The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Wednesday February 14, 2018.
SMM expects zinc social inventory in Shanghai, Guangdong and Tianjin to hit 200,000 mt after Chinese New Year, up by at least 20,000-30,000 mt during the week-long holiday.
China’s aluminium inventory after Chinese New Year may continue to go up to 2.1 million mt and the price of the lightweight metal is set to trade in a wider range, SMM believes.
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Tuesday February 13, 2018.
The operating rates at Chinese domestic zinc concentrate mines are expected to drop further in February, leaving smelters more reliant on imported materials.
The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Monday February 12, 2018.
China’s social inventory of refined aluminium hit record high at 1.81 million mt as of Monday February 12, according to SMM data.
Indonesia shipped 22 vessels, or 1.25 million wmt, of nickel ore to China in January, according to SMM research.
LME copper inventory added over 40,000 mt over the past two days to 336,225 mt as of Friday February 9.
The average production costs of aluminium in China amounted to 14,752 yuan/mt this week, up from 14,724 yuan/mt last week, according to SMM calculations.
China produced 2.32 million units of passenger cars in January, up 12.7% from the same month last year, according to data from China Passenger Car Association.
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