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Informist, Monday, Dec. 22, 2025

MUMBAI – The global refined lead market was in a surplus of 20,000 tonnes in the first 10 months of 2025 and the global refined zinc market was in a surplus of 76,000 tonnes, the International Lead and Zinc Study Group said in a report.

Global refined lead production rose to 10.95 million tonnes during the first 10 months of 2025, up nearly 2% from 10.77 million tonnes it recorded last year, the group said. The rise in global lead metal production was mainly due to higher output in Canada, China, India, South Korea, Mexico, Sweden, and Brazil. However, these increases were partially offset by reductions in Japan, Kazakhstan, and the UK, the group said.    

Global lead mine production rose marginally to 3.74 million tonnes during the first ten months of the year, the group said. The rise in lead mine production in China, India, Peru, Turkey, and Europe was largely offset by reductions in Australia, Kazakhstan, and the US.

Global refined lead metal demand rose to 10.93 million tonnes during Jan-Oct, up 1.5% from 10.77 million tonnes it recorded last year. This rise was mainly due to Brazil, Taiwan, the US, and Vietnam. "Demand in Europe also rose, influenced by increases in France, Germany, Poland and the United Kingdom that were partially offset by declines in Italy and Spain. In India and Mexico, however, usage was lower than during the same period of 2024," the group said. Chinese imports of lead contained in lead concentrates rose by 8.5% to 981,000 tonnes. Net imports of refined lead metal totalled 24,000 tonnes, down from 95,000 tonnes it recorded in the first 10 months of 2024.   

Global refined zinc production rose to 11.52 million tonnes in Jan-Oct, up nearly 3% from 11.19 million tonnes it recorded last year, the group said. The rise in production was due to significant growth in Chinese output. Global production of the metal excluding China fell by 2.2% in Jan-Oct mainly due to a fall in production in Brazil, Kazakhstan, Mexico, and Japan in the wake of the closure of Toho Zinc's Anakka operation. Production in South Korea fell mainly due to the temporary suspension of operations at the Seokpo smelter.    

Zinc mine production rose to 10.51 million tonnes in Jan-Oct, up nearly 7% from 9.87 million tonnes it recorded last year, the group said. The rise in production was due to Australia, China, Iran, Mexico, Peru, South Africa, and the Democratic Republic of Congo, where the new Kipushi mine was commissioned in June 2024. "Output in Europe also rose, benefiting from higher production at the Vares operation in Bosnia and Herzegovina, the commissioning of the Ozernoye mine in the Russian Federation in September 2024 and the resumption of operations at the Tara mine in Ireland in October 2024," the group said.    

The refined zinc metal usage rose to 11.44 million tonnes during the first 10 months of the year, up over 2% from 11.19 million tonnes it recorded last year. Chinese imports of zinc contained in zinc concentrates rose by 36.3% to 2.1 million tonnes. Net imports of refined zinc metal totalled 253,000 tonnes, a decrease of 113,000 tonnes compared with the first 10 months of 2024, the group said.  End

Reported by Reshma Ravi

Edited by Akul Nishant Akhoury

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