NEW YORK Global refined zinc supply exceeded demand in the first 11 months of 2012, according to preliminary data from the International Lead and Zinc Study Group (ILZSG).
Supply of refined zinc exceeded demand by 267,000 tonnes, with total inventory levels increasing by 432,000 tonnes, the Lisbon, Portugal-based group said.
Zinc metal production rose to 1.12 million tonnes in November from 1.09 million tonnes in October. That brought year-to-date production to 11.6 million tonnes, down 3.4 percent from the same period a year earlier.
Global zinc usage fell to 984,100 tonnes in November from almost 1.1 million tonnes in October, putting the year-to-date total at 11.3 million tonne, down a little more than 3 percent year on year.
Global lead metal production hit 938,300 tonnes in November, bringing year-to-date production to nearly 9.9 million tonnes, up 2.2 percent from the same 2011 period.
Lead usage hit 936,500 tonnes in November, putting the year-to-date total up 3.5 percent year on year to 9.8 million tonnes.