Nickel Pig Iron Output May Decrease in Inner Mongolia

Shanghai base metals traded mixed after opening on Thursday morning, as Fed failed to set a timeline for tapering asset purchase, and COVID-19 pandemic made a comeback. Meanwhile, their counterparts on LME mostly went up.

Shanghai base metals were mostly lower on Tuesday morning as investors awaited the release of China's trade data for June. Meanwhile, their counterparts on the LME also fell for the most part.

This is a roundup of China's metals weekly inventory as of July 9.

Recently, the Development and Reform Commission of Inner Mongolia Autonomous Region, in conjunction with the Industry and Information Technology Bureau and the Energy Bureau, drafted the Several Measures for Ensuring Energy Consumption Control Targets in the "14th Five-Year Plan" (draft for comments). 

Inventories of refined nickel in the Shanghai bonded areas fell this week, as shipments under bill of lading were delayed due to COVID-19 related lockdowns while there were flows from bonded areas to domestic markets.  SMM data showed that inventories of pure nickel in the Shanghai bonded areas stood at 17,900 mt as of Friday April 17, down from 18,600 mt a week earlier.

SHFE nonferrous metals, except for lead, closed higher on US-China trade thaw

NPI in China rose 4.82% from a month ago to a record high of 53,200 mt in Ni content in Aug

A roundup of China's base metals output in Jul 2019, from an SMM survey of major producers

Steady release of NPI new capacity will cap upward room in prices

A summary of China's base metals output in Jun