|
The world refined lead metal market is expected to show a small surplus of 30,000 mt in 2008, the International Lead and Zinc Study Group said Monday,adding that it "expects an even closer balance between supply and demand in 2009." Global refined lead metal production is forecast to rise by 6.8% to 8.7million mt in 2008 and by 3.8% to 9 million mt in 2009, the ILZSG said, addingthat increases are forecast in a number of countries including Canada, China,Kazakhstan, Malaysia, the Republic of Korea, the UK and the US. Global demand for refined lead metal is forecast to rise by 5.7% to 8.65million mt in 2008 and by a further 4% to 8.99 million mt in 2009, the ILZSGsaid, adding that this rise would be mainly driven by further forecast growthin China of 19.1% in 2008 and 9.5% in 2009. In the US, demand is expected to increase by 1.7% in 2008 and 1.3% in2009, while rises are also anticipated in India and Indonesia. A forecast 2.1%decline in Europe in 2008 "will result in usage falling to its lowest levelsince 1994," the ILZSG said, adding that demand in the region in 2009 isexpected to fall by a further 1.4%. Global lead mine output is forecast to increase by 7.5% this year to 3.88million mt and by 2.2% in 2009 to 3.97 million mt. In 2008, the largestproduction increases will be in Bolivia, Canada, China, India and the RussianFederation, the ILZSG said. Further rises are anticipated in Bolivia, China and the Russian
Federation in 2009 together with a significant expansion in Mexico, largely influenced by the opening of Goldcorp\'s Pensaquito mine, it added, but noted that these increases would be partially offset by reductions in Australia and Poland.
|
