World Bureau of Metal Statistics has reported that the lead markets were in surplus of 14200 tonnes in 2012. This followed a deficit of 46600 tonnes in 2011. Lead stocks were 34300 tonnes higher from the end of 2011. Lead markets production was 5.27 million tonnes, was up 12.7% in 2012. Meanwhile, refined lead production was 10.48 million tonnes both from primary and secondary sources; the production was 1.1% higher than the previous year.
Refined lead production was 900900 tonnes in December 2012. Refined usage of Lead grew by 83000 tonnes. Apparent consumption in China was 4.67 million tonnes in 2012, up by 10000 tonnes from 2011. China consumed 45% of global total. Refined Lead consumption was 939500 tonnes in December 2012.
Meanwhile, LME three month forward prices were trading at $ 2333 per tonne, down $ 47 per tonne. MCX Lead was trading at Rs 125.8 per kg, down 0.75%.
Source by Commodity Insights
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