SMM Weekly Rebar Stocks in Hangzhou Grow 5.08% WoW

According to data released by the London Metal Exchange (LME), LME aluminium  inventories fell back after climbing to a two-month high in of 573,575 mt on April 19.

This week, total supply in Guangdong will grow. Many smelters will deliver cargoes to warehouses as the delivery of the SHFE May copper contract nears, and customs clearance will also increase after the reopening of the import window. Downstream consumption will improve due to lower copper prices.

This is a roundup of China's metals weekly inventory as of May 12.

On April 28, LME nickel stocks fell by 114 mt, mainly in warehouses in Singapore and Kaohsiung. Among them, 90 mt declines were seen in Kaohsiung, and 24 mt declines were reported in Rotterdam, totaling 114 mt.

Copper inventories in the domestic bonded zone increased 2,900 mt from April 21 as of Friday April 28, and stood at 158,600 mt, according to the latest SMM survey.

Compared with March 10, the social inventory and bonded zone inventory of pure nickel declined 18.63% and 15.69% MoM respectively as of April 7.

As of September 30, the social inventory of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin was 66,000 mt, down 11,700 mt from last Friday (September 23) and 11,700 mt from Monday (September 26).

SHANGHAI, Sep 29 (SMM) - Aluminium ingot: The aluminium ingot social inventories across China’s eight major markets totalled 619,000 mt as of September 29, a drop of 47,000 mt from a week ago and 33,000 mt from this Monday September 26.

Pure nickel inventory in six regions across China dropped 295 mt to 7,397 mt last week.

SMM data showed that China’s social inventories of aluminium billet across five major consumption areas fell 6,200 mt on the week to 124,400 mt as of August 26, mainly due to the decline in Foshan, Wuxi and Nanchang.