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LISBON (Scrap Monster): Global refined zinc demand rose by 2% year-on-year to 3102 kilo tons in the first quarter (Q1) of this year, as per preliminary information compiled by the International Lead and Zinc Study Group (ILZSG) for Q1 of 2012.

It was principally driven by increased usage in China, India, Japan and the Republic of Korea. The refined zinc demand in Europe declined by 6.5% year-on-year in January-March and in the United States by 1.3% year-on-year, ILZSG added.

According to ILZSG, global refined zinc production was unchanged in first quarter as decreases in Belgium, China and South Africa were balanced by rises in India, Japan and the Republic of Korea.

Global zinc mine production increased by 12% principally in Q1 as a consequence of rises in Australia and China that more than offset reductions in Canada and Peru, they continued.

During the first three months of 2012 global production of refined zinc metal exceeded usage by 97kt. Over the same period reported stock levels increased by 95kt.

ILZSG is an intergovernmental organisation which provide continuous information on the supply and demand position of lead and zinc and its probable development and to make special studies of the world situation in lead and zinc.