By Paul Ploumis (ScrapMonster Author)
July 22, 2016 08:27:27 PM
ALBANY (Scrap Monster): The latest statistics published by the International Lead and Zinc Study Group (ILZSG) indicates that global refined zinc market was in deficit of 64,000 tons during the initial five-month period of the current year. The total reported zinc inventories declined by 24,000 tons during this period.
The zinc mine output declined considerably in major producing countries including Australia, India, Ireland, Peru and the United States. Overall, the zinc mine output declined significantly by 7.7% during the initial five-month period in 2016 when compared with the corresponding period last year.
The refined zinc metal production during the five-month period totaled 5.533 million tons, 3.61% lower when compared with the 5.740 million tons output during corresponding five-month period in 2015. The refined zinc metal production surged higher in the Republic of Korea and Namibia. On the other hand, production recorded decline in major producing countries including India, Japan and the United States.
The global demand for refined zinc metal has increased marginally by 0.6% to 5.597 million tons during January to May this year, as compared with 5.563 million tons during the same period last year. The Chinese apparent usage increased by 8.2% during this period. The European region too reported demand rise during this period. However, the rise in usage was offset by decreases in Japan, South Korea, Taiwan and the United States.
Interestingly, Chinese net imports of zinc contained in concentrates plunged 26% during Jan-May ’16 in comparison with the corresponding period in 2015. The Chinese net imports of refined zinc metal totaled 373,000 tons. The net imports of refined zinc metal skyrocketed by 112% to 250,000 tons.
The ILZSG preliminary data indicates that global zinc mine output totaled 1.118 million tons during the month of May alone. The global refined zinc metal production totaled 1.139 million tonnes, whereas global zinc demand totaled 1.207 million tons during the month.
Lead
The ILZSG preliminary data indicates that global refined lead market was in surplus of 53,000 tons during the initial five-month period in 2016. The total reported lead inventories increased by 30,000 tons during the same period.
The lead mine production reported decline in countries such as Australia and the United States. The overall global lead mine production dropped by nearly 5% during Jan-May ’16 when compared with the corresponding five-month period in 2015. The world lead mine output during the five-month period this year totaled 1.845 million tons as against 1.943 million tons during the same period in 2015.
The refined lead metal production during the five-month period totaled 4.275 million tons, marginally lower by 1.88% when compared with the 4.357 million tons output during corresponding five-month period in 2015. The refined lead metal production declined sharply in China. On the other hand, Republic of Korea and Kazakhstan recorded increased lead metal output.
The global demand for refined lead metal witnessed marginal dip of 3.3% to 4.222 million tons during January to May this year. The European apparent usage increased sharply by 9.8%. Chinese apparent usage dropped by 12.4%. The usage in the United States and the Republic of Korea fell by 1.2% and 7.5% respectively.
The ILZSG preliminary data indicates that global lead mine output totaled 391,700 tons during the month of May alone. The global refined zinc metal production totaled 879,300 tons, whereas global zinc demand totaled 849,600 tons during the month.
About ILZSG
ILZSG, formed in 1959 by the UN, is one of the longest established international commodity organizations. It provides opportunities for regular intergovernmental consultations on international trade in lead and zinc, continuous information on the supply and demand position of lead and zinc and its probable development and to make special studies of the world situation and consider possible solutions to any problems or difficulties which are unlikely to be resolved in the ordinary development of world trade.
