By Paul Ploumis (ScrapMonster Author)
October 26, 2015 04:03:17 AM
According to WBMS statistics, the global zinc market has recorded marginal surplus of 123 kt during the initial eight-month period of the year.Zinc output exceeded demand by 123 kt during Jan-Aug ‘15
BRUSSELS (Scrap Monster): According to the latest published metals balances report by the World Bureau of Metal Statistics (WBMS), the worldwide zinc market has recorded a marginal surplus during January to August this year. During the entire year 2014, the global zinc market had recorded deficit.
As per WBMS data, the global zinc market recorded small surplus of 123 kt during the initial eight months of the year from January to August in 2015. It should be noted that the worldwide zinc market had reported a deficit of 209 kt during the entire year 2014.
Global refined zinc production witnessed rise of 6.0% during the eight-month period. The Chinese production of locally refined zinc surged higher by nearly 11.2% when compared with the corresponding eight-month period in 2014.
The global demand for the metal has improved by 114 kt when matched with January to August in 2014. The Chinese apparent demand rose slightly by 0.5% over the previous year to 4,215 kt. It accounted for just under 46% of the global refined zinc demand. The Japanese demand for the metal dropped 2.3% when matched with the levels recorded during Jan-Aug ’14. The Japanese demand during the eigtht-month period totaled 325.6 kt.
The reported stock of the metal has declined by 58,000 tonnes during the eight-month period. The LME zinc stocks increased by 92 kt during the month of August and accounted for 46% of the global stock of the metal. The stocks at the end of August this year were lower by 166 kt when compared with Aug ’14 levels.
The Chinese zinc metal imports reduced significantly during Jan-Aug ’15 to 265.6 kt when compared with the imports of 479.60 kt during the same period last year.
The slab zinc production during August this year totaled 1,178.40 kt. The consumption during the month totaled 1203.30 kt.