UNITED KINGDOM June 22 2017 3:49 PM
LONDON (Scrap Register): Global refined production rose by 3.1 per cent and consumption was 4.7 per cent higher than the levels recorded one year earlier. Japanese demand was, at 184 kilo tons, 19 % above the equivalent total for January to April 2016, according to the World Bureau of Metal Statistics.
The zinc market was in deficit by 106 kt during January to April 2017 which compares with a deficit of 236 kt recorded in the whole of the previous year. Reported stocks fell by 93 kt during April. LME stocks fell by 23 kt in April and ended the month 80 kt lower than at the end of 2016.
LME stocks represent 38.5 per cent of the global total. Chinese demand rose by 2 per cent compared with the previous year. Production of locally refined metal in China rose by 1.3 per cent compared with 2016. Chinese imports of mostly special high grade metal were 48 kt in April which brought the year to date figure to 106 kt, 115 kt lower than in January to April 2016.
World demand was 206 kt higher than for January to April 2016. Chinese apparent demand was 2095 kt which is 45.7 per cent of the global total. No allowance is made in the consumption calculation for unreported stock changes.
In April 2017 slab zinc production was 1111.5 kt and consumption 1237.0 kt.