LONDON, Apr 29, 2010 (Dow Jones Commodities News via Comtex) -- The global refined lead market is forecast to be in a near 100,000 metric ton surplus for the whole of 2010, the International Lead and Zinc Study Group said Thursday.
That compares to a 71,000 metric ton surplus in 2009.
For 2010, it forecasts global lead mine output to rise by 5.1% to 4.20 million tons in 2010, refined lead output to rise by 7.5% to 9.41 million tons and refined lead use to rise by 7.3% to 9.31 million tons.
ILZSG projects Chinese lead production to rise by 11% on the year with the increase in global output driven by higher output in Australia, China, India and Mexico.
On the demand side, the group said the rise will be mainly driven by a further 9.1% increase in usage in China due to anticipated strong growth in the industrial battery sector and further rises in automotive and e-bike sales.
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