ILZSG Unveiled Zinc Market Outlook for 2024 and 2025

SEATTLE (Scrap Monster): Following a conference in Lisbon, Portugal, the International Lead and Zinc Study Group's (ILZSG) Statistical and Forecasting Committee released its zinc metal outlook for 2024 and 2025.

It is anticipated that the demand for refined zinc will rise 1.8% globally to 13.83 million tonnes in 2024 and then 1.6% globally to 14.04 million tonnes in 2025. The demand for zinc in Europe is predicted to decrease by 1% in 2024. A recovery in demand is anticipated in Europe, India, and Vietnam. Meanwhile, it is projected that in 2024 and 2025, Chinese demand will increase by 0.7% apiece.

This year, the supply of zinc mined worldwide is anticipated to decrease by 1.4% to 12.06 million tonnes. The supply will increase by 6.6% to 12.86 million tonnes in 2025, mostly because to the strong 8.9% rise in the overall market excluding China. The European output is expected to fall by 11.4% this year, according to ILZSG. Nonetheless, a large increase in output is anticipated in 2025.

It is anticipated that in 2024, the global supply of refined zinc will drop slightly by 1.8% to 13.67 million tonnes. Next year, the supply is probably going to rebound by 3.9% to 14.19 million tons.

ILZSG anticipates that global demand of refined zinc metal will exceed supply by 164,000 tonnes in 2024. The surplus will decline to 148,000 tonnes in 2025, it added.

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