Feb 12 (Reuters) - Goldman Sachs expects the global zinc market to be in a small surplus this year, driven by growing mine supply and concentrate destocking while demand remains steady, it said on Thursday.

However, the investment bank said in a note that it expects the mine supply growth to slow markedly in 2027 and 2028, moving the market outside China into deficit.

Goldman forecasts continued zinc supply growth in China as the country, historically a net importer, looks to meet domestic demand using only Chinese capacity from 2026 onward.

The bank said it does not expect sustained Chinese zinc exports to be necessary to balance the global market yet, but noted that China will play an increasingly important role in covering periods of temporary tightness, with the export arbitrage likely to open more frequently in the coming years.

Global zinc demand is projected to grow by about 2% year on year in both 2026 and 2027, Goldman said.

(Reporting by Noel John in BengaluruEditing by David Goodman)

((Noel.John@thomsonreuters.com;))