WBMS: Global Zinc Market In 427,000-ton Surplus January-June

LONDON, Aug 17, 2011 (Dow Jones) -- The global zinc market recorded a surplus of 427,000 metric tons in January to June, the World Bureau of Metal Statistics said Wednesday.

This compares with a surplus of 395,000 recorded in the whole of 2010.

Refined production and consumption rose by 3.3% and 0.3% respectively compared with the very low levels recorded at the beginning of last year. Japanese demand was, at 249,700 tons, 1.8% below the equivalent total for January-June 2010.

World demand was 19,900 tons higher than in the first half of 2010.

Chinese apparent demand was 2.571 million tons, which is almost 43% of the global total. No allowance is made in the consumption calculation for unreported stock changes.

In June, slab zinc production was 1.110 million tons and consumption 1.060 million tons.