The global lead and zinc market is expected to be oversupplied in 2025, according to an updated forecast from the International Lead and Zinc Study Group (ILZSG).According to the organization, refined lead production will increase by 1.9% to 13.27 million tonnes, mainly due to growth in China, India, Mexico and the United States. At the same time, production is expected to decline in Europe and South Korea.Global lead consumption could increase by 1.5% to 13.19 million tonnes. Demand will increase in Brazil, India, Japan and the United States, but decrease in South Korea. In China, the largest consumer of the metal, growth is expected to be 0.9% after a decline in 2024.As a result, the global lead surplus in 2025 is forecast at 82 thousand tons.As for zinc, its global output in 2025 is expected to increase by 1.8% to 13.73 million tons.
The largest growth is expected in China (+3.8%), as well as in Norway, where Boliden has completed the expansion of the Odda plant. At the same time, output will decrease in Japan, Italy and South Korea due to the closure of individual enterprises.Global zinc consumption will increase by 1% to 13.64 million tons. Demand will increase in the PRC, Brazil, India and Turkey, but decrease in South Korea. ILZSG also warns that further deterioration of the global economy may negatively affect metal consumption.The zinc market surplus in 2025 is expected to be 93 thousand tons.ILZSG, established under the auspices of the UN in 1959, unites more than 25 countries, which account for more than 85% of the world's production and consumption of lead and zinc.
Source: https://minprom.ua/news/321272.html
