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Global zinc market's deficit down in April: ILZSG
[LONDON] The global zinc market saw a deficit of 2,500 tonnes in April after a 20,400 shortfall in March, data from the International Lead and Zinc Study Group (ILZSG) showed on Wednesday.
The market saw a surplus of 24,000 tonnes in the first four months of the year down from a surplus of 185,000 tonnes in the same period last year.
China's mine output of zinc content rose five percent to 456,000 tonnes in April. Analysts say higher zinc prices are behind rising output in China.
Benchmark zinc on the London Metal Exchange at around US$2,050 a tonne is up about 27 per cent so far this year due to worries about shortages.