru.

The modest rise of 2.5% in global usage of refined zinc metal was mainly on account of increased usage in countries such as Brazil, China, France, India, the Republic of Korea, Taiwan (China) and Thailand. These were partially offset by declines in Italy, Peru and the United States.

The monthly global zinc mine output totalled 961,600 tonnes in April this year. The refined zinc metal production totalled 1.117 million tonnes, whereas the usage totalled 1.095 million tonnes during the month.