LONDON, Feb. 21 -- The global refined lead market was in surplus by 48,000 metric tons last year, the International Lead and Zinc Study Group said Monday.

The gap was smaller than the 57,000-ton surplus in the same period a year before, the ILZSG said.

In 2010, total production reached 9.401 million tons of refined lead, while consumption was recorded at 9.353 million tons, it said.

The refined lead market was in an 93,000-ton surplus in the western world during the same period, with output of 4.737 million tons and demand of 4.785 million tons.