zinc supply demand stats to nov08

The global zinc market was in surplus by 134,000 tons in the first 11 months of 2008, this according to the

International Lead and Zinc Study Group's latest monthly bulletin. Global refined zinc use rose to 10.624 million tons in the January to November period from 10.373 million tons a year earlier. World refined zinc output was 10.758 million tons, up from 10.362 million over the same period a year earlier. Producer stocks
rose to 337,000 tons, down from the 350,000 tons see a year ago.

The relevant ILZSG numbers are tabulated below:

Latest ILZSG Zinc data (in 000 MT)
Nov'08 Oct'08 Jan-Nov'08 Jan-Nov'07

Mine output (Zn Content) 956.9 980.3 10,663.0 10,118.0

Refined output 942.1 1,006.2 10,758.0 10,362.0

Refined consumption 925.9 984.7 10,624.0 10,373.0

Nov'08 Oct'08 End'07

Commercial stocks (west) 671.5 659.1 580.0

Stocks/cons ratio (weeks) 5.0 5.0 4.0

U.S.stockpile 7.3 7.3 8.0

Source: Reuters/ILZSG