The World Bureau of Metal Statistics announced that the lead market recorded a deficit of 94 kt in January to July 2022 which follows a deficit of 82.8 kt recorded in the whole of 2021. Total stocks at the end of July were 25.4 kt lower than at the end of 2021. No allowance is made in the consumption calculation for unreported stock changes. Demand is measured on an apparent basis, and it is likely that the full effects of national lockdowns will have distorted the trade statistics.World refined production during January to July 2022 from both primary and secondary sources was 8384.3 kt which was 2.1 per cent higher than in the comparable months of 2021. Chinese apparent demand was estimated at 4168.0 kt which was almost the same as the comparable period in 2021 and represented about 49 per cent of the global total. For the USA, apparent demand has decreased by 23 kt for January to July 2022 compared to the same months of 2021.July metal balances for refined lead recorded production at 1203.0 kt and demand at 1187.3 kt.