Lisboa, Portugal — The International Lead and Zinc Study Group (ILZSG) has released preliminary data for world zinc supply and demand during 2013. The figures show that, after six successive years in which the market had been in surplus, global usage of refined zinc metal exceeded output by 60kt. A rise in global demand for refined zinc metal of 7.4 percent was primarily influenced by an increase in Chinese apparent demand of 13.7 percent. Usage in the United States rose by 4.6 percent, in India by 12.2 percent and in Europe by a marginal 0.5 percent.
Other keyfigures are
- An increase in global zinc mine output of 1 percent compared to 2012 was mainly due to rises in Burkina Faso, China, India, Peru and the United States that more than offset declines in Australia and Canada, where Glencore Xstrata’s Brunswick and Perseverance mines closed during the first half of the year.
- The primary influence on a rise in refined zinc output of 4.9 percent was a sharp 11.1 percent increase in reported Chinese production. Elsewhere rises in India, Italy, the Republic of Korea, Mexico and Peru were largely balanced by reductions in France, Namibia, Norway, Thailand and the United States.
- Chinese imports of zinc contained in zinc concentrates increased by 2.9 percent to 845kt but remained well below the peak of 1643kt recorded in 2009. Net imports of refined zinc metal into China increased by 22 percent to 621kt.
- Cash Settlement and Forward Three Month Prices on the LME averaged US$1909 and US$1939 respectively during 2013, 1.9 percent and 1.2 percent lower than during 2012. The highest Cash Settlement Price of US$2188 was recorded on 13 February and the lowest of US$1784 on 24 June.
- Inventories held in LME, Shanghai Futures Exchange and Chinese State Reserve Bureau (SRB) warehouses together with those reported by producers, consumers and merchants decreased by 314kt to total 1897kt. 68.3 percent of the 931kt of refined zinc metal stored in LME warehouses was held in New Orleans.
Full details are available in the February 2014 edition of the Group’s 77 page ‚Lead and Zinc Statistics‘ Bulletin. The 2014 edition of the ILZSG ‚Lead and Zinc New Mine and Smelter Projects‘ report, with details of more than 200 lead and zinc projects, is now available. Further details about the International Lead and Zinc Study Group (ILZSG) together with a full list of publications are available on the Group’s website at ilzsg.org.
Source: International Lead and Zinc Study Group (ILZSG)