Global lead, zinc markets to be in surplus in 2022- ILZSG

Credit: REUTERS/Ilya Naymushin

Adds production, supply details

Oct 12 (Reuters) - Supply of global refined lead and zinc will likely exceed demand this year and the next, the International Lead and Zinc Study Group (ILZSG) said on Tuesday.

Supply of lead is forecast to see a surplus of 27,000 tonnes and 24,000 tonnes respectively in 2021 and 2022, while zinc will see a surplus of 217,000 tonnes, and a smaller 44,000 tonnes this year and the next, the ILZSG said.

The group forecasts global demand for refined zinc to increase by 2.3% to 14.41 million tonnes in 2022, and global zinc mine production by 4.2% to 13.39 million tonnes.

World lead mine production is forecast to increase by 2.8% to 4.81 million tonnes in 2022, while global demand is anticipated to rise by 1.7% to 12.61 million tonnes in 2022, the ILZSG said.

In China, the supply of zinc concentrates is anticipated to rise by 2.3% in 2021 and by 0.7% in 2022. Output in the world ex-China is forecast to increase more rapidly, at 5.9% and 5.8% in 2021 and 2022 respectively, it said.

(Reporting by Arpan Varghese and Bharat Govind Gautam in Bengaluru, Editing by Louise Heavens)

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