SMM News: July 17 News, the World Bureau of Metal Statistics (WBMS) data released on Wednesday showed that the global lead market supply gap from January to May 2019 was 162000 tons, compared with a shortfall of 280000 tons for the whole of 2018. By the end of May, the total inventory in Australia had been reduced by 19000 tons by the end of 2018. Unreported inventory changes are not included in consumption statistics.
Global refined lead production (primary and regenerated) was 5.177 million tons in January-May 2019, an increase of 8.8 per cent over the same period last year.
China's apparent demand is expected to be 2.462 million tons, an increase of 499000 tons from a year earlier, accounting for about 46 per cent of the global total. From January to May 2019, US apparent demand increased by 13000 tons compared with the same period last year.
In May 2019, refined lead production was 1.0234 million tons and consumption was 1.0306 million tons.
