January 13, 2025: The global supply of refined lead metal continued to rise in 2024, with total reported stock levels increasing by 60kt over the year, according to latest analysis.

The Lisbon-based International Lead and Zinc Study Group said in provisional data released in December that world refined lead metal was in surplus by 21kt during the first 10 months of 2024.

The figures were in line with figures published last September, when the ILZSG forecast supply would exceed demand by 63,000 tonnes in the year, leading to a potential surplus of 121kt in 2025.

Meanwhile world lead mine production rose in Australia, Bolivia, Bulgaria, Kazakhstan, Peru, Sweden and the US over the past year, the group said.

These increases were partially balanced by reductions in Ireland, Portugal and South Africa resulting in an overall rise worldwide of 1.5%.

A 1.7% fall in global lead metal production was mainly a result of lower output in China and Canada, where scheduled maintenance at Teck Resources’ Trail operations impacted production during the second quarter.

However, in Australia, India, Japan and South Korea output was higher than in the first 10 months of 2023. European production rose by 2.5%, mainly as a consequence of increases in Bulgaria, Germany and Italy that were partially offset by declines in Poland and Sweden.

Rises in refined lead metal usage in India, South Korea and Vietnam were more than balanced by falls in Europe, Turkey and the US, resulting in an overall decrease globally of 1.6%.

Chinese imports of lead contained in lead concentrates increased by 7.5% to 590kt. Net imports of refined lead metal totalled 118kt, compared to net exports of 153kt in the first 10 months of 2023.