ILZSG: Global Refined Lead Metal Output Surged in 2023

SEATTLE (Scrap Monster): The International Lead and Zinc Study Group (ILZSG) released preliminary data for world lead supply and demand during the year ended 31st December, 2023. The data suggests that global supply of refined lead metal exceeded demand by 92k during the previous year.

The global lead mine production recorded increase in Bolivia, Kazakhstan, Peru and Australia. These increases were partially balanced by reductions in Europe, Mexico and the United States. This resulted in an overall marginal rise in mine production by 1.1% to total 4.499 million tonnes.

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The refined lead metal output rose by 2.8% from 12.506 million tonnes in 2022 to 12.853 million tonnes in 2023. Australia, China, Germany, India and the United Arab Emirates recorded increased production. The rise in production from the above countries were partially offset by reductions in Bulgaria, Italy, Japan, the Republic of Korea, the Russian Federation and the United Kingdom.

The global demand for refined lead metal rose by 1% to 12.761 million tonnes in 2023. The demand recorded surge in Europe, China, India, Mexico and Taiwan, which were largely offset by decline in the Republic of Korea, Turkiye and the United States.

The lead inventories rose by 123kt to total 447kt at the end of the year, ILZSG report said.