The world's supply of zinc will grow strongly over the next few years, alleviating the rising zinc price. While 2020 saw refined zinc metal in surplus, that surplus will shrink significantly in 2021 and head into deficit in 2022 as base metals boom and green energy's ravenous hunger for minerals takes hold. Several new smelters are expected to come online in 2022-2025, and miners are right behind them to take advantage of their hungry furnaces. The growth of zinc concentrate production with upcoming facilities like Gamsberg, Huoshaoyun, and Aripuana will see the supply come back into balance in 2025. Supply will need to continue growing to keep up with the global shift to green energy.
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