Lead market seen in 111,000-ton deficit in January-April

The global lead market recorded a deficit of 111,000 metric tons during the first four months of 2007, compared with a surplus of 44,000 tons in the same period a year earlier, the World Bureau of Metal Statistics said Wednesday.

Reported stocks fell by 1,000 tons during the quarter to 277,000 tons. LME stocks rose by 9,000 tons during April and stood at 42,500 tons at the end of the month.

No allowance is made in the consumption calculation for unreported stock changes.

Lead mine production was 1.332 tons with Chinese output dominating the global supply. Refined production from both primary and secondary sources was down 1% from the equivalent figure recorded a year earlier.

Global demand for lead was at 2.738 million tons, about 5% higher than the first four months of 2006, with increases recorded in many parts of Asia, WBMS said.

China consumed 785,000 tons of lead in January to April, reaching a new monthly high in April of 213,000 tons.

In April, refined lead production was 702,000 tons and consumption was 710,500 tons




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