Zinc Markets Will Be In Surplus Of 273000 Tonnes In 2013- ILZSG

Zinc.......

Zinc markets are expected to remain in surplus of 273000 tonnes in 2013. The International Lead and Zinc Study Group (ILZSG) has forecasted that the total mine production of Zinc in the world will be 13.92 million tonnes, up 2.3 percent. In China, markets are expected to grow a bit slow due to oversupply situation. China mine output is expected to grow by 4.7 percent.
Refined Zinc metal production of Zinc is expected to reach 13.25 million tonnes, which is up by 5.2 percent from last year. China Zinc production is expected to increase by 9.7 percent. Refined metal production in Europe is expected to improve by 1.9 percent after restart of Porto Vesme refinery.
Global refined Zinc usage is expected to move up by 5.2 percent to 12.98 million tonnes in 2013. China usage is expected to grow by 6.8 percent. This will be majorly driven by infrastructural investment in central and western provinces and demand in automotive and machinery. European demand is expected to increase by 1.7 percent. US Zinc usage is expected at 2.9 percent.
LME three month Zinc prices are at $ 1927 per tonne, up $ 10 per tonne. MCX Zinc was trading at Rs 102.6 per kg, up 0.63 percent. The prices tested a low of Rs 102.5 per kg. LME Zinc tested a high of Rs 103 per kg.
Source by Commodity Insights