Silicon Metal Social Inventories across China’s Three Major Markets Extend Growth, Driven by Significant Arrivals in Kunming

SHANGHAI, Feb 3 (SMM) - Silicon metal social inventory across China’s three major markets added 2,000 mt from January 28, the first day after the Chinese New Year (CNY) holiday, to 127,000 mt as of February 3. The market used to enter a destocking cycle after the CNY holidays in previous years, but saw an exception this year. This is because the logistics has not yet fully recovered and the freight rate for some routes were around 50 yuan/mt higher than usual. Cargo inflows and outflows at Tianjin port and Huangpu port were largely stable this week. Kunming saw massive arriving shipments and limited cargo pick-up, pushing up the local inventory.