According to foreign news on May 18, analysts said that the price of refined zinc is expected to be on a downward trend before 2025 as weak demand growth cannot keep up with the surge in production.
Zinc prices on the London Metal Exchange (LME) are likely to fall to $3,050/mt this year from $3,442 in 2022, to $2,525 in 2024 and as low as $2,000 in 2025, according to the CRU.
In the next five years, global refined zinc production is expected to increase by nearly 1.3 million mt, of which 800,000 mt will come from countries other than China. China's output will increase by about 500,000 mt.
Chile is the largest zinc consumer in the world.
The data also shows that in other parts of the world, the surplus of refined zinc this year is even higher than that in China, reaching 381,000 mt. By 2024 and 2025, the surplus will drop to 150,000 mt and 50,000 mt respectively.
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