By Paul Ploumis (ScrapMonster Author)
March 18, 2016 08:34:27 AM
SPOKANE (Scrap Monster):The latest statistics published by the International Lead and Zinc Study Group (ILZSG) indicates that global refined zinc market was in surplus of 123,000 tons during the entire year 2015. The global market for refined zinc metal recorded surplus of 183,000 tons during the first half of the previous year, whereas it ended in deficit of 60,000 tons during the second half of the year.
The total reported zinc inventories at LME, Shanghai Futures Exchange and Chinese State Reserve Bureau (SRB) warehouses together with those reported by producers, consumers and merchants totaled 1501 kt, down by 55 kt.
The zinc mine output grew significantly in major producing countries including Australia, India, Peru, the Russian Federation and Sweden. On the other hand, zinc mine output by Canada, China, Ireland and Namibia declined. Overall, the zinc mine output declined marginally by 0.7% during 2015.
The refined zinc metal production during the year totaled 13.953 million tons, 3.3% higher over the previous year. The refined zinc metal production surged higher in Canada, China, India and the Republic of Korea. Meantime, Iran, Japan and Namibia reported decline in refined zinc metal production during the year.
The global demand for refined zinc metal witnessed rise of 0.7% to touch 13.830 million tons during the entire year 2015. The Chinese apparent usage increased by 1.3%. The US reported a demand decline of 4% during the year. The apparent consumption in the Europe region saw an increase of 4.33%, mainly on account of higher demand in the Czech Republic, France, Germany, Poland and the Russian Federation
Interestingly, Chinese net imports of refined zinc metal rose marginally by 1.8% to total 447 kt during 2015. The imports of zinc contained in zinc concentrates amounted to a record of 1.37 million tonnes, increasing sharply by 47.2% when matched with 2014.