World Zinc, Lead and Tin Markets Reported Deficits in Jan-Oct '17

SEATTLE (Scrap Monster): The World Bureau of Metal Statistics (WBMS) has released the latest edition of the Metals Balances Report which provides detailed analysis of metals market during the first ten months of the current year. According to the report, world zinc, lead and tin markets recorded deficits during Jan-Oct ’17.

Zinc

The preliminary data compiled by WBMS indicates that global zinc market ended in a deficit of nearly 504,000 tonnes during January to October this year. The market deficit has more than doubled when compared with the deficit of 202,000 tonnes recorded during the entire year 2016. The total reported zinc inventories have increased marginally by 7,800 tonnes during October. The LME stocks rose marginally by 800 tonnes in October and ended the month 174,000 tonnes lower when matched with the levels at the end of the previous year, WBMS noted.

The global refined zinc production rose marginally by 0.10%. The consumption surged higher by 2.5% when compared with the corresponding period in 2016. The global zinc metal demand was 288,000 tonnes higher than for January to October 2016. Chinese apparent demand totaled 5.575 million tonnes.

The zinc slab production totaled 1.231 million tonnes in October, whereas the consumption totaled 1.237 million tonnes.

The global refined zinc production rose marginally by 0.10%. The consumption surged higher by 2.5% when compared with the corresponding period in 2016. The global zinc metal demand was 288,000 tonnes higher than for January to October 2016. Chinese apparent demand totaled 5.575 million tonnes.

Lead

The global lead market was in deficit by 376,000 tonnes during Jan-Oct ’17. This follows a deficit of 154,000 tonnes recorded in the whole of 2016. The total reported stock at the end of October 2017 was 63,000 tonnes lower than the 2016 levels.

The refined lead metal production during the initial ten-month period surged higher by over 9% to total 9.724 million tonnes. China accounted for nearly 42% of the global demand. The US apparent demand recorded a jump of 288,000 tonnes during Jan-Oct ’17.

The WBMS preliminary data indicates that global refined lead metal production totaled 977,700 tonnes, whereas global lead demand totaled 1.005 million tonnes in October.

Tin

The worldwide Tin market has recorded a marginal deficit of 10,500 tonnes during January to October this year.

Global refined Tin production edged higher by 20,000 tonnes. The Asian production increased by 20.1 kt over the previous year.

The global demand for the metal has declined marginally by 0.31% to 315.4 kt. The Chinese apparent demand declined by 5.4%.

The total reported stock of the metal edged lower by 6.5 kt in October this year. The stock at the end of the first ten months in 2017 was lower by 3.5 kt from December 2016 closing levels.

During the month of October alone, the global refined Tin production totaled 29.8 kt, as against the demand of 34.4 kt.