NEW YORK The global zinc market saw a 15,600-tonne deficit in April, according to preliminary data from the International Lead and Zinc Study Group (ILZSG).
Zinc metal production totaled 1.09 million tonnes, up 4.1 percent from 1.05 million tonnes in April last year, but production was outpaced by consumption of nearly 1.11 million tonnes, up 6.1 percent from 1.04 million tonnes a year earlier on the back of higher refined metal usage in the United States (up 11.9 percent), India (10.7 percent), China (7.1 percent) and Europe (3.7 percent).
Inventory levels in the first four months of this year fell by 111,000 tonnes from a year earlier, according to the ILZSG report, while stocks in London Metal Exchange-approved warehouses dropped by 152,575 tonnes.
The global lead market remained in a deficit in April, with consumption of 908,200 tonnes (up 6.6 percent from 851,600 tonnes a year earlier) exceeding metal production of 888,200 tonnes (up 3.5 percent from 857,800 tonnes) by 20,000 tonnes. It was the third consecutive month that lead was in a deficit.
The ILZSG said that refined lead metal demand increased 13.7 percent in the United States and 10.8 percent in China during April.