Silicon Metal Social Inventory Fell 2,000 mt on Week

The social inventory of silicon metal across Huangpu port, Kunming city and Tianjin port increased 5,000 mt from the previous week to 87,000 mt as of Friday March 4.

LME zinc inventory kept falling after hitting a high of 209,175 mt in nearly two months and a half on December 14, 2021, and there is currently no signs that the inventory would stop falling.

SMM data showed that China's social inventories of aluminium across eight consumption areas added 31,000 mt on the week to 1.04 million mt as of November 18, mainly contributed by Wuxi, Gongyi and Shanghai.

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.

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

The Inventories of rebar across Chinese steelmakers and social warehouses stood at 8.28 million mt as of October 14, down 470,400 mt or 5.4% from a week earlier. Stocks are down 2.33 million mt or 22.0% from a year earlier.

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.

Offers of chemical-grade silicon dipped on Thursday May 17 as transactions were few

China's inventory of aluminium including SHFE warrants amounted to 2.231 million mt as of Thursday April 12, according to SMM data.