SMM News: according to foreign news on May 22, the report released by the World Bureau of Metal Statistics on Wednesday showed that the global zinc market had an oversupply of 96400 tons from January to March 2019, compared with a surplus of 73900 tons for the whole of last year.
Between January and March, inventories were reported to have decreased by 12000 tons, while Shanghai reported a net increase of 90, 000 tons. Inventories at (LME) warehouses on the London Metal Exchange fell from January to March, down 78000 tons from December levels. LME stocks account for 9 per cent of the global total, with most of them in warehouses in the US and the Netherlands.
Global refined zinc production fell 4.7 per cent from January to March 2019, and consumption fell 4.8 per cent from a year earlier. Japan's apparent demand was 120900 tons, down 12.6 per cent from January to March 2018.
Global zinc demand fell 156000 tons from January to March 2019 compared with the same period last year. China's apparent demand is 1.405 million tons, accounting for about 45 per cent of the global total. Unreported inventory changes are not included in consumption statistics.
In March 2019, the output of flat zinc billet was 1.0892 million tons and the consumption was 989000 tons.