Lead market surplus totaled 13kt during Jan-Feb ‘16

BRUSSELS (Scrap Monster): The global lead market has recorded a surplus of 13,000 tonnes during January to February this year, as mentioned in the latest metals balances report published by the World Bureau of Metal Statistics (WBMS). It must be noted that the worldwide lead market had reported a surplus of 26 kt for the entire year 2015.

The global refined lead output during Jan-Feb ’16 increased by 2.4% over the previous year to 1,678.30 kt. This is inclusive of production from primary and secondary sources.

The lead mine production during January to February this year fell significantly. This was mainly on account of fall in mine output by China. Also, lead mine output by Australia dropped during this period.

The global lead demand during Jan-Feb ‘16 has surged higher by 37kt. The Chinese apparent consumption in January to February 2016 totaled 622 kt, which is marginally lower by 4 kt when matched with the corresponding two-month period in 2015. The Chinese apparent consumption represented over 37% of the global total. The apparent demand fell by 2 kt in the US.

According to the report, reported stocks of the metal at the end of February this year dropped by 24 kt when matched with the stock levels during the end of 2015.

The refined lead production during the month of Feb ’16 alone totaled 837.5 kt, whereas the consumption totaled 834.0 kt.

The global lead market had recorded a surplus of 157,000 tonnes during entire year 2015. The global refined lead output during 2015 had declined by 7.40% over the previous year to 10,133 kt. The global lead demand during Jan-Dec ’15 had dropped by 1,010kt.