ILZG, the international lead and zinc study group, has reported about the market for lead and zinc, two important battery raw materials, for the first half of 2025.
The demand for lead shows a weak decline, while the demand for zinc shows a slight upturn. Both markets indicate a surplus in the supply balance.
Global lead mine production rose by 0.9% during the first half of 2025. This was primarily a consequence of increases in Bosnia and Herzegovina, China, India and Peru, partially balanced by reductions in Brazil, Kazakhstan and the United States.
Higher output from smelters in Canada, China, India, Mexico and Sweden resulted in a 1.6% rise in lead metal production. The production was reduced month by month during 2025 but the overall volume increased compared to 2024.
Refined lead metal usage grew by 2.3%, mainly a result of rises in the Philippines, Taiwan (China), the United States and Vietnam. Demand in Europe also rose, influenced by increases in the Czech Republic, France and Germany. However, Italycontinued downwards. Chinese imports of lead contained in lead concentrates grew by 34% to 381kt. The global supply, 6,570,000 tons, exceeded the demand by 21kt.
The world zinc mine production rose by 6.3%. Despite reductions in Brazil and the United States, substantial production increases were reported from Australia, China, Mexico, Peru, South Africa and the Democratic Republic of Congo.
Refined metal production fell by 2.1%, mainly the result of declines in Brazil, Kazakhstan and Japan. Increases in the usage of refined zinc metal in China, India and Europe were partially offset by reductions in Brazil and the United States, resulting in an overall global rise of 0.9%. The production volume was 6,644,000 tons and the demand 6,597,000 tons, resulting in a surplus by 47kt.
