Zinc social inventories inch up over weekend

SMM copper cathode inventories across major regions in China fell by 2,100 mt from last Friday to 156,300 mt as of Monday July 26.

Social inventories of primary aluminium ingots across eight consumption areas in China, including SHFE warrants, decreased 18,000 mt from last Thursday to 858,000 mt as of July 8.

SMM data showed that social inventories of refined zinc ingots across Shanghai, Tianjin, Guangdong, Jiangsu, Zhejiang, Shandong and Hebei decreased 12,100 mt in the week ended June 25 to 116,500 mt. The stocks fell 6,400 mt from Monday June 21.

Shanghai base metals basically went up in the overnight trading after an agreement was reached between democratic and republican parties on Biden’s 579 billion infrastructure plan. LME base metals mostly increased as well.

Shanghai base metals all went up on Wednesday night as the US June Markit PMI for manufacturing industry registered 62.6. LME base metals all rose as well.

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined 25,000 mt on the week to 1.12 million mt as of April 29, and Wuxi mainly contributed to the decline. 

SMM data showed that aluminium billet stocks across the five major consumption areas — Foshan, Wuxi, Huzhou, Changzhou and Nanchang — in China decreased 1.5% or 2,500 mt from a week ago to 162,800 mt as of Thursday April 22.

Social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, declined 45,000 mt on the week to 1.18 million mt as of April 15. Stocks fell 27,000 mt in Gongyi, 14,000 mt in Nanhai and 6,000 mt in Wuxi, but rose slightly in Hangzhou and Tianjin.  

Inventories of rebar across Chinese steelmakers and social warehouses stood at 13.74 million mt as of April 15, down 6.3% from a week ago. Stocks are down 14.7% from a year earlier.

Social inventories of silicon metal across Huangpu port, Kunming city and Tianjin port declined 4,000 mt from the prior week to 63,000 mt as of Friday March 12, SMM data showed.