World Lead Market Ended in Surplus Until October This Year, Says ILZSG

SEATTLE (Scrap Monster): According to the most recent issue of the International Lead and Zinc Study Group's (ILZSG) monthly "Lead and Zinc Statistics Bulletin," the world's supply of refined lead metal surpassed demand by 21kt in the first 10 months of 2024. According to a recent press release, the overall reported lead inventory levels rose by 60,000 tonnes during this time.

Between January and October of 2024, the production of lead mines worldwide grew by a slight 1.5%. Australia, Bolivia, Bulgaria, Kazakhstan, Peru, Sweden, and the United States reported higher mine output, which was mostly responsible for the increase. Ireland, Portugal, and South Africa reported lower output, which somewhat counterbalanced the gain. From January to October of this year, the lead mine output totalled 3.727 million tonnes, up from 3.674 million tonnes the previous year.

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The production of refined lead metal has decreased by 1.7% during this time, mostly due to decreased output in China and Canada, which has been somewhat offset by increases in Australia, India, Japan, and the Republic of Korea. Meanwhile, the amount of lead metal used worldwide decreased slightly year over year, from 10.936 million tonnes to 10.761 million tonnes.

According to the ILZSG monthly figures, the overall monthly output of lead mines worldwide in October of this year was 399.7kt. During the month, 1,095.0 kt of lead metal was used worldwide, while 1,111.4 kt of refined lead metal was produced worldwide.