The International Lead and Zinc Study Group released its Spring 2017 meetings/forecasts report, which found global demand for refined zinc metal is expected to increase 2.6% to 14.30 million tons this year.
Want a short- and medium-term buying outlook for aluminum, copper, tin, lead, zinc, nickel and several forms of steel? Subscribe to our monthly buying outlook reports!
The ILZSG report stated: “There has been little change in European zinc demand over the past five years and further stability is anticipated in 2017 with increases in Belgium, Italy and the Russian Federation being partially offset by a decline in France resulting in an overall rise for the region of a modest 0.7%.”
Furthermore, the ILZSG report found that a significant decrease in apparent demand in the United States last year was most likely influenced “by a drawdown in unreported stocks,” and it’s expected that apparent usage will recover this year to a level similar to what was seen in 2015.
Zinc Supply to Increase with Demand
After experiencing a decline of 5.5% last year, worldwide zinc mine production is expected to grow 6.7% to 13.70 million tons this year. Read more