World refined zinc metal output is forecast to rise by 2.7 percent to 13.16 million tons in 2011 and by 2.4 percent to 13.48 million tons in 2012.
“A predicted rise in global zinc mine supply of 4.3 percent to 12.77 million tons this year will be primarily influenced by increases in China, India, Kazakhstan, Mexico and the Russian Federation which will more than balance declines in Peru and the US,” ILZSG said in a statement.
“In 2012, production in China, India and the Russian Federation is expected to continue to rise and this, together with a forecast recovery in Peru and anticipated additional output in Burkina Faso, Canada, Saudi Arabia and Uzbekistan, is predicted to result in a further increase in world production of 4.8 percent to 13.37 million tons.”
Global demand for refined zinc metal is forecast to grow at 2.2 percent to 12.85 million tons in 2011 and by 3.9 percent to 13.35 million tons in 2012.
European demand in 2011 is predicted to increase by 2.5 percent and then by a further 1 percent in 2012. A similar trend is expected in the US with modest rises both this year and next of 1.4 percent and 1.3 percent respectively.
“An expected fall in the rate of growth of Chinese apparent demand to 2.1 percent in 2011 is likely to have been partially influenced by the destocking of unreported inventories after a build-up of stock in 2010,” it said.
“In 2012, Chinese apparent usage is forecast to rise by 5.7 percent.”
