According to the International Lead and Zinc Research Group (ILZSG), the global refined zinc market is expected to face a supply shortfall of 292,000 tonnes this year.
This will be the second straight year of shortages after global production fell short of demand by 193,000 tons in 2021.
For the last two years, the Group's analysis of statistical data marks a major reassessment of the dynamics of the zinc market. Last October, the company forecast a total surplus of 261,000 tons compared to 2021 and 2022.
Such are the dangers of trying to take a snapshot of rapidly changing zinc fundamentals.
The big change over the past six months has been the shutdown of European smelters in the face of historically high electricity prices exacerbated by the war in Ukraine.
Europe accounts for about 15% of the world's zinc processing capacity, which means that it is currently the main factor holding back global production rates.
Such a significant bottleneck in steel production is unusual in the zinc market, which has historically been priced based on mine production rather than refining cycles.
Subscribe to news
Metallurgy news
- 01 May 2024
10:11 US stainless steel prices continue to rise - 29 April 2024
10:57 EU steel industry faces supply and demand challenges - 12 April 2024
09:52 EU steel demand to recover in 2025 - Worldsteel - 05 April 2024
12:40 Liberty's European division is headquartered in Vienna - 01 April 2024
12:51 The number of electric vehicles in Kazakhstan has increased ninefold over the year 12:37 Liberty Czestochowa is preparing to resume production - 27 March 2024
11:38 Ferrexpo faced restrictions on the corporate rights of Ukrainian subsidiaries - 24 March 2024
12:16 Kazakhstan opened a national pavilion at a mining conference in Toronto
Publications
04.05 Bituminous shingles in the EuroRoof online store 03.05 The best price of a stretch ceiling per m2 with work in Kyiv from the manufacturer Demi-Lune 02.05 Protein in the HealthFit online store 02.05 I-beams of European standards 02.05 Fan coil units - practicality and space saving