CORRECTED-Zinc market has 135,000 T surplus in Jan-July-ILZSG

Wed Sep 19, 2012 7:03am EDT

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(Corrects stocks/cons ratio figure for Jan. 2012 in the table and the
comparison month in second last paragraph to July, from June.)
    LONDON, Sept 19 (Reuters) - The global zinc market was in surplus by 135,000
tonnes in the first seven months of the year, a monthly bulletin from
Lisbon-based International Lead and Zinc Study Group (ILZSG) showed on
Wednesday.
    Global refined zinc use was 7.254 million tonnes in January to July, up from
7.221 million tonnes in the same period last year.
    World refined zinc output was 7.389 million tonnes, down from 7.495 million
tonnes a year earlier.

Latest ILZSG global data in thousand tonnes -
                         July '12  Jan '12  Jan-July '12  Jan-July '11
 Mine output (zinc
 content)                1,187.8   991.1    7,993         7,232
 Refined output          1,035.5   1,049.7  7,389         7,495
 Refined consumption     1,024.5   991.4    7,254         7,221
                         July '12  Jan '12  End '11
 Commercial stocks       1,929.0   1,848.7  1,812.0    
 Stocks/cons ratio(weeks)    8.2       8.0      7
 U.S.stockpile               7.7       7.7      8

    Additional data from ILZSG showed July producer stocks were 348,800 tonnes,
down from 351,400 tonnes in June. At the end of last year they were 363,000
tonnes.
    Commercial stocks comprise western producers, consumers (reported and
estimated), merchants and London Metal Exchange.

 (Reporting by Maytaal Angel; Editing by Alison Birrane)
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