ILZSG: Refined lead metal exceeded demand, refined zinc metal market in deficit

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Bleigewichte (Foto: ©Harry256 / http://www.pixelio.de)

Lisbon, Portugal — The International Lead and Zinc Study Group (ILZSG) has released preliminary data for world lead and zinc supply and demand during the first ten months of 2014. The data indicate that world supply of refined lead metal exceeded demand by 15kt and – despite a rise in LME inventories of 13kt – total reported stock levels declined by 27kt during the first ten months of 2014. The global market for refined zinc metal was in deficit by 277kt over the ten months from January to October 2014 with total reported inventories declining by 273kt over the same period.

Other 2014 key figures on lead show:

  • Falls in lead mine production in Bolivia, Canada and China were partially offset by increases in Australia, Peru and the United States resulting in an overall global reduction of 2.5 percent compared to the first ten months of 2013.
  • World refined lead metal production increased by 1.8 percent. This was mainly a consequence of higher output China, India, Italy, Kazakhstan and the Republic of Korea that more than balanced reductions in Peru and the United States.
  • Demand for refined lead metal rose by 3 percent in Europe, 1.9 percent in China and 5.6 percent in India but declined by 1.1 percent in the United States. Overall global usage rose by 1.3 percent.
  • Chinese imports of lead contained in lead concentrates increased by 19.3 percent to total 809kt.

2014 key figures on zinc indicate:

  • Despite falls in production in a number of countries including Australia, Canada, India, Ireland, Kazakhstan and Namibia, global zinc mine output increased by 1.9 percent compared to the first ten months of 2013. This was mainly due to a further reported rise in Chinese output of 7.1 percent.
  • Similarly the main influence on a rise in global refined zinc metal output of 3.8 percent was a sharp 12.1 percent increase in Chinese production.
  • Global demand for refined zinc metal increased by 5.9 percent primarily driven by an 11.6 percent rise in Chinese apparent usage. Demand in the United States rose by 2.8 percent and in the Republic of Korea by 9.4 percent. However, in Europe usage was 0.8 percent lower.
  • Chinese net exports of refined zinc metal totalled 447kt, a fall of 8 percent compared to the same period of 2013.

Further details about the International Lead and Zinc Study Group (ILZSG) together with a full list of publications are available on the Group’s website.

Source: International Lead and Zinc Study Group (ILZSG)