September 9, 2024: World refined lead metal supply exceeded demand by 15kt during the first half of this year, according to preliminary data released by the International Lead and Zinc Study Group on August 21.

Total reported inventories increased by 93kt, according to latest data released by the Lisbon-based International Lead and Zinc Study Group.

Global lead mine production rose by 0.6% to nearly 2.2kt, which was primarily a result of increases in Australia, Kazakhstan, Peru and Sweden that were partially balanced by reductions in Ireland, Portugal and the US.

Meanwhile, global lead metal production dipped by just under 1% to 6.4kt, which ILZSG said was mainly a result of lower output in China and Canada — where scheduled maintenance hit production in the second quarter at Teck Resources’ Trail Operations zinc and lead smelting and refining complex.

However, lead metal production in Australia, India, Japan and South Korea was higher than in the first half of 2023.

European production remained unchanged, as increases in Bulgaria and Italy were offset by falls in Germany, Poland and Sweden.

According to ILZSG, increases in refined lead metal usage in China, India, Japan and the Republic of Korea were more than balanced by falls in Europe and the US, resulting in an overall decrease worldwide of 1.7%.

Chinese imports of lead contained in lead concentrates fell by 10% to 285kt, while net exports of refined lead metal totalled 14kt — a decline of 57kt compared to the first half-year of 2023.

Batteries International reported last month that overall lead metal production by Glencore in the first half of this year was down 21% — due in part to European smelter outages.

The mining group said the drop of 26,500 tonnes, compared to the same period a year ago, reflected a temporary furnace shutdown at its Nordenham Metall lead facility in Germany and the continued “care and maintenance” of its Portovesme lead line in Sardinia.