December 20, 2023: The worldwide supply of refined lead metal exceeded demand by 41 kilo tonnes during the first 10 months of this year, according to latest provisional data released on December 18 by the International Lead and Zinc Study Group.

The Lisbon-based group said total reported stock levels increased by 129kt.

A 2.8% rise in global lead metal production was mainly a result of higher output in Australia, China, Germany, India, Taiwan and the United Arab Emirates, the group said.

However, output fell in Bulgaria, Italy, Japan, South Korea and the UK compared to the same period in 2022.

Global lead metal usage rose by 0.3%, primarily influenced by increases in Europe, China, India, Mexico and Taiwan that were largely offset by falls in South Korea, Turkey and the US.

Meanwhile, Chinese imports of lead contained in lead concentrates increased by 22% to 562kt. Net exports of refined lead metal totalled 153kt, which the group said was an increase of 60kt compared to the first 10 months of 2022.

World lead mine production rose in Bolivia, Kazakhstan, South Africa and Australia, where Galena successfully commissioned its majority-owned 95,000 tonne-per-year Abra mine in January, according to the group.

These increases were partially balanced by reductions in Europe, Mexico and the US, resulting in an overall worldwide rise of 1.5%.