Global Lead Market Records Surplus as Inventories Decline- ILZSG
Refined lead metal production expanded at a faster pace, rising 1.7% over the same period.
SEATTLE (Scrap Monster): Lead markets posted a surplus in the first ten months of 2025, according to the Lead and Zinc Statistics Bulletin from the International Lead and Zinc Study Group (ILZSG). Refined lead supply exceeded consumption by around 20 kilotonnes, while reported inventories declined by 22 kilotonnes, underscoring market adjustments.
Worldwide lead mine output edged up just 0.1% year on year between January and October. Gains in China, India, Peru, Turkiye and several European countries offset weakness elsewhere, keeping overall growth minimal.
Refined lead metal production expanded at a faster pace, rising 1.7% over the same period. Higher output in Canada, China, India, South Korea, Mexico, Sweden and Brazil underpinned the increase, although these gains were partially counterbalanced by lower production in Japan, Kazakhstan and the United Kingdom.
Demand for refined lead rose 1.5%, supported by stronger usage in Brazil, Taiwan, the United States and Vietnam. Consumption also improved across Europe, led by France, Germany, Poland and the UK, while year-on-year declines were recorded in Mexico and India.
In October, lead mines produced 403 kilotonnes. Refined lead output totalled 1,101.3 kilotonnes, compared with usage of 1,115.7 kilotonnes.
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