CHINA June 02 2016 2:37 PM
LONDON (Scrap Register): Latest figures from International Lead and Zinc Study Group indicated that world refined lead metal supply exceeded demand by 29kt during the first quarter of 2016. Over the same period total reported stock levels declined by 22kt.
Ex-China lead mine output fell by 5% due mainly to reductions in Australia, Ireland, India and the United States that were partially balanced by rises in Bolivia and Mexico. Chinese production is estimated to have fallen by 14.2% and global output by 9.1%.
On an ex-China basis output of refined lead metal increased by 4.3%. This was primarily a consequence of higher output in the Republic of Korea and the United States.
According to Antaike, Chinese production amounted to 930kt, a reduction of 11.2% compared to the same period in 2015. A fall in global refined lead metal usage of 2.6% was principally influenced by a fall in Chinese apparent demand of 13.3%. A 4.9% rise in Ex-China usage was driven mainly by increases in Europe, Indonesia, Mexico and Thailand.