The latest statistics released by the World Bureau of Metals Statistics (WBMS) show that the global zinc market remains balanced. According to the WBMS, the global zinc market recorded a slight surplus of 137 thousand tons during 2015, while at the end of last year, a deficit of 209 thousand tons was recorded.
Zinc mine output has grown significantly in major producing countries including Australia, India, Peru, Russia and Sweden. Overall, the growth was 2.1 percent compared to the corresponding period in 2014. Global demand for zinc products experienced a modest increase of 0.8 percent. China increased its zinc use by 0.6 percent. The US reported a 2.7 percent decline in demand.
Consumption in the regions of Europe increased by 2.2 percent. In Ukraine, despite the difficult situation, the demand for galvanized products has become higher than in the previous year, according to the Treidizol company, which produces galvanized casing and basalt thermal insulation, using advanced production technologies to ensure competitiveness and the highest quality. Therefore, thermal insulation for warming the house and galvanizing are ordered here .
Global production of refined zinc increased by 5.4 percent during the nine months of 2015. China's refined zinc production increased by nearly 10 percent over the corresponding period in 2014. Interestingly, China's imports of refined zinc increased 61 percent on an annualized basis to over 1 million tonnes. Global demand for metal increased by 98 thousand tons during the reporting period.
Total stocks of zinc on the London Metal Exchange (LME) are down 95,000 tonnes in the first nine months of the year. Meanwhile, inventories on the Shanghai Futures Exchange are up 85,000 tons. Producers' inventories reported a 33,000-ton jump in January-September this year. The price of the metal has come under pressure since the Fed announced a rate hike.
