The 2021 forecast for refined zinc takes into account China’s National Food and Strategic Reserves Administration’s release of 180,000 tonnes of the metal. The group anticipates a smaller zinc surplus of 44,000 tonnes in 2022.
As for refined lead, the ILZSG expects supply to exceed demand by modest amounts of 27,000 tonnes and 24,000 tonnes respectively for 2021 and 2022.
The group predicts global demand for refined lead to rise by 5.5% to 12.39 million tonnes this year and by 1.7% to 12.61 million tonnes next year, after falling by 3.9% in 2020. It expects this growth to come from Brazil, India, Japan, South Korea...