Global Zinc market records a deficit during Jan-July
NEW YORK (Scrap Register): The zinc market was in deficit by 35.1 kilo tons (kt) during January to July 2018 which compares with a deficit of 448 kt recorded in the whole of the previous year, according to the latest data released by the World Bureau of Metal Statistics.
Reported stocks rose by 26 kt during January to July with a net decrease in Shanghai of 21 kt over the period. LME stocks rose earlier in the year but declined by 11.1 kt during July closing at 238.1 kt which compares with 181 kt at the end of 2017.
LME stocks represent 34 per cent of the global total with the bulk of the metal held in US warehouses. Second quarter trade data for China is not available for technical reasons.
Global refined production fell by 2.6 per cent and consumption was 5.1 per cent lower than the levels recorded one year earlier.
Japanese apparent demand was, at 308.8 kt, 8.5 per cent above the equivalent total for January to July 2017. The March figure was higher than usual due to a decline of 9.3 kt in producer stocks at the end of the Japanese fiscal year.
World demand was 412 kt lower than for January to July 2017. Chinese apparent demand was 3474 kt which is 45 per cent of the global total. No allowance is made in the consumption calculation for unreported stock changes.
In July 2018 slab zinc production was 1020.9 kt and consumption 1068.5 kt.