The International Lead and Zinc Study Group (ILZSG) has released the preliminary data for world lead supply and demand during the first quarter of 2014. The provisional data indicates that the lead mine supply has grown by almost 5% year-on-year during the initial three month period of the year.
According to ILZSG, the world demand for refined lead metal exceeded supply by 10kt during the first quarter of the year. The total reported stock levels declined by 18 kt during the same period.
The higher mine output from Australia, Mexico, Peru and the US contributed to the 5% year-on-year growth in global lead mine supply. On the other hand, the mine supply from Canada and Turkey declined during the quarter.
The global refined lead metal production declined by 1.7% during Q1 this year. This was primarily on account of lowered production from China and the US.
The global demand for refined lead metal declined by 2% during the quarter. The apparent usage of refined metal by China and the US fell by 2.5% and 6.7% respectively. However, the apparent usage in Europe and Japan rose by 1.4% and 1% respectively.
ILZSG statistics indicate that the lead mine supply during the first quarter of 2014 totalled 1,161,000 tonnes as against 1,106,000 tonnes in Q1 2013. The global refined lead metal production during Q1 ’14 totalled 2,621,000 tonnes as against 2,665,000 tonnes in Q1 2013. The apparent lead usage totalled 2,631,000 tonnes during Q1 ‘14, down from 2,686,000 tonnes in the corresponding quarter in 2013.