Silicon Metal Social Inventory Up 6,000 Mt on Week

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.

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.

Total zinc inventories across seven Chinese markets stood at 125,300 mt as of December 10, down 6,300 mt from December 6 and 4,800 mt from December 3.

This is a roundup of China's metals weekly inventory as of November 26.

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.

SMM data showed that China's social inventories of aluminium across eight consumption areas rose 70,000 mt on the week to 957,000 mt as of October 21.

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

As of Friday October 15, the copper inventory in the mainstream Chinese market fell 7,200 mt from Monday October 11 to 105,200 mt. The decrease was mainly contributed by Guangdong, Shanghai and Jiangsu, whose inventory fell 5,200 mt, 4,300 mt and 800 mt to 9,300 mt, 75,700 mt and 12,500 mt, respectively.

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.