International Lead and Zinc Study Group

Extract

The International Lead and Zinc Study Group held its second session, attended by delegates from 23 countries, in Geneva, September 12–15, 1960, according to the press. Mr. G. J. MacMahon (United Kingdom) presided over the session, the main purpose of which was reportedly to review the current statistical situation in lead and zinc. In regard to lead, the Study Group was stated to have observed that, after taking into account net trade with the centrally-planned economies, the balance between new supplies and demand showed a statistical surplus of lead metal of 21,000 tons for 1960 and 26,000 tons for 1961, with producers' stocks of lead metal at the very high level of 334,000 tons in July of the current year, divided about evenly between the United States and the rest of the world. New supplies, the report continued, appeared to be in better balance with anticipated demand than in recent years, but statistics, which as of the end of June showed metal stocks in the hands of producers to amount to 276,000 tons, did not indicate any immediate prospect of a significant change in stocks. With regard to zinc, it was announced that the steady rise in consumption was expected to continue in 1960 and 1961, and an even greater increase in production was forecast, although most. delegations were said to feel that action by the Study Group was not necessary, since stocks in many countries were at normal levels or below. In reply to concern expressed by some delegations about the continued existence of protective restrictions and about releases from noncommercial stocks, governments were urged not to impose additional barriers to trade in this field, and both governments and industries were urged to avoid any course which might frustrate the efforts being made to bring about a satisfactory balance between supply and demand.