NEW YORK U.S. zinc usage from January to October fell 2.8 percent year on year, while lead output rose, according to preliminary figures from the International Lead and Zinc Study Group (ILZSG).
The Lisbon, Portugal-based organization said that the global zinc market recorded a 157,000-tonne surplus in the first 10 months of the year vs. a 304,000-tonne surplus in the same period last year, while the global lead market surplus fell to 67,000 tonnes from 165,000 tonnes in the same period last year.
Zinc metal production totaled 1.09 million tonnes for October, bringing the year-to-date total to 10.4 million tonnes. Thats a 3.7-percent decline from the year-ago period.
Global zinc metal usage stood at 1.04 million tonnes in October, putting the year-to-date total at 10.3 million tonnes.
"A 2.4-percent fall in global usage of refined zinc metal was influenced primarily by reductions of 7.1 percent in Europe, 1.2 percent in China, 2.8 percent in the United States and 5.9 percent in Japan," ILZSG said.
Meanwhile, global lead metal production for October stood at 948,600 tonnes, bringing the year-to-date total to 8.9 million tonnes, up 2.3 percent year on year.
This was largely the result of production increases in China, India, South Korea, the United Kingdom and the United States, which more than offset declines in Australia, Kazakhstan, Morocco, New Zealand and Spain, the ILZSG said.
Global lead usage totaled 932,100 tonnes in October, putting the year-to-date total at 8.9 million tonnes, up 3.5 percent year on year.