ILZSG：2025年1-10月全球铅市为供应过剩2.0万吨

Core Insights - The International Lead and Zinc Study Group (ILZSG) reported a global refined lead consumption of 1.1157 million tons in October 2025, an increase from 1.0692 million tons in September 2025 [1] - The global refined lead market experienced a supply shortage of 14,400 tons in October 2025, compared to a shortage of 14,100 tons in September 2025 [1] - For the period from January to October 2025, global refined lead consumption reached 10.933 million tons, up from 10.773 million tons in the same period of 2024 [1] Consumption and Production Data - Global refined lead production in October 2025 was 1.1013 million tons, an increase from 1.0551 million tons in September 2025 [1] - The total global refined lead production from January to October 2025 was 10.953 million tons, compared to 10.773 million tons in the same period of 2024 [1] - Global mine production of lead in October 2025 was 403,000 tons, up from 392,300 tons in September 2025 [1] Supply and Demand Balance - The global lead market showed a supply surplus of 20,000 tons from January to October 2025, contrasting with a balanced supply-demand situation in the same period of 2024 [1] - The supply-demand balance for October 2025 indicated a continued tightening in the market, with a notable shift from surplus to shortage [1]