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Global demand for refined zinc and lead will exceed supply in 2023, the International Lead and Zinc Study Group (ILZSG) said on Thursday.
Global demand for refined zinc metal will exceed supply in 2023 with the extent of the deficit currently forecast at a modest 45,000 tonnes, the ILZSG said.
“After declining by 2.5% in 2022, world zinc mine production is forecast to rise by 3% to 12.86 million tonnes in 2023.”
ILZSG noted that after a fall of 3.9% in 2022, global demand for refined zinc metal is forecast to rise by 2.1% to 13.80 million tonnes in 2023.
Global demand for refined lead metal will exceed supply by 20,000 tonnes in 2023, the group said.
Global demand for refined lead metal is anticipated to increase by 1.7% this year to 12.53 million tonnes while world lead mine production is forecast to grow by 2.8% to 4.56 million tonnes, the organization said.
(By Arpan Varghese and Ashitha Shivaprasad; Editing by Alison Williams and Kirsten Donovan)
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