What awaits the world zinc market in the near future
Analyst firm GlobalData has shared the latest data and forecasts. So last year was challenging for the global zinc market. The huge shortage of concentrate. It amounted to 1.1 million tons. The production volume rose slightly — up to 13.4 million tons. Growth amounted to 1.5%. The consumption of zinc in concentrate reached 14.5 million tons. Moreover, its growth was recorded in the US, EU and China. However, in the coming years the situation will change, experts say. The reason for this will be the launch of new production capacities.
To date, there are 24 projects of construction of new zinc mines. Each of them is at a certain stage of realization. There are also projects to expand the productivity of existing enterprises. They are also already being implemented. About 70−75 new projects as yet only planned. Roughly their completion will occur by 2022. For the most part develops zinc mining in Australia. There are recorded while the highest rates. Production last year increased by 9.9%. This is explained by the fact that earned two new mine. In addition, he was commissioned first one. In terms of the implementation of 15 projects.
Experts say that the production of zinc will grow up in several countries. We are talking about Peru, Canada, USA and Mexico. As for Russia and Kazakhstan, they have four projects. Their implementation needs to be completed by 2022. In China it is also planned to Commission new capacities. However, last year the production of zinc in concentrate decreased. The index decreased by 1%. This is due to the closure of many businesses. The environmental program in the country is still being implemented.