Zinc market flips to surplus, lead still in deficit in Q1: ILZSG

The global refined zinc market logged a modest surplus in the first quarter due to rising inventories that have kept a lid on premiums for the metal, although market participants are expecting higher freight rates to spur a pickup.

The global refined zinc surplus stood at 25,000 tonnes in the first three months of the year, in contrast to an 18,000-tonne deficit in the same period last year, according to International Zinc and Lead Study Group (ILZSG) data released on Wednesday May 16.

The Lisbon, Portugal-based trade group attributed the surplus to rising global inventories - up 118,000 tonnes year on year during the first quarter - and an increase in metal production to 3.3 million tonnes from 3.25 million tonnes in the same...


Dalton Barker

May 17, 2018

02:52 GMT