Global refined zinc was in deficit in 9M of 2018 – ILZSG

According to preliminary data recently compiled by the ILZSG, the global market for refined zinc metal was in deficit by 305kt over the first nine months of 2018 with total reported inventories decreasing by 64kt over the same period. World zinc mine production rose by 1.2%, mainly influenced by increases in Australia, Peru and the United States. In Europe, a 3.2% rise was primarily a consequence of increases in Finland, Greece, Ireland and Macedonia, that more than offset reductions in Poland and Sweden. In Canada, China, India and Mexico, output was lower compared to the first nine months of 2017. Higher refined zinc metal production in Australia, Belgium, Canada, Japan, Norway and Peru was partially balanced by decreases in China and India resulting in an overall rise globally of 0.6%. A small 0.3% reduction in global usage of refined zinc metal was mainly influenced by decreases in apparent demand in China, South Africa and Taiwan (China). In Europe usage increased by 1.3%, influenced by rises in Belgium, France, Poland and the Russian Federation that more than offset reductions in apparent usage in Germany and Italy.