The global market for refined zinc metal was in a deficit of 123,000 tonnes over the first five months of 2019, marking a 19.41% annual increase from 103,000 tonnes a year ago, the International Lead & Zinc Study Group (ILZSG) said.
Refined zinc metal production contracted by 1% to 5.39 million tonnes in the first five months of the year compared with the same period of 2018. ILZSG reported production decreases in Canada, China, India and the Russian Federation, while output in Mexico and Peru rose in January-May this year. In China, smelters have struggled to ramp up refined zinc production amid tighter environmental controls, despite treatment charges (TCs) for concentrates rising to four-year highs. Meanwhile, Russian smelter OJSC Electrozinc shut its Vladikavkaz plant permanently in February. Both factors have caused combined production to fall. In the same period, world zinc mine production...