WBMS: Global Lead Market In 40,800-ton Surplus Jan-Jun

LONDON, Aug 20 --The global lead market was in surplus by 40,800 metric tons in the first six 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 2.707 million tons in January to June, which was 25% above the total recorded for the first six 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 19,000 tons lower than the year earlier period, the WBMS said, without citing a total production figure.

Chinese apparent consumption, it said, was 2.212 million tons in January to June, which was 12,000 tons below the comparable period in 2011 and represented 45% of the global total, it added.

In June 2012 global refined lead production was 913,000 tons and consumption was 902,000 tons.