WBMS: Global Lead Market In 17,200-ton Surplus Jan-Aug

Oct 17, 2012 (Dow Jones Commodities News via Comtex) --

The global lead market was in surplus by 17,200 metric tons in the first eight months of 2012, the World Bureau of Metal Statistics said Wednesday.

The market recorded a surplus of 2,600 tons for 2011.

The WBMS said global lead mine production was 3.589 million tons in January to August, which was 23% above the total recorded for the first eight 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 56,000 tons higher than the year earlier period in the first eight months of the year, the WBMS said, without citing a total production figure.

Chinese apparent consumption, it said, was 3.081 million tons in January to August, which was 109,000 tons above the comparable period in 2011.