This is a roundup of China's metals weekly inventory as of June 24.

Shanghai nonferrous metals closed all with losses as the market was in deep concerns over a potential economic recession after the release of major economic readings in the US and Europe. The preliminary US Markit manufacturing PMI for June was significantly less than expected, which refreshed the 23-month low, and the US 30-year mortgage rate hit its highest level since 2008; the number of first-time jobless claims last week was near a five-month high.

DCE iron ore was was shocked all the day.The main contract closed at 736,increased of 0.96%. Traders are not very enthusiastic about shipments, steel mills are mainly on the sidelines, and there are few transactions in the market.PBF at Shandong port dealt 805 yuan/mt,keep stable compare with yesterday.

As of June 24, port inventories of nickel ore in China increased by 283,000 wmt to 5.163 million wmt compared with last week.

Because of the macro factors, nickel prices in domestic and overseas markets continued to fall this week, and the imports of pure nickel spot remained profitable.

SHFE tin fell for five consecutive days this week, felling by 9.49% to 204,660 yuan/mt during the day, a new low since June 23, 2021. LME tin also declined and as of 16:23, LME fell by 8.55%.

Copper inventories in domestic bonded zones increased by 2,400 mt from last Friday June 17 to 303,600 mt as of June 24, according to SMM survey.

SHANGHAI, Jun 24 (SMM) - Recently, according to media reports, due to the shortage in the supply chain, Xiaopeng Motors suspended the reservation of P5 models from four European countries (Denmark, Netherlands, Norway, and Sweden), and the previous orders could not be delivered on time.

Total zinc inventories across seven major markets in China stood at 208,300 mt as of June 24, down 9,800 mt from June 20 and 15,300 mt from June 17.

Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased 8,300 mt from last Friday (June 17) and 9,400 mt from last Monday (June 20) to 84,800 mt as of June 24.