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
- 03 June 2025
07:49 Trump doubles duties for steel imports in the United States up to 50% 07:36 European hot-rolled steel plants are reducing their supply - 27 May 2025
13:10 US Steel will remain in America and form a partnership with Nippon, as Trump said - 14 May 2025
10:25 Ukraine and the United States signed additional documents on the implementation of an agreement on the supply of minerals - 09 May 2025
13:09 Overview of global production of steel and capacity Meps - 23 April 2025
13:09 The roof for the new stadium of the football club Manchester United will be erected from steel - 14 April 2025
14:24 Turkish exporters must take into account the EU trade adjustments - 07 April 2025
12:11 World markets in free fall, since Trump deepens into a tariff medicine
Publications
15.06 Yak is easy to inexpensively atonit іnter’hr | Interested in vid Dengo 15.06 Autotrimach for the phone - Zeruchniy, Bezpeka I Style on Khenya Day 14.06 Defhycite Robitnitviv in Ukrainian: yak shi zmіnyu rinke 10.06 Rozcritte 7 Arcana: Shlyakh of Sil, Vibor that inside Kervannya 09.06 Gas block in the era "green" Budіvnitvva: MIF Chi Realty Ekologa?