Australia, China, Peru drives global lead mine production in Q1, up by 25%: ILZSG

Metal Recycling News  |  2012-05-18 06:01:09   |   By

Global lead mine production rose in the first quarter (Q1) of this year mainly due to higher production in Australia, China and Peru, said ILZSG.

LONDON (Scrap Monster): Global lead mine production rose by 25% year-on-year to 1198 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.

This is mainly due to higher production in Australia, China and Peru. World produced 958 kilo tons in the first quarter of 2011.

According to the ILZSG data, the global supply of refined lead metal exceeded demand by 37 kilo tons and that total reported inventories increased by 27 kilo tons.

ILZSG also stated that, a reduction in refined lead metal production in China more than balanced rises in India, Japan, the Republic of Korea and Mexico resulting in an overall decline in global output of 5.4%.

A decrease in world refined lead metal usage of 6.3% was primarily influenced by falls in European usage of 6.3% and in Chinese apparent demand of 15.4%, ILZSG concluded.

Lead fell by 1.35% to $2,008/ton on the London Metal Exchange (LME) over the past week. The metal declined along with other commodities, largely on fears of a deepening recession in Europe.

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.