Insight: 2016 ex-China zinc mine output

摘要

We project that zinc-in-concentrate production outside China in 2015 will increase by 1.9% (or154,000 tonnes) to 8,335,000t. This is based on reported data for the first half of the year, coupledwith our estimate for the second half of the year net of a disruption allowance of 2%.The outlook for 2016 is dominated by losses. The forthcoming exhaustions of reserves at Centuryand Lisheen are well known and have been anticipated for a long time. However, it is important torecognise that these are not the only likely losses, and nor is the year devoid of gains. Moreover,given the current price environment, one must be mindful of the potential for price-induced losses.