World Refined Zinc Market Recorded Notable Deficit
The International Lead and Zinc Study Group (ILZSG) announced the preliminary data for world zinc supply and demand during the initial nine months of the current year. The refined zinc metal market recorded notable deficit of 305 kt during this period. The provisional figures do not include Chinese trade data for the half-yearly period from April to September 2018, ILZSG noted.
The refined zinc metal production rose marginally by 0.6% from 9.728 million tonnes during Jan-September ’17 to 9.790 million tonnes during the first nine months of 2018. Australia, Belgium, Canada, Japan, Norway and Peru reported higher production. However, the rise in production in the above countries was partially offset by production decline in China and India. The monthly output totaled 1.101 million tonnes in September ’18.
The world zinc mine production too registered marginal increase by 1.2% over the previous year to total 9.415 million tonnes during the first three quarters of 2018. The increased production from European region, especially by Finland, Greece, Ireland and Macedonia were more than offset by notable reductions in Poland and Sweden. Other major producers including Canada, China, India and Mexico recorded lower output. The mine production totaled 1.085 million tonnes in September this year.
The global usage of refined zinc metal witnessed small reduction of 0.3% when compared with the previous year. The lower year-on-year usage at 10.095 million tonnes was primarily influenced by drop in apparent demand in China, South Africa and Taiwan.
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