By Carolina Curiel (ScrapMonster Author)
January 22, 2016 01:51:17 AM
BRUSSELS (Scrap Monster): According to the recently published metals balances report by the World Bureau of Metal Statistics (WBMS), the worldwide zinc market has recorded a marginal surplus during January to November this year. This is after recording a deficit during the whole year 2014.
As per WBMS data, the global zinc market recorded small surplus of 176 kt during the initial eleven months of the year from January to November. It should be noted that the worldwide zinc market had reported a deficit of 209 kt during the entire year 2014.
Global refined zinc production witnessed rise of 4.5% during the eleven-month period. The rise in refined zinc output was mainly on the back of ramp up in production by Asian countries including China and India.
The global demand for the metal has increased by 129 kt when matched with January to November in 2014. The Chinese apparent demand rose marginally by 2.1% over the previous year. The Chinese demand accounted for major chunk of the global metal demand during this period. The European demand for the metal dropped 2.7% when matched with the levels recorded during Jan-Nov ’14. The demand rise by these countries was offset by drop in demand in other countries such as India, Japan, South Korea and the US.
The reported stock of the metal has dropped marginally by 5,000 tonnes during the eleven-month period. The LME zinc stocks fell by 26 kt during the month of October and accounted for 48% of the global stock of the metal. The LME stocks were down by 128 kt when compared with end-2014 levels.
The global zinc mine production during Jan-Nov ‘15 remained more or less flat when compared with the corresponding 11-month period in 2014. The mine production from Australia, India, Peru, the Russian Federation and Sweden increased during this period. On the other hand, mine production by Bolivia, Canada, China, Ireland, Namibia and Turkey witnessed decline during Jan-Nov ’15.
The global mine production during the eleven-month period from January to November last year totaled 12,338 kt. The zinc metal production totaled 12,860 kt during this period. The metal usage amounted to 12,684 kt. The mine production totaled 1,105.10 kt during the month of Nov ’15 alone. The zinc metal production totaled 1,186.7 kt, whereas global usage totaled 1,214.10 kt during the month.