Jul 18, 2012, LONDON (Dow Jones Commodities News via Comtex) --The global zinc market recorded a surplus of 253,000 metric tons in January to May, the World Bureau of Metal Statistics said Wednesday.
This compares with a surplus of 551,000 tons for all of 2011.
WBMS said global refined zinc production fell 3.1% and zinc consumption dropped 3% during the first five months of the year compared with the same period a year ago. The statistics group didn't disclose figures for output and demand during that period.
Japanese apparent refined zinc demand fell 6% on year to 195,200 tons during the first five months of the year. Meanwhile, Chinese apparent zinc demand rose 1.7% on year to 2.14 million tons during the same period, or roughly 44% of the global total.
No allowance is made in the consumption calculation for unreported stock changes, WBMS said.
Reported zinc stocks rose 90,700 in the first five months of the year with almost all of the increase recorded at London Metal Exchange-registered warehouses. LME zinc stocks represent 75% of the global total.
In May, slab zinc production was 1.04 million tons and consumption 982,700 tons.