WBMS: Global Lead Market In 9,800-ton Surplus Jan-May

Jul 18, 2012 (Dow Jones Commodities News via Comtex) --

The global lead market was in surplus by 9,800 metric tons in the first five months of 2012, the World Bureau of Metal Statistics said Wednesday.

This compares with a surplus of 4,300 tons over the whole of 2011.

The WBMS said global lead mine production was 2.177 million tons in January to May, which was 26% above the total recorded for the first five months of 2011. This jump in production was largely due to abnormally low Chinese output in January and February of last year, it said.

Global demand for refined lead was 233,000 tons lower than the year earlier period in the first five months of the year, the WBMS said, without citing a total production figure.

Chinese apparent consumption, it said, was 1.566 million tons in January to May, which was 247,000 tons below the comparable period in 2011.