UPDATE: WBMS: Global Zinc Market In 513,000-ton Surplus In 2011

LONDON, Feb 15, 2012 (Dow Jones Commodities News via Comtex) -- The global zinc market recorded a surplus of 513,000 metric tons in 2011, the World Bureau of Metal Statistics said Wednesday.

This compares with a surplus of 425,000 tons recorded for the whole of 2010, the WBMS added.

Refined zinc production and consumption were 2% and 1.4% higher respectively than the very low levels recorded at the beginning of last year, although the WBMS didn't provide figures. Japanese demand was 505,000 tons, 2.2% below the equivalent total for 2010.

World demand was 169,000 tons higher than in 2010, the WBMS said, although it didn't provide figures.

Chinese apparent demand was 5.442 million tons, which is over 43% of the global total.

No allowance is made in the consumption calculation for unreported stock changes.