ILZSG: World Lead Market Ended in Surplus During H1 2024

SEATTLE (Scrap Monster): The latest edition of the monthly ‘Lead and Zinc Statistics Bulletin’ published by the International Lead and Zinc Study Group (ILZSG) suggests that world refined lead metal supply exceeded demand by 15kt during the first six months of 2024. The total reported lead inventory levels increased by 93,000 tonnes during the half-yearly period, said the press release.

The global lead mine production increased marginally by 0.6% from January to June in 2024. The rise in mine output was primarily due to increased output reported by Australia, Kazakhstan, Peru and Sweden, which were partially offset by reductions in Ireland, Portugal and the United States. The lead mine output totalled 2.157 million tonnes in H1 this year, compared with 2.144 million tonnes a year before.

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The refined lead metal production during this period has declined by 0.8%, mainly as a result of lower output in China and Canada, which was largely balanced by increases in Australia, India, Japan and the Republic of Korea. Meantime, global lead metal usage recorded marginal decline from 6.512 million tonnes to 6.401 million tonnes year-on-year.

The ILZSG monthly statistics suggest that monthly global lead mine output totalled 389 kt in June this year. The global refined lead metal production totalled 1,048.80 kt, whereas global lead metal usage totalled 1,055.8 kt during the month.