UNITED STATES November 23 2016 3:34 PM
LONDON (Scrap Register): Global zinc market has recorded small surplus during January to September of this year. It must be noted that the zinc market had ended in surplus in the whole of 2015, as per the latest figures from the World Bureau of Metal Statistics.
The global zinc market recorded marginal surplus of 54 kt during the initial nine months of the year from January to September. It should be noted that the worldwide zinc market had reported a surplus of 100 kt during the entire year 2015.
Global refined zinc production witnessed decline of 1.0% during the initial nine-month period of 2016. The Chinese production of locally refined zinc increased marginally by nearly 0.2% when compared with 2015.
The global demand for the metal witnessed jump of 64 kt when matched with January to September in 2015. The Chinese apparent demand totaled 4,966 kt and accounted for over 48% of the global total. The Japanese demand for the metal tumbled by 2.1% when matched with the levels recorded during Jan-September ’15. The demand during the nine -month period totaled 352 kt.
The reported stock of the metal has declined by 74,000 tonnes during the initial nine months of the year. Also, LME zinc stocks dropped by 12,400 tonnes during the month of September and accounted for 43% of the global stock of the metal. The LME stock levels at the end of September this year were 24.0 kt lower when matched with end-2015 levels.
The Chinese zinc metal imports, mostly special high grade zinc increased by 44 kt during Jan-September ’16 to 351 kt when compared with the imports during the same period last year. The imports of metal by China declined marginally to17 kt during the month of September this year.
The zinc slab production during September ’16 totaled 1,274.3 kt and the consumption totaled 1,195.1 kt.