The global market for refined zinc is expected to be in deficit by 117,000 tonnes this year and refined lead in deficit by 49,000 tonnes, the International Lead and Zinc Study Group (ILZSG) said on Thursday.
Zinc demand is expected to rise 4.5 percent to 13.58 million tonnes this year while refined supply increases 4.4 percent to 13.46 million tonnes, the group said in a statement following its spring meetings.
"Having remained relatively stable for the past four years, Chinese production of refined zinc metal is expected to rise by 7.3 percent in 2014 and this is the main factor behind an anticipated overall increase in global production," it said.
In lead, demand is expected to rise 4.4 percent to 11.73 million tonnes and refined supply to by 4.3 percent to 11.68 million tonnes.
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