Jan. to Sept. 2014: Refined lead stock level and refined zinc inventories declined

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Zinkerz (Foto: Initiative Zink)

Lisbon, Portugal — According to the International Lead and Zinc Study Group (ILZSG), provisional data reported to the ILZSG indicate that world supply of refined lead metal exceeded demand by a marginal 12kt during the first three quarters of 2014. Over the same period, despite a rise in LME inventories of 11kt, total reported stock levels declined by 24kt. The global market for refined zinc metal was in deficit by 309kt over the nine months from January to September 2014 with total reported inventories declining by 208kt over the same period.

The data on lead show:

  • A 5 percent reduction in global lead mine production was mainly a consequence of lower output in China. Elsewhere rises in Australia, Mexico, Peru and the United States were balanced by falls in Bolivia and Canada.
  • Higher refined lead metal output in Australia, China, India, Italy, the Republic of Korea was partially balanced by reductions in Japan, Peru and the United States resulting in an overall global increase of 1.8 percent.
  • A rise in world demand for refined lead metal of 1.2 percent was primarily influenced by increases in Europe of 4.4 percent and China of 1.5 percent. Usage in the United States declined by 0.5 percent.
  • Chinese imports of lead contained in lead concentrates rose by 25.7 percent to total 713kt.

The data on zinc show:

  • A rise in global zinc mine output of 1.9 percent was primarily driven by increases in Burkina Faso, China, Mexico, the Russian Federation, Sweden and the United States that more than offset falls in Australia, Canada, India, Ireland and Kazakhstan.
  • A reported 12.4 percent increase in China was the main influence on a rise in global production of refined zinc metal of 4.2 percent. Elsewhere production increased in Belgium, France, Italy and Norway and declined in Canada, Brazil, India and the United States.
  • Rises in apparent demand of 9.2 percent in the United States and 13.8 percent in China were the main drivers behind an increase in global zinc metal usage of 7.4 percent. Demand in Europe rose by a more modest 0.7 percent.
  • Chinese net imports of refined zinc metal increased by 8.7 percent to 448kt.

Full details are available in the November 2014 edition of the Group’s 77 page ‘Lead and Zinc Statistics’ Bulletin. 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 at ilzsg.org.

Source: International Lead and Zinc Study Group (ILZSG)