Metallurgy in the world

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Metals (Global Market)

Main Article: Metals (Global Market)

Chronicle

2023

China and India lead in steel production

In the world, sales of pipeline valves increased by 1% - up to 10.86 million tons

In 2023, sales of pipeline valves in the world reached 10.86 million tons, which is 1% more compared to the result for 2022. The industry continues to show steady growth, according to the BusinesStat review, released on June 21, 2024.

Pipeline valves refer to various technical devices, fasteners and parts installed on pipelines, tanks and units designed to control the flows of liquid, gaseous, gas-liquid and powder working media. Statistics take into account the sale of such products as valves for oil and hydraulic and pneumatic transmissions, safety or unloading, return (non-return) and reducing valves, as well as products for pipelines, boilers, tanks, tanks, tanks or similar tanks.

Several factors contribute to the growth of demand in the market under consideration. This is, in particular, the development of irrigation systems. In addition, there is a high investment activity in the chemical and petrochemical industries, where pipeline valves are also in demand.

It is estimated that 9.9 million tons of these products were sold globally in 2019. A year later, sales climbed 1.3%, reaching 10.03 million tons. In 2021 and 2022, an increase was recorded at 4.7% and 2.4%, respectively - up to 10.5 million and 10.75 million tons. In general, for the period from 2019 to 2023, global sales of pipeline valves rose by 9.6%.

In 2023, 2.4 China million tons of pipeline valves became the largest consumer of products on a global scale: this corresponds to 22.1% of the global volume. In second place are USA with sales at 1 million tons and a share of about 9.7%. Closes the top three Germany with 0.5 million tons and 4.5%.^[1]

Reduction in tin production by 2.1% to 370.1 thousand tons

At the end of 2023, the production of refined tin on a global scale amounted to approximately 370.1 thousand tons. This is 2.1% less than the result for the previous year. The corresponding indicators are contained in the report of the International Tin Association (ITA), published on March 6, 2024.

It is said that in 2023, the ten largest companies accounted for approximately 59% of global tin production. Together, they increased output in relation to 2022 by 856 tons. The total metal production in mainland China on an annualized basis decreased by 1.3% - to 177 thousand tons. The report noted that secondary supplies globally rose 7.5% in 2023, recovering from a 6.6% decline during the previous year. The growth in the production of secondary refined tin was recorded in Europe and China.

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ITA

The ranking of the largest tin producers is headed by the Chinese Yunnan Tin Co. (YTC): output in 2023 amounted to 80.1 thousand tons, which is 3.9% more compared to the previous year, when 77.1 thousand tons were delivered. Minsur from Peru is in second place with 31.7 thousand tons against 32.7 thousand tons in 2022: a fall in annual terms - 3.1%. Yunnan Chengfeng from China closes the top three with 21.8 thousand tons and an increase of 5.8% compared to 2022 (20.6 thousand tons).

In 2023, Chinese manufacturers Yunnan Chengfeng and Guangxi China Tin, which ranked third and sixth, respectively, saw moderate production growth. European metal maker Aurubis Beerse also showed positive momentum, the report said.

The study notes that the difficult macroeconomic situation has a negative impact on the market. At the same time, an industry surplus of 9.7 thousand tons was formed.^[2]

Zinc and lead production growth

In 2023, the production of refined zinc on a global scale reached 13.863 million tons. This is approximately 3.8% more than in the previous year, when the figure was 13.353 million tons. At the same time, in 2021, production was estimated at 13.894 million tons. Such data are presented in the study of the International Lead and Zinc Study Group (ILZSG), the results of which are presented on February 21, 2024.

It is noted that the growth is primarily associated with an increase in output in China. In addition, a rise was recorded in Mexico and Australia. On the other hand, production declined slightly in Japan and Norway, as well as in Germany (due to the suspension of the Glencore metallurgical plant in Nordenham).

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ILZSG

Zinc consumption in 2023 increased by 1.7%, reaching 13.659 million tons against 13.426 million tons in 2022. Demand for this metal has increased in China and India, while demand in Europe, Japan, Turkey, the United States and Thailand has decreased.

In turn, the production of refined lead in 2023 reached 12.853 million tons: this is 2.8% more than in the previous year, when the value was 12.506 million tons. In 2021, as noted in the report, the output was 12.718 million tons. The increase in production was noted in Australia, China, Germany, India and the UAE, where new production facilities were put into operation. At the same time, the reduction was recorded in Bulgaria, Italy, Japan, South Korea, Russia, Kazakhstan and Britain.

Lead consumption, according to ILZSG statistics, rose by about 1% globally in 2023 - from 12.640 million to 12.761 million tons. Positive dynamics was recorded in Europe, India and China, while in South Korea, Turkey and the United States there was a drop.^[3]

2022: Global tin production growth by 0.3% to 380.4 kt

In 2022, tin production on a global scale increased by approximately 0.3% compared to 2021. This is stated in a study by the International Tin Association (ITA), the results of which were released in mid-February 2023.

During 2022, the production of refined tin in the world reached 380.4 thousand tons. For comparison: a year earlier, this figure was 379.4 thousand tons. It is noted that, despite the unfavorable macroeconomic conditions affecting demand, global supplies of tin in 2022 remained stable.

Tin production in 2022 reached 380.4 thousand tons

At the same time, it is said that the rate of increase/decrease in production volumes differed significantly between companies. The leader of the industry remains the Chinese Yunnan Tin, which in 2022 produced 77.1 thousand tons of tin - 6% less compared to 2021. In second place is Minsur from Peru with a production volume of 32.7 thousand tons, which is 2.8% more compared to 2021. The Chinese Yunnan Chengfeng closes the top three, which on an annualized basis increased its output by 21.2% - to 20.6 thousand tons.

Overall, ten of the industry's leading players produced 56% of the world's total tin in 2022, compared with 59% in 2021, the ITA study said. The decrease in this indicator is partly due to the negative dynamics of the Indonesian company PT Timah, whose output fell by 25.3% - to 19.8 thousand tons (fourth place in the ranking). In addition, EM Vinto (Bolivia), Thaisarco (Thailand) and Aurubis Beerse (Belgium) demonstrated a significant decrease in metal production. The decline of these companies was partly offset by the positive dynamics of other leading suppliers - Malaysia Smelting (Malaysia) and Guangxi China Tin (China). It is reported that in general, Chinese metallurgical plants retained total production in 2022, despite problems.^[4]

Notes