Lisbon, Portugal — According to preliminary data by International Lead and Zinc Study Group (ILZSG), world refined lead metal demand exceeded supply by 86kt and total reported stock levels decreased by 18kt during the first half of 2017. The global market for refined zinc metal was in deficit by 203kt over the first six months of 2017 with total reported inventories declining by 212kt over the same period.
Further figures on the lead metal market indicate an 11.7 percent rise in global lead mine production compared to the first half of 2016 that was primarily due to higher output in China, India and Kazakhstan that more than offset a reduction in Australia. Increases in China, India, the Republic of Korea and the United States were the main influences on a rise in world refined lead metal production of 7.8 percent. A 10 percent increase in global lead demand for refined lead metal was principally a consequence of sharp rises in apparent demand in China and the United States of 13.3 percent and 22.8 percent respectively. Usage in Europe rose by a more modest 2 percent. Imports to China of lead contained in lead concentrates fell by 6.1 percent to 341kt. Chinese net imports of refined lead metal totalled 52kt compared to net exports of 12kt during the first half of 2016.
Regarding the zinc metal market, world zinc mine production rose by 5.4 percent compared to the first half of 2016. This was primarily a consequence of increased output in Eritrea, India and Peru. Increases in refined zinc metal production in Brazil, France and India were largely balanced by reductions in Canada, the Republic of Korea, Peru and Thailand resulting in a small overall global rise of 0.5 percent. Despite a decrease in Chinese apparent demand for refined zinc metal of 2.1 percent, global usage rose by a marginal 0.6 percent. This was mainly due to increases in the United States and Taiwan (China). Chinese imports of zinc contained in zinc concentrates increased by 33.9 percent to 549kt. Net imports of refined zinc metal amounted to 169kt, a decrease of 39.9 percent compared to the same period of 2016.
Full details are available in the August 2017 edition of the Group’s 77 page ‘Lead and Zinc Statistics’ Bulletin under www.ilzsg.org.
Source: International Lead and Zinc Study Group (ILZSG)