Global demand for refined lead metal exceeded supply by 22,000 mt in 2013, according to preliminary data compiled by the International Lead & Zinc Study Group.
"Overall global demand for refined lead metal increased by 4.5%. This was principally driven by rises in usage of 16% in the United States, 4.9% in China, 3.5% in Europe, and 11.5% in the Republic of Korea that more than offset contractions in India, Japan and Mexico," the ILZSG said Monday.
Lead metal usage totaled 10.615 million mt last year, as against production of 10.593 million mt.
A rise in world output of refined lead metal of 3.7% was primarily a consequence of higher production in China, Italy, Peru and the US, the ILZSG said, adding that production from secondary (recycled) raw materials accounted for 54.7% of total output, compared with 55.6% in 2012.
Global lead mine production increased 6.4% compared, mainly as a result of higher output in China and Australia, where Ivernia's Paroo Station mine reopened in March.
Chinese imports of lead contained in lead concentrates fell 18% to 822,000 mt from the record levels attained in 2012, while lead inventories reported by the London Metal Exchange, Shanghai Futures Exchange, and producers and consumers decreased 42,000 mt in 2013, totaling 599,000 mt at the year's end, the ILZSG said.
