UNITED KINGDOM January 24 2017 3:16 PM
LONDON (Scrap Register): The global market for refined zinc metal was in deficit by 263 kilo tons over the first eleven months of 2016 with total reported inventories declining by 72kt over the same period, according to the latest data released by the ILZSG.
Despite a sharp increase in Chinese output world zinc mine production decreased by 1.2%. This was mainly due to significant reductions in Australia, India, Ireland and Peru.
Global refined zinc metal production over the first eleven months of 2016 was at the same level as the corresponding period of 2015 with increases in China and the Republic of Korea offset by reductions in Australia, India, Japan, Mexico and the United States.
A rise in global demand for refined zinc metal of 3.5% was primarily a consequence of an increase Chinese apparent usage of 8.8%. Demand in Europe was at the same level as in 2015 and in the United States declined by 12.7%.
Chinese imports of zinc contained in zinc concentrates amounted to 736kt, a fall of 42.3% compared to the same period of 2015. The country’s net imports of refined zinc metal increased by 7.9% to 382kt.