[SMM thread weekly carding] on the way to price increase, take a break.

As of April 15 Friday, SMM China copper inventory across major markets in China added 4,000 mt from Monday April 11 to 139,300 mt, down slightly by 1,000 mt from last Friday. The weekly inventory dropped again after a short increase last week. Compared with the domestic inventory recorded on Monday, the local stocks all added except for Shanghai during this period.

As of Friday, April 8, SMM copper inventory across mainstream regions in the country achieved the first weekly rise since March 4, with an increase of 3400 mt to 140300 mt compared with Wednesday April 6, and a slight increase of 2600 mt compared with last Friday.

Ganfeng Lithium announced that the Company and its partner Mineral Resources Limited have agreed to upgrade the ore treatment capacity of the Mt Marion lithium spodumene project of the joint venture company RIM.

The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin dropped 3,200 mt from Friday March 11 and rose 9,800 mt from Monday March 7 to 119,000 mt as of March 14.

China’s lithium carbonate output was 18,609 mt in February, a month-on-month decrease of 2% but a year-on-year increase of 51%.

According to SMM survey, the operating rates of magnesium powder plants were suppressed under the impact of Beijing Winter Olympics. Some plants in Tianjin and Shanxi cut the production, and the overall output declined by 30%.

Steel prices ushered in a “good start” in the first week post the Chinese New Year (CNY) holiday amid optimistic sentiment.

On the supply side, the recent Winter Olympics-oriented production restrictions have been issued one after another.

The output of cobalt sulphate in January will be about 5,900 mt in metal content, and the output of cobalt chloride will stand at 4,400 mt in metal content.

The entire tin industry chain participants will gradually be closed for CNY holiday as the festival is already around the corner. Meanwhile, the tin supply and demand have remained weak.