POZ down >3% but LME stocks down to record low???Zinc to see...

  1. 336 Posts.
    POZ down >3% but LME stocks down to record low???

    Zinc to see deficit in 2007, 250,000 mt surplus in 2008: ILZSG

    London (Platts)--8Oct2007
    The world market for refined zinc metal is expected to show a supply deficit of 47,000 mt this year, but in 2008 increased supply is expected to
    result in a surplus of "just under a quarter of a million tonnes," the International Lead & Zinc Study Group said Monday. Anticipated increases in global demand for refined zinc metal of 3.0% to 11.38 million mt in 2007 and 5.1% to 11.96 million mt in 2008 will be due
    principally to expected further robust growth in China of 8.8% in 2007 and 12.1% in 2008, the ILZSG said.
    Elsewhere in Asia it is anticipated that Indian demand will continue to rise steadily, but in a number of other countries, in particular in South East Asia, growth is predicted to be limited, it said.
    In the US, a decline of 1.9% is predicted in 2007 with demand remaining stable in 2008, while European usage is forecast to rise by 2.5% in 2007 and 1.4% in 2008, primarily as a consequence of increases in Belgium and Italy.
    Global refined zinc metal production is expected to increase by 5.9% to 11.32 million mt in 2007 and by 7.8% to 12.2 million mt in 2008, the ILZSG
    said.
    The largest rises will be in China and India, where Hindustan Zinc's second 170,000 mt/year capacity plant at Chanderiya is due to open at the end
    of 2007, it said, adding that an increase in Europe would be mainly influenced by rises in Belgium, Finland, France, Poland, the Russian Federation and
    Spain.
    Production is also expected to be higher in Australia, Kazakhstan, the Republic of Korea, Mexico, Thailand and the US.
    The latest data published by the Chinese customs authorities indicates that Chinese net imports of zinc contained in zinc concentrates and net exports of refined zinc metal will rise sharply in 2007, the ILZSG said, adding: "In 2008, a further increase in imports of concentrates is predicted; however net exports of refined metal are expected to remain at a similar level
    to 2008 due to increased domestic demand."
    Global zinc mine output is forecast to increase by 7.4% to 11.18 million mt in 2007 and by 9.5% to 12.24 million mt in 2008.
    The recently opened San Cristobal mine will substantially boost production in Bolivia, while Australian and Canadian output is also predicted
    to rise sharply, influenced by the commissioning of a number of mines in both 2007 and 2008, the ILZSG said.
    Anticipated rises in Peru will be principally the result of increases at the Antamina mine and the opening of Minera Milpo's Cerro Lindo operation, it said. Zinc mine production is also forecast to rise in a number of other
    countries including China, Brazil, India, Ireland, Kazakhstan, Mexico, Portugal and the U



 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.