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Here is a selection of the latest news:
12/19/2025
According to OPEC in its December monthly report, crude oil demand in the main countries was estimated for 2026 as follows (million barrels/day - annual performance)
USA = 20.91 in 2024 (+0.11%);
Latin America = 7.00 in 2024 (+0.13%);
Europe = 13.50 in 2024 (+0.04%);
Russia = 4.08 in 2024 (+0.04%);
Middle East = 9.10 in 2024 (+0.16%);
China = 17.06 in 2024 (+0.20%);
India = 5.88 in 2024 (+0.22%).
12/19/2025
According to OPEC in its December monthly report, crude oil demand in the main countries was estimated for 2025 as follows (million barrels/day - annual performance)
USA = 20.80 in 2025 (+0.23%);
Latin America = 6.88 in 2025 (+0.13%);
Europe = 13.46 in 2025 (-0.02%);
Russia = 4.04 in 2025 (+0.06%);
Middle East = 8.94 in 2025 (+0.08%);
China = 16.87 in 2025 (+0.21%);
India = 5.66 in 2025 (+0.10%).
12/19/2025
Below is a table summary of International Lead and Zinc Study Group (ILZSG), indicating the world refined zinc supply and usage are (.000 tons):
OCTOBER 2025 =
Mine production 1,100.9 (increasing MoM) ;
Refined production 1,218.7 (increasing MoM);
Metal usage 1,219.3 (increasing MoM) .
JAN- OCTOBER 2025 =
Mine production 10,513 (increasing YoY) ;
Refined production 11,515 (increasing YoY);
Metal usage 11,439 (increasing YoY) .
12/19/2025
Follows a table summary of International Lead and Zinc Study Group (ILZSG) with world refined lead supply and use (.000 tons):
OCTOBER 2025 =
Mine production 403.0 (increasing MoM) ;
Refined production 1,101.3 (increasing MoM ) ;
Metal usage 1,115.7 (increasing MoM) .
JAN- OCTOBER 2025 =
Mine production 3,737 (increasing YoY) ;
Refined production 10,953 (increasing YoY);
Metal usage 10,933 (increasing YoY) .
12/19/2025
In the summary below, the current margins of the main metals (Copper, Tin and Zinc are up from the previous communication, Primary Aluminium, Nickel and Lead are down)
COPPER (25 tonnes per lot) = $757/tonne - $18,925/lot ;
ALUMINIUM HG (25 tonnes per lot)= $161/tonne - $4,025/lot ;
ALUMINIUM ALLOY (20 tonnes per batch)= 315 $/tonne - 6,300 $/lot ;
NICKEL (6 tonnes per lot) = $1,539/tonne - $9,234/lot ;
LEAD (25 tonnes per lot)= $127/tonne - $3,175/lot ;
TIN (5 tonnes per lot)= $4,396/tonne - $21,980/lot ;
ZINC (25 tonnes per lot)= $283/tonne - $7,075/lot .
12/19/2025
Global oil demand growth for 2025 is forecast at 1.3 mb/d, YoY, unchanged from last month’s assessment.
Minor adjustments were made to data for the first three quarters of the year, due to actual data received.
However, the adjustments cancelled each other out, resulting in no change for the whole year. Accordingly,
OECD oil demand is forecast to grow by about 0.1 mb/d, YoY, mostly in OECD Americas. In the
non-OECD, oil demand is forecast to grow by about 1.2 mb/d, YoY, driven largely by Other Asia and China,
with India and all other regions also showing healthy growth.
The forecast for global oil demand growth in 2026 also remains at a healthy 1.4 mb/d, YoY, unchanged
from last month’s assessment. The OECD is expected to grow by about 0.2 mb/d, YoY, with OECD
Americas again expected to lead oil demand growth in the region. In the non-OECD, oil demand is forecast
to grow by about 1.2 mb/d, led by Other Asia, followed by India and China.
