The global zinc market is forecast to have a deficit of 403,000 tonnes in 2014, dipping to 366,000 tonnes next year, the International Lead and Zinc Study Group (ILZSG) said on Monday.
The group also said, following its annual meeting, that the global lead market is forecast to be in a deficit of 38,000 tonnes this year and 23,000 tonnes in 2015.
In zinc, global demand for refined metal is expected to rise by 5.1 percent to 13.65 million tonnes this year and a further 2.9 percent to 14.05 million tonnes in 2015, the ILZSG said.
"These rises will be primarily driven by increased Chinese usage," it said in a statement.
Refined zinc metal output is forecast to rise by 2.9 percent to 13.25 million tonnes in 2014 and by 3.3 percent to 13.68 million tonnes in 2015 mainly due to further expansion of output in China, it added.
In lead, global demand for refined lead metal is forecast to increase by 1.4 percent to 11.33 million tonnes this year and by
2.1 percent to 11.56 million tonnes in 2015, the group said.
Growth in Chinese lead demand is due to slow this year.
"This is mainly due to a slowing of the increase of output of e-bikes that account for a significant portion of Chinese automotive lead-acid battery sales," it said.
World production of refined lead metal is forecast to edge up by 1.5 percent to 11.29 million tonnes in 2014 and rise by 2.2 percent to 11.54 million tonnes in 2015.