ILZSG: World Zinc Mkt In 112,000-Ton Surplus Jan-Sep (Dow Jones)
DJ UPDATE: ILZSG: World Zinc Mkt In 112,000-Ton Surplus Jan-Sep
(Rewrites lead, adds details on production and consumption)
metalprices.com
LONDON (Dow Jones)--The world market for refined zinc was in a 112,000-metric
ton surplus in January to September as production rose strongly on the year,
the International Lead and Zinc Study Group said Monday.
Global production of 8.825 million tons was greater than consumption at 8.713
million tons.
Refined output grew 7.1% year-on-year, led by increases in China, India,
Japan, South Korea, Mexico and Peru.
Consumption rose 3.6%, as demand growth in China, as well as modest increases
in Brazil, India and Indonesia, offset declines in Europe, Japan and the U.S.
China became a net importer during the period, bringing in 104,000 tons of
refined zinc, compared to exports of 143,000 tons in the same period a year
earlier.
Western world consumption, at 5.283 million tons, was greater than production
at 5.105 million tons, creating a deficit of 178,000 tons in the region.
World mine output during the period rose 7.1% to 8.776 million tons due to
production growth in Bolivia, Canada, China, Kazakhstan and Peru.
In the month of September, world refined production totaled 1.0005 million
tons, up from 983,300 tons in August.
Consumption fell to 997,600 tons, down from 1.0036 million tons a month
earlier.
-By Matthew Walls, Dow Jones Newswires; +44 (0)20 7842 9412;
matthew.walls@dowjones.com
(END) Dow Jones Newswires
11-17-08 1040ET |
