Lead Updates

World Bureau of Metal Statistics (WBMS) said that lead market was in surplus by 17200 tonnes in January to August 2012, which follows a surplus of 2600 tonnes recorded in the whole of 2011. Total stocks at the end of August were 54600 tonnes lower than at the end of 2011. Lead mine production was 3.59 million tonnes, which was 23 percent above the total recorded for the first eight months of 2011. The jump in production of concentrates is largely due to abnormally low Chinese output in January and February 2011.

Refined production from both primary and secondary sources was 6.86 million tonnes. Global production rose by 1 per cent and demand was 56000 tonnes higher. Apparent consumption in China totalled 3.08 million tonnes of lead in January to August 2012 which was 109000 tonnes above the comparable period in 2011 and represented 45 percent of the global total. In August 2012, refined lead production was 942900 tonnes and consumption was 952000 tonnes.