By Paul Ploumis 27 Jul 2015 Last updated at 02:57:53 GMT
BRUSSELS (Scrap Monster): The global lead market has recorded a small surplus of 31,000 tonnes during January to May this year, as mentioned in the latest metals balances report published by the World Bureau of Metal Statistics (WBMS). It must be noted that the worldwide copper market had reported a deficit of 16,800 tonnes for the entire year 2014.
The global refined copper output declined by 3.7% over the previous year to 4,146 kt. This is inclusive of production from primary and secondary sources.
The global copper demand during Jan-May ’15 has dropped by 206 kt. The Chinese apparent consumption recorded sharp fall of 73,000 tonnes during this period to total 1,655 kt. The Chinese demand accounted for just over 40% of the global demand. Also, the US apparent consumption decreased 47,000 tonnes.
According to the report, reported stocks of the metal at the end of May this year dropped to 93.5 kt , lower when matched with the stock levels during end-2014.
The refined lead production during May 2015 alone totaled 850.80 kt. The consumption during the month totaled 832.90 kt.