The latest Metals Balances Report released by the World Bureau of Metal Statistics (WBMS) indicates that global Zinc market has ended in a marginal deficit during the initial seven-month period of 2017. Also, Lead and Tin markets too have recorded deficit during the first seven months of the year.
The report indicates that global refined zinc market was in deficit during the initial seven-month period of 2017.
According to preliminary data compiled by WBMS, the global zinc market ended in a deficit of nearly 347,000 tonnes during January to July this year. Going by the current trends, the world zinc market is estimated to post a full-year deficit of around 595,000 tonnes, said analysts. The total reported zinc inventories have declined by 15,000 tonnes during the month of July 2017. The LME stocks declined further by 25,000 tonnes in July and ended the month 163,000 tonnes lower when matched with the levels at the end of the previous year, WBMS noted.
During the initial seven-month period of the year, global zinc refined production rose marginally by 0.6%. The consumption surged higher by 2.3% when compared with the corresponding period in 2016. The global zinc metal demand stood higher by 182,000 tonnes than in January to July 2016. With an apparent demand of 3.774 million tonnes, China accounted for nearly 46% of the global demand.
The WBMS preliminary data indicates that global refined lead market was in deficit by 289,000 tonnes during the first seven months of 2017. This follows a deficit of 147,000 tonnes during the entire year 2016. The total reported stock at the end of July this year was 31,000 tonnes lower when compared with the stocks at the end of the previous year.
The refined lead metal production during the initial seven-month period of 2017 totaled 6.798 million tonnes, modestly higher by 9.9% when compared with the production during the corresponding period last year. The global demand edged higher by 816,000 tonnes. The Chinese apparent demand totaled 2.996 million tonnes, accounting for 42% of the global demand. The US apparent demand surged higher by 216,000 tonnes during Jan-July ’17 upon comparison with the corresponding period in 2016.
The WBMS preliminary data indicates that global refined lead metal production totaled 970,500 tonnes, whereas global lead demand totaled 1.035 million tonnes during the month.
The worldwide Tin market has recorded a marginal deficit during January to July this year. As per WBMS data, the global Tin market recorded slight deficit of 7.5 kt.
Global refined Tin production edged higher by 15.7 kt during the seven-month period. The Asian production increased by 17.5 kt during Jan-July ’17, when matched with the production during the corresponding period last year.
The global demand for the metal has increased marginally by 0.80% when matched with January to July in 2016. The demand totaled 222.6 kt during this period. The Chinese apparent demand saw slight decline of 0.2% over the previous year. The Japanese consumption totaled 17.2 kt, significantly higher by 14% when compared with the demand recorded during January to July in 2016.
The reported stock of the metal jumped higher by 3.6 kt in July this year. The stock at the end of the first seven months in 2017 was higher marginally by 5.4 kt when compared with Dec ’16 closing levels.
During the month of July alone, the global refined Tin production totaled 29.8 kt, as against the demand of 28.9 kt.