ICICI Securities Ltd | Retail Equity Research According to preliminary data recently compiled by ILZSG, the global market for refined zinc metal was in deficit by 6 KT over the first quarter of 2017 (against the surplus of 3 KT in Q1CY16) with total reported inventories declining by 18 KT over the same period. Refined zinc metal production during the quarter was at 3406 KT against metal usage of 3412 KT, implying the aforementioned deficit. In April 2017, the ILZSG forecast for CY17 suggests the deficit in refined zinc metal market is likely to...