Global Zinc market records deficit during Jan to May

UNITED KINGDOM July 25 2017 12:29 PM

LONDON (Scrap Register): The zinc market was in deficit by 181 kilo tons during January to May this year which compares with a deficit of 236 kilo tons recorded in the whole of the previous year, according to the World Bureau of Metal Statistics.

Reported zinc stocks fell by 53 kilo tons during May. LME stocks fell by 18 kilo tons in May and ended the month 98 kilo tons lower than at the end of 2016. LME Zinc stocks represent 39 per cent of the global total. 

Chinese zinc demand fell by 0.6 per cent compared with the previous year. Zinc production of locally refined metal in China fell by 1.3 per cent compared with 2016. 

Chinese Zinc imports of mostly special high grade metal were 33 kilo tons in May which brought the year to date figure to 139 kilo tons, 121 kilo tons lower than in January to May 2016.

Global refined zinc production rose by 1.5 per cent and consumption was 2.5 per cent higher than the levels recorded one year earlier. Japanese demand was, at 216 kilo tons, 13% above the equivalent total for January to May 2016.

Global demand was 140 kilo tons higher than for January to May 2016. Chinese apparent demand was 2643 kilo tons which is 46 per cent of the global total. No allowance is made in the consumption calculation for unreported stock changes.

In May 2017 slab zinc production was 1093.1 kilo tons and consumption 1141.8 kilo tons.