UPDATE: Global Lead Mkt In 37,000 Ton Surplus Jan-June-ILZSG
marketwatch.com
LONDON, Aug 19, 2009 (Dow Jones Commodities News via Comtex) -- (Adds details.)
The global refined lead market was in a 37,000-metric-ton surplus between January and June 2009, the International Lead and Zinc Study Group said Wednesday.
The surplus compares with a 1,000-ton deficit a year earlier.
Global refined lead production totaled 4.241 million tons and consumption totaled 4.204 million tons.
Global lead mine output fell by 4.5% compared with the first six months of 2008, mainly due to lower production in Australia, Canada, Peru and the U.S.
Chinese refined lead output rose by 14.4%, offsetting declines in Australia, Germany, Italy, Japan and the U.S.
World demand for refined lead fell by 0.7% with a drop of 17.9% in Europe, 11.6% in the U.S. and 47.1% in Japan offset by growth in Chinese apparent usage of 25.3%, ILZSG said.
Chinese net imports of refined lead metal during the first half of 2009 amounted to 128,000 tons compared with net exports of 24,000 tons for the same period in 2008.
Western world balance was in a 60,000-ton surplus compared with a 134,000-ton deficit a year earlier.
-By Devon Maylie, Dow Jones Newswires; +44 (0)20 7842 9483; devon.maylie@dowjones.com |
