According the latest report by the International Lead and Zinc Study Group, Zinc reaches 47,000 tonne surplus in the first two months of the year and consumption looks to have fallen in both Europe by 5.3% and the US by 7.1% while remaining flat in Japan.

ILZSG said that demand growth overall, however, remained relatively flat on a year on year basis, rising just 0.3% to 1.839 million tonnes backed by strong growth in China up by 6.3%, which accounts for roughly a third of total global demand.