Global supply of refined zinc will exceed demand in 2021, widening the market surplus to 353,000 tonnes this year despite a global recovery in demand after the Covid-19 pandemic, the International Lead and Zinc Study Group (ILZSG) said.
The ILZSG expects global demand for refined zinc metal to rise by 4.3% to 13.78 million tonnes in 2021 after it fell by 3.9% last year, it said on Friday April 30 in its latest note.While it forecast Chinse zinc usage to increase by 1.8% to 6.84 million tonnes from 6.72 million tonnes in 2020, it foresees steeper rebounds in Europe after last year's pandemic-inspired fall of 8.7%
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