UNITED KINGDOM May 05 2017 12:16 PM
LONDON (Scrap Register): The global demand for refined lead metal is forecast to total 11.39 million tonnes in 2017, marginally higher by 2.3% over the previous year, according to International Lead and Zinc Study Group (ILZSG). The demand growth will be mainly driven by Chinese demand, which is expected to grow by 4.3% over the previous year.
The lead metal usage by Europe is forecast to remain flat. It must be noted that the European region had posted nearly 10% jump in usage during 2016. ILZSG predicts flat steady demand growth in Japan and the Republic of Korea. Both India and the US is expected to record demand growth of nearly 1.5% in 2017.
The lead mine production is expected to surge higher significantly by 4.3% over the previous year in 2017. The full year lead mine production is estimated at 4.92 million tonnes, mainly on the back of ramped-up production from China.
The output by other major producing countries such as Canada, Greece, Kazakhstan, Mexico and India are also expected to post considerable growth in 2017. Specifically, higher output is expected from Hindustan Zinc’s Rajasthan operations.
The global refined lead metal production is anticipated to increase by 2.2% year-on-year to 11.39 million tonnes in 2017, on account of increased output by China and India. It must be noted that world refined lead metal output had increased by 2.8% in 2016.
The output by Belgium and the US are likely to show significant improvement during the year. The recently commissioned lead-acid battery recycling plant in Nevada will also contribute to the lead output during the current year, stated ILZSG.
ILZSG anticipates close balance between refined lead metal supply and demand in 2017. Further, the reported inventory levels of refined lead are forecast to remain more or less similar to current total.