Goldman Sachs said it is expected that there will be a slight surplus in the global zinc market this year, mainly driven by increased mine supply and concentrate inventory removal, while demand remains stable. However, the investment bank pointed out that it is expected that the growth rate of mine supply will slow significantly in 2027 and 2028, at which time markets outside of China will become scarce.

Goldman Sachs said it is expected that there will be a slight surplus in the global zinc market this year, mainly driven by increased mine supply and concentrate inventory removal, while demand remains stable. However, the investment bank pointed out that it is expected that the growth rate of mine supply will slow significantly in 2027 and 2028, at which time markets outside of China will become scarce.