Global refined zinc market swings to 88,000-ton deficit
2026-11-02 11:26:34 [Print]
The International Lead and Zinc Study Group (ILZSG) revised its 2026 global refined zinc outlook from a previous 271,000-ton surplus to an 88,000-ton deficit.
Global refined zinc demand is expected to increase 1.4% to 14.02 million tons in 2026, while supply rises only 0.9% to 13.93 million tons. Global zinc mine output is forecast to fall 2.6% to 12.40 million tons due to cutbacks at Antamina in Peru, Garpenberg in Sweden, and Red Dog in the US.
Three-month London Metal Exchange (LME) zinc reached US$3,875 per ton on October 29, supported by tight concentrate supply and high European energy costs.
Global refined zinc demand is expected to increase 1.4% to 14.02 million tons in 2026, while supply rises only 0.9% to 13.93 million tons. Global zinc mine output is forecast to fall 2.6% to 12.40 million tons due to cutbacks at Antamina in Peru, Garpenberg in Sweden, and Red Dog in the US.
Three-month London Metal Exchange (LME) zinc reached US$3,875 per ton on October 29, supported by tight concentrate supply and high European energy costs.
Zinc Ingot 99.995%min IW Tianjin
Unit:RMB/mt
China's refined zinc producers' sales to production ratio statistics by province by month
Unit: %
