Silicon Metal Social Inventory Up 6,000 Mt on Week

The nickel ore inventory at Chinese ports dipped 142,000 wmt from a week earlier to 8.45 million wmt as of January 21.

SMM data showed that China's social inventories of aluminium across eight consumption areas dropped 23,000 mt on the week to 776,000 mt as of January 6.

SMM data showed that China's social inventories of aluminium across eight consumption areas rose 31,000 mt on the week to 1.01 million mt as of November 4.

The silicon metals prices skyrocketed in September and started to fall after the National Day holiday in October. The prices of oxygen-free 553# silicon basically lost all the gains in September, and the prices of high-grade silicon was relatively firm.

The social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin decreased by about 200 mt from October 22 and fell 7,200 mt from October 18 to 186,700 mt as of October 25.

The inventory of rebar across Chinese steel makers and social warehouses stood at 8.08 million mt as of October 21, down 204,500 mt or 2.5% from a week earlier. Stocks are down 1.99 million mt or 19.8% from a year earlier.

The social inventories of silicon metal across Huangpu port, Kunming city and Tianjin port increased 3,000 mt from the previous week to 58,000 mt as of Friday October 15.

This is a roundup of China's metals weekly inventory as of October 15.

The silicon metal prices surged broadly by over 120% in September from the previous month, with 553# silicon with oxygen leading the gains. As of September 30, 553# silicon with oxygen in east China stood at 59,000 yuan/mt, up 154% on the month. The short supply of spot amid extensive power rationing in Yunnan and Sichuan was the main reason for the short-term surge of prices. While the production costs also increased on the back of rising prices of raw materials such as clean coal, supporting the silicon metal prices as well.

Traders and downstream consumers in China’s silicon market held back from buying in May in anticipation of growing supply.