World zinc market in abundance - MGISTS

The latest statistics published by the International Lead and Zinc Research Group (IHRC) indicate that the global market for refined zinc was in excess of 181,000 tonnes during the first four months of this year. Total stocks of zinc on the London Metal Exchange (LME) decreased by 223,000 tonnes during this period. Meanwhile, stocks of refined zinc on the Shanghai Futures Exchange rose 74,000 tons.

Producers reported inventories rose 48,000 tonnes in January-April this year. Zinc mine output in the main producing countries increased significantly over the period, including Australia, China, India, Peru and Sweden. Overall, zinc mine output rose 9.8 percent in the first four months of 2015 compared to the corresponding period last year. The output of refined zinc in the four months of 2015 was 4.604 million tonnes, and during the corresponding four-month period in 2014, the output was 4.225 million tonnes.

During the first four months of 2015, production of refined zinc increased in Canada, China, India and the Republic of Korea. World demand for zinc products showed an increase of 1.8 percent, reaching 4.423 million tons in January-April this year. China increased its zinc use by 3.4 percent. The US reported a 13.3 percent drop in demand during this period. Apparent consumption in the Europe region fell 3 percent. Interestingly, Chinese imports of refined zinc fell 69 percent during January-April 2015 compared to the corresponding period in 2014. China's imports of refined zinc totaled 81,000 tons during the reporting period.

Preliminary figures from the International Research Group indicate that the global output of zinc mines during April 2015 was 1,152,000 tons. Global production of refined zinc reached 1.175 million tonnes, while global demand for zinc was 1.170 million tonnes.