Based on the latest data from the US Geological Survey (USGS) and the International Lead and Zinc Study Group (ILZSG), the analytical center “Experts Club” has presented an updated ranking of the world’s twenty largest zinc producers for 2024.
Top 20 countries by zinc production in 2024
Rank Country Production volume (tons)
1 China 4,000,000
2 Peru 1,300,000
3 Australia 1,100,000
4 India 860,000
5 United States 750,000
6 Mexico 700,000
7 Bolivia 510,000
8 Kazakhstan 370,000
9 Russia 310,000
10 Sweden 240,000
11 South Africa 120,000
12 Canada 110,000
13 Brazil 100,000
14 Iran 90,000
15 Portugal 80,000
16 Ireland 70,000
17 Namibia 60,000
18 Finland 50,000
19 Turkey 40,000
20 Spain 30,000
Current trends and challenges
The global zinc market faces a number of challenges:
Source: https://expertsclub.eu/top-20-stran-po-dob%d1%8bche-czynka-v-2024-godu/
Global lead and zinc production will exceed demand in 2025, according to the International Lead and Zinc Study Group (ILZSG).
Refined lead production is expected to increase by 1.9% to 13.27 million tons this year. This will mainly be driven by increased production in China, India, Mexico and the US, while Europe and South Korea are expected to reduce output.
Global lead consumption may increase by 1.5% to reach 13.19 million tons. Growth is expected, in particular, in Brazil, India and Japan, and a decline in South Korea.
In the US, demand for metal fell by 8.3% last year, but is expected to rise by 4.3% in 2025. In Europe, due to the decline in car production in 2024, lead consumption decreased by 4.4%, and is expected to increase by 1.8% this year. Consumption in China is expected to grow by 0.9% in 2025 after a 1.3% decline last year.
Thus, in 2025, the global market will have a surplus of lead in the amount of about 82 thousand tons, ILZSG said in a statement.
Refined zinc production in the world this year is expected to increase by 1.8% to 13.73 million tons.
Production in China will increase by 3.8% (after falling by 3.4% in 2024). Output is also expected to grow in Norway, where Boliden has recently completed the expansion of its Odda plant’s production capacity by 150 thousand tons per year. Meanwhile, zinc production is expected to decline in Italy and Japan due to the closure of Glencore and Toho Zinc’s facilities in these countries, as well as in South Korea.
Consumption of the metal may grow by 1% this year to reach 13.64 million tons. In particular, demand in China is expected to increase by 0.9% (after a 1.9% decline last year). Experts also expect consumption to rise in Brazil, India and Turkey, as well as decline in South Korea.
“Any deterioration in the global economic outlook due to uncertainty over trade policy is likely to have a negative impact on the outlook for zinc demand,” the report says.
The global zinc surplus in 2025 is projected at 93 thousand tons.
The ILZSG, established by the United Nations in 1959, provides information on supply and demand for zinc and lead and conducts research on the situation on the world markets for these metals. The Group’s members are Australia, Belgium, Brazil, Bulgaria, China, Finland, France, Germany, India, Ireland, Italy, Japan, South Korea, Mexico, Morocco, Namibia, Norway, Peru, Poland, Portugal, Russia, Serbia, Sweden, Turkey, the United States and the European Union. These countries account for more than 85% of the world’s lead and zinc production and consumption.
Imports of zinc and products in the first quarter of 2025 decreased by 17.8% to $9.75 million ($3.74 million in March).
Exports increased sixfold to $266 thousand ($89 thousand in March), while in 2024, the figure was $44 thousand for the same period.
At the end of 2024, imports amounted to $58.6 million (+27.5%), exports – $563 thousand (+4.3 times).
Pure zinc metal is used to restore precious metals, protect steel from corrosion and for other purposes.
In January 2025, Ukraine reduced imports of zinc and zinc products by 34.2% compared to the same period in 2024 to $2,695 million. In December 2024, imports amounted to $3,802 million. Zinc exports in January amounted to $137 thousand (in December – $100 thousand), while in January 2024 it was at the level of $8 thousand.
Pure zinc metal is used to reduce precious metals, protect steel from corrosion and for other purposes.
Ukraine increased its imports of zinc and zinc products by 27.5% to $58.610 million (in December – $3.802 million). Zinc exports increased to $563 thousand against $130 thousand in 2023, in December – $100 thousand.
Pure zinc metal is used to restore precious metals, protect steel from corrosion and for other purposes.
In January-October this year, Ukrainian companies increased imports of zinc and zinc products by 31.9% to $49.493 million (in October – $5.939 million).
Zinc exports for the first ten months of this year amounted to $419 thousand (in October – $142 thousand), while in January-October 2023 it amounted to $99 thousand.
At the same time, imports of zinc and zinc products increased by 18.8% to $45.966 million.
In 2023, zinc was exported by $130 thousand against $1.331 million in 2022.
Pure zinc metal is used to restore precious metals, protect steel from corrosion and for other purposes.
