Operating Rate of Copper Enterprises in October

Operating rates across licensed smelters of secondary lead in Jiangsu, Anhui, Henan and Guizhou stood at 61.11% this week, down 1.62% from the previous week, an SMM survey showed.

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.

SHFE copper prices rallied from lows last week. Prices edged up from 67,500 yuan/mt and tested the 70,000 yuan/mt mark on Friday. European and US stock markets plunged sharply on Tuesday evening amid market concerns over the Delta strain, while SHFE copper prices opened lower.

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.

SMM data showed that the stocks rose 4,200 mt from the prior week to 439,800 mt as of Friday July 9.

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

Operating rates across Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei averaged 55.21% in the week ended January 3

Operating rates across EAF steelmakers stood at 57% as of Oct 11, down 2 percentage points from the middle of Sep

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

The rate gained 1.23 percentage points from the prior week to stand at 53.06% in the week to Aug 16