IRSG’s latest production and consumption data suggest that the NR market surplus narrowed to 159,000 tonnes in the twelve months to March 2010, compared to a 227,000 tonnes surplus in the 2009 calendar year. Global NR stocks are estimated to have moved above 1.3 million tonnes on an annual moving average (AMA) basis in the first quarter of 2010.
SR market too staged a recovery in early 2010. SR production and consumption grew by around 5.5% in the year to March 2010, following declines of a similar magnitude in the 2009 calendar year.