Global Lead demand exceeds supply by 119KT during Jan-Aug
LONDON (Scrap Register): Global refined lead metal demand exceeded supply by 119 kilo tons during the first eight months of 2017. Over the same period total reported stock levels decreased by 28kilo tons, according to the International Lead and Zinc Study Group (ILZSG).
A 6.8% rise in global lead mine production was primarily a consequence of increases in China, India and Kazakhstan that more than balanced a sharp decline in Australia.
Higher output in China and India was the main driver behind a rise in global refined lead metal output of 4.1%. The latest data from the United States Geological Survey (USGS) Indicates that production in the US fell by 10.1%.
An increase in global demand for lead metal of 6.4% was primarily influenced by a rise in Chinese apparent demand of 12.4%. Usage in Europe was up by 3.5% and in the United States by 3.1%.
Imports of lead contained in lead concentrates into China decreased by 4% to total 480kilo tons. Chinese net imports of refined lead metal amounted to 63kilo tons compared to net exports of 12kilo tons over the first eight months of 2016.