Core Insights - The International Lead and Zinc Study Group (ILZSG) reported a global zinc market surplus of 72,000 tons for the period of January to July 2025, a decrease from a surplus of 185,000 tons in the same period of 2024 [1] Summary by Category Production and Consumption - Global refined zinc production for January to July 2025 is recorded at 7,915,000 tons, slightly up from 7,864,000 tons in the same period of 2024 [1] - Global refined zinc consumption for January to July 2025 reached 7,843,000 tons, an increase from 7,679,000 tons in the same period of 2024 [1] Supply-Demand Balance - The supply-demand balance for global refined zinc shows a surplus of 72,000 tons for January to July 2025, compared to a surplus of 185,000 tons in the same period of 2024 [1] - The overall supply-demand balance for the year 2024 was a deficit of 156,000 tons, while in 2023, there was a surplus of 284,000 tons [1]