By Paul Ploumis (ScrapMonster Author)
June 16, 2016 11:25:27 PM
SPOKANE (Scrap Monster): The latest statistics published by the International Lead and Zinc Study Group (ILZSG) indicates that global refined zinc market was in surplus of 24,000 tons during the initial four-month period of the current year. The total reported zinc inventories increased by 32,000 tons during this period.
The zinc mine output declined considerably in major producing countries including Australia, India, Ireland, Peru and the United States. Overall, the zinc mine output declined by 8.1% during the initial four-month period in 2016 when compared with the corresponding period last year.
The refined zinc metal production during the four-month period totaled 4.399 million tons, 3.45% lower when compared with the 4.556 million tons output during corresponding four-month period in 2015. The refined zinc metal production surged higher in the Republic of Korea and Namibia. On the other hand, production recorded decline in major producing countries including India, Japan and the United States.
The global demand for refined zinc metal essentially remained flat at 4.375 million tons during January to April this year, as compared with 4.371 million tons during the same period last year. The Chinese apparent usage increased during this period. The European region too reported demand rise during this period. However, the rise in usage was offset by decreases in Japan, Taiwan and the United States.
Interestingly, Chinese net imports of zinc contained in concentrates plunged 20% during Jan-Apr ’16 in comparison with the corresponding period in 2015. The Chinese net imports of refined zinc metal totaled 327,000 tons. The net imports of refined zinc metal skyrocketed by 163% to 213,000 tons.
The ILZSG preliminary data indicates that global zinc mine output totaled 1.060 million tons during the month of April alone. The global refined zinc metal production totaled 1.110 million tonnes, whereas global zinc demand totaled 1.112 million tons during the month.
Lead
The ILZSG preliminary data indicates that global refined lead market was in surplus of 23,000 tons during the initial four-month period in 2016. The total reported lead inventories declined by 2,000 tons during the same period.
The lead mine production reported decline in countries such as Australia, India, China and the United States. The overall global lead mine production dropped by nearly 5% during Jan-Apr ’16 when compared with the corresponding four-month period in 2015. The world lead mine output during the four-month period this year totaled 1.454 million tons as against 1.531 million tons during the same period in 2015.
The refined lead metal production during the four-month period totaled 3.393 million tons, marginally lower by 1.76% when compared with the 3.454 million tons output during corresponding four-month period in 2015. The refined lead metal production declined sharply in China. On the other hand, Canada and the Republic of Korea recorded increased lead metal output.
The global demand for refined lead metal witnessed marginal dip of 2.5% to 3.370 million tons during January to April this year. The European apparent usage increased sharply by 8.8%. Chinese apparent usage dropped by 12.1%.
The ILZSG preliminary data indicates that global lead mine output totaled 393,600 tons during the month of April alone. The global refined zinc metal production totaled 873,400 tons, whereas global zinc demand totaled 862,100 tons during the month.
About ILZSG
ILZSG, formed in 1959 by the UN, is one of the longest established international commodity organizations. It provides opportunities for regular intergovernmental consultations on international trade in lead and zinc, continuous information on the supply and demand position of lead and zinc and its probable development and to make special studies of the world situation and consider possible solutions to any problems or difficulties which are unlikely to be resolved in the ordinary development of world trade.
