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Excess world output to hit zinc next year
REUTERS
London, Nov 4: The western world zinc market will be in rough balance in 2000 due to increased production and slowing demand growth in the US, a UK-based research company, Brook Hunt, said its latest weekly report. Western refined metal output will increase because of abundant supplies of concentrates, and net imports from China and the former Soviet Union will remain high, the report said.``We are forecasting that western refined metal production this year will rise by a modest 1.8 per cent before recording a substantial 6.7 per cent increase next year, when it will reach 6.212 million tonnes,'' the report said. Brook Hunt forecast that Chinese zinc exports will be 4,60,000 tonnes this year, but stressed that a surge in the last two months of the year is unlikely. Recovery in Asia and growth in European and North American consumption would push western world demand for zinc in 1999 up by 3.7 per cent to 6.774 million tonnes leaving the market 126,000 tonnes in deficit, the report said. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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