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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn -- Ignore unavailable to you. Want to Upgrade?

To: zinc-man who wrote (473)	4/17/2003 12:21:18 PM
From: Stephen O	Read Replies (1) \| Respond to of 3270

(MB) - Zinc demand predicted to rise in 2003 2003-04-16 17:02 (New York) April 16 (Metal Bulletin) -Zinc usage is anticipated to increase in 2003, the International Lead & Zinc Study Group (ILZSG) has said following its spring forecast meeting. The group also predicts that zinc supply will outstrip demand again this year, although to a smaller extent than in 2002. "Regarding the Western world market balance, the group anticipates that the supply of refined zinc metal will again exceed demand in 2003. However, mainly as a consequence of recent supply-side reductions, the size of the predicted surplus has been significantly reduced from 411,000 tonnes to just over 100,000 tonnes," ILZSG said. Growth of 5.7% in use in Asia is seen as the primary factor in the anticipated 3.9% growth in global refined zinc usage. The USA is expected to see growth of 2.6% over 2002 while European growth will climb by 2%, according to the group's outlook. ILZSG forecasts a 3.9% rise in global zinc mine output, but also predicts a 2.9% drop in refined zinc metal output in Europe, due mainly to the closures of MIM Holdings' Avonmouth operations and Metaleurop's Noyelles Godault plant. However, global output is set to increase by 1.9% after anticipated growth in Australia, India, Iran, Kazakhstan, Korea and Namibia. Chinese net exports of refined metal to the West are expected to be smaller than those seen last year "as a result of both a decrease in shipments from China and a continued increase in the level of imports", ILZSG said. However, China is expected to continue importing large amounts of zinc contained in concentrates. Concs imports from the West are expected to reach 250,000 tonnes for a second consecutive year, according to the group. Metal Bulletin newsroom, London Tel +44 207 827 9977 Fax +44 207 928 6892 New York Tel +1 212 213 6202 Fax +1 212 213 6273 -0- (BN ) Apr/16/2003 21:02 GMT