Global demand for refined lead and zinc is forecast to rise in 2014 and 2015, with demand projected to outstrip supply for both metals, according to the Lisbon-based International Lead and Zinc Study Group (ILZSG).
Global demand for refined lead is expected to increase 1.4% to 11.3Mt in 2014 and 2.1% to 11.6Mt in 2015. Refined zinc demand will rise 5.1% to 13.7Mt this year and 2.9% to 14.1Mt next year, ILZSG said following the group's 59th session.
ILZSG estimated a refined lead deficit of 38,000t in 2014 and 23,000t in 2015, while refined zinc demand is expected to exceed supply by 403,000t in 2014 and 366,000t the following year.
World lead mine production is forecast to rise 2.4% to 5.56Mt in 2014 and 5.5% to 5.87Mt in 2015. Refined lead output, meanwhile, is projected to increase 1.5% to 11.3Mt in 2014 and 2.2% to 11.5Mt in 2015.
World zinc mine production is forecast to increase 1% to 13.3Mt in 2014 and 3.6% to 13.8Mt in 2015, mainly due to a rise in production in China.
Global refined zinc production is anticipated to grow 2.9% to 13.3Mt in 2014 and 3.3% to 13.7Mt in 2015, ILZSG said.