Lead & Zinc

Peru’s Zinc Chain: A Stronger Role for Zinc Concentrate

Zinc Concentrate played a stronger and more consistent role in Peru’s Zinc export chain than in Australia’s, leading in more quarters and averaging a significantly higher share (67.7% vs. 53.7%). Despite two shifts in relative position, its dominance in Peru remained clear over the period.

Between 2022-Q3 and 2025-Q2, the total Zinc export value of Peru and Australia followed a very similar path. Both experienced a slight downward trend with low volatility in the initial and early middle periods, followed by a slight upward trend with low volatility in the later periods. Overall volatility for both countries was limited. Peru’s final-quarter figure was unexpected, while Australia’s was not. Over the full period, Peru grew at a compound rate of 0.5%, reaching about USD 817,000 in 2025-Q2, while Australia grew at 0.9%, reaching nearly USD 801,000. The two series show a moderate correlation and generally moved in the same direction. In 2025-Q2, Peru and Australia recorded year-on-year growth rates of 32.0% and 25.8%, respectively.

February 21, 2026 Lead & Zinc

Peru’s Metals Export: Copper on Top

Copper Concentrate has clearly led Peru’s upstream metals exports, consistently outperforming Zinc Concentrate with an 87.6% share versus zinc’s 68.6%, showing its dominant and steady role over the analyzed period.

From 2022-Q2 to 2025-Q1, Peru’s Upstream Copper Industry exports grew steadily, reaching about 6.61 million USD in 2025-Q1, while Upstream Zinc Industry exports rose more modestly to around 635,000 USD. Copper exports hit their lowest at 4.79 million USD and highest at 6.61 million USD, showing minor ups and downs across the period. Zinc exports fluctuated between 548,000 USD and 787,000 USD, starting with slight decreases and finishing with modest rises. The overall growth rate was 3.0% for copper but -1.9% for zinc. Correlation between the two was weak and inverse, with both showing limited volatility. Copper consistently outperformed zinc, highlighting a clear gap in export performance.

December 24, 2025 Copper, Lead & Zinc

Similar per capita consumption trend of refined zinc, lead, and copper

Refined zinc, lead, and copper per capita consumption survey

Generally, the per capita consumption trend of refined zinc, lead, and copper has been increasing in 2002-22. The refined lead and zinc per capita consumption decreased by 1.1% and 5.3% respectively in 2009 due to the 2008 financial crisis beginning.

Refined copper per capita consumption faced a 0.9% drop in 2009. Although, zinc consumption decreased in the USA in view of the financial crisis, the increase in China’s consumption compensated for this drop. Also, the per capita consumption of copper decreased along with the higher growth of population than copper consumption growth. Because of the EU Debt Crisis, lead and zinc per capita consumption decreased, but copper per capita consumption was not affected vastly by it due to the fact that the largest copper producers and consumers are in America and Asia.

June 8, 2023 Copper, Lead & Zinc

Keeping production levels despite environmental restrictions

China's lead production in q2 2022

The analysis of China’s lead ingot production statistics in q2 2022 indicates a relatively significant growth in production y/y. Although the review of cumulative production statistics until the end of H1 2022, shows not significant difference in the production volume during the H1 of 2022 and 2021.

With the Covid-19 outbreak in March 2022, the increase in demand has occurred due to the lack of supplying goods following the consequences of the pandemic, and this caused the inventory to decrease by 4% in March, reached 4.4kt. Therefore, the production growth in May 2022 compared to 2021 was aimed at compensating the inventory drop in and meeting demand.

September 2, 2022 Lead & Zinc

Global lead production returns to pre-Covid-19 levels, with China’s production growth

Investigating lead mining and recycling production

Global lead production will increase by around 2% y/y in 2021, which is the result of production growth in China and India. Global production of mineral lead is estimated to increase by 2.9% to 4.71Mt in 2022, with the participation of China, India, and Kazakhstan.

China, Australia, and the US accounted for the highest volume of lead mineral production in 2021, with about 2Mt, 500kt, and 300kt, respectively. Global lead production is increasing with higher demand for lead-acid batteries from the automotive and electric bicycle sectors, especially from China and the US.

April 5, 2022 Lead & Zinc

FOX Currency Switcher

Peru’s Zinc Chain: A Stronger Role for Zinc Concentrate

Peru’s Metals Export: Copper on Top

Similar per capita consumption trend of refined zinc, lead, and copper

Keeping production levels despite environmental restrictions

Global lead production returns to pre-Covid-19 levels, with China’s production growth

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