Zinc market records deficit of 177 kilo tons in 2017
LONDON (Scrap Register): The zinc market was in deficit by 177 kilo tons during January to December 2017 which compares with a surplus of 100 kilo tons recorded in the whole of the previous year, according to the World Bureau of Metal Statistics.
Reported stocks fell by 145 kilo tons during the year. LME stocks fell by 14.2 kilo tons in December and ended the month 35 kilo tons lower than at the end of 2015. LME stocks represent 45 per cent of the global total.
Chinese demand rose by 3.2 per cent compared with the previous year. Production of locally refined metal in China rose by 1.9 per cent compared with 2015.
Chinese imports of mostly special high grade metal were 23 kilo tons in December and 25 kilo tons in November which brought the year to date figure to 424 kilo tons, 119 kilo tons lower than in January to December 2015.
Global refined production fell by 2.2 per cent and consumption was fractionally below the levels recorded one year earlier. Japanese demand was, at 487 kilo tons, 1.6 % above the equivalent total for January to December 2015.
World demand was 21 kilo tons lower than for January to December 2015. Chinese apparent demand was 6689 kilo tons which is over 48 per cent of the global total. No allowance is made in the consumption calculation for unreported stock changes.
In December 2017 slab zinc production was 1218.4 kilo tons and consumption 1174.1 kilo tons.