SMM Imported Copper Concentrate Index (weekly) reported $57.65/mt as of July 30, up $3.95/mt from July 23, a wider increase on the week. The Import Copper Concentrate Index (monthly) for July registered $51.1/mt, up $13.54/mt from June.

This is a roundup of China's metals weekly inventory as of July 30.

Shanghai nonferrous metals market closed the day with mixed performances as the second release of national reserves were under bidding.

The SHEF to LME nickel ratio rallied from low, and once hit 7.55 within the week.

Operating rates across primary lead smelters in Henan, Hunan and Yunnan provinces lost 1.35 percentage points from the previous week to 59.4% in the week ended July 30, showed an SMM survey.

As of July 30, iron ore inventories across 35 ports tracked by SMM totaled 120.7 million mt, up 740,000 mt from the previous week and up 14.77 million mt year-on-year. Daily average deliveries from the 35 ports decreased 174,000 mt on a weekly basis to 2.28 million mt last week. Inventory at two major ports in Tangshan grew 4.6% as heavy rain caused the daily average deliveries from ports to fall 12% to 317,000 mt and as arrivals continued to increase.

Operating rates across lead-acid battery producers in Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei provinces stood largely flat at 69.41% on the week as of Friday July 30.

Operating rates across licensed smelters of secondary lead in Jiangsu, Anhui, Henan and Guizhou averaged 64.45% in the week ended July 30, up 2.98 percentage points from the previous week, showed an SMM survey.

Copper inventories in domestic mainstream areas decreased on weakened de-stocking.

Nickel ore inventories across all Chinese ports increased 167,000 wmt from July 23 to 5.830 million wmt as of July 30, SMM data showed.