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Zinc market records surplus in January to April 2020

Metal News - Published on Tue, 30 Jun 2020

Image Source: Zinc
World Bureau of Metal Statistics announced that the zinc market was in surplus by 51 kt during January to April 2020 which compares with a deficit of 75 kt recorded in the whole of the previous year. Reported stocks increased by 151 kt during January to April which included a net increase in Shanghai of 105 kt over the period. LME stocks rose over the January to April period to close 50 kt above the December 2019 level. LME stocks represent 16 per cent of the global total with the bulk of the metal held in Asian and Dutch warehouses. Demand is measured on an apparent basis and it is likely that the full effects of national lockdowns have not been fully reflected in the trade statistics.

Global refined production rose by 2.5 per cent and demand was 0.7 per cent higher than the levels recorded one year earlier. Japanese apparent demand was, at 167 kt, 6 per cent below the equivalent total for January to April 2019.

World demand was 28 kt higher than for January to April 2019. Chinese apparent demand was 2046 kt which is 46 per cent of the global total. No allowance is made in the consumption calculation for unreported stock changes.

In April 2020 slab zinc production was 1076.4 kt and demand 1130.5 kt.

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Posted By : Yogender Pancholi on Tue, 30 Jun 2020
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