WBMS: Global Zinc Market In 166,000-Ton Surplus Jan-March

LONDON, May 18 -- The global zinc market recorded a surplus of 166,000 metric tons in January to March, the World Bureau of Metal Statistics said Wednesday.

This compares with a surplus of 383,00 tons during the same period of 2010.

Refined zinc production and consumption were similarly higher than the very low levels recorded at the beginning of last year. Japanese demand was 109,300 tons, 12.6% below the equivalent total for January to March 2010.

World demand was 172,100 tons higher than in the first three months of 2010.

Chinese apparent demand was 1.269 million tons, equivalent to almost 42% of the global total. No allowance is made in the consumption calculation for unreported stock changes.

In March, slab zinc production was 1.106 million tons and consumption 1.055 million tons.