ILZSG Announced Lead Market Outlook for 2024 and 2025

SEATTLE (Scrap Monster): The International Lead and Zinc Study Group (ILZSG) Statistical and Forecasting Committee, in a recently held meeting at Lisbon, Portugal, released its lead outlook for 2024 and 2025.

The demand for refined lead metal is predicted to increase slightly by 0.2% to 13.13 million tonnes globally in 2024 before rising by 1.9% to 13.39 million tonnes the following year. It is anticipated that in 2024, demand for lead in Europe would decline by 1.8%. Mexico and Europe are expected to see a rebound in demand. In the meantime, it is anticipated that Chinese demand would rise by 0.5% in 2025 and by 0.9% this year.

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ILZSG Published Lead Metal Outlook for 2024

The global lead mine supply is likely to record 1.7% growth this year to 4.54 million tonnes. In 2024, the supply will grow by 2.1% to 4.64 million tonnes. The Chinese production will see an increase of 0.5% and 1.5% in 2024 and 2025 respectively. According to ILZSG, this year will see a significant increase in the output of Mexican lead mines.

After a forecast fall of 0.2% to 13.20 million tonnes this year, the world refined lead supply is expected to rise by 2.4% to 13.51 million tonnes in 2025. The supply of metal is expected to decrease in the UK while increasing in China, India, and Canada.

ILZSG anticipates that global supply of refined lead metal will exceed demand by 63,000 tonnes in 2024. The surplus will see further jump to 121,000 tonnes in 2025, it added.