As of January 26, iron ore inventories across 35 ports tracked by SMM totaled 119.65 million mt, a decrease of 200,000 mt from the previous week but up 8.08 million mt year-on-year. Daily average deliveries from the 35 ports increased 34,000 mt on a weekly basis to 2.66 million mt this week.
SHFE nonferrous metals broadly fell on Friday February 26 as global markets are roiled by a sudden spike in bond yields, which sent investors fleeing highly valued segments of the market.
Operating rates across licensed smelters of secondary lead in Jiangsu, Anhui, Henan and Guizhou averaged 49.2% in the week, down 4.1 percentage points from the previous week, an SMM survey showed.
Inventories of refined nickel in the Shanghai bonded areas increased 800 mt from a week ago and stood at 18,400 mt as of February 26, showed SMM data.
Social inventories of silicon metal across Huangpu port, Kunming city and Tianjin port declined 5,000 mt from the prior week to 62,000 mt as of Friday February 26, SMM data showed.
SMM has more than 50 professional industry analysts in copper, aluminum, lead, zinc, nickel, tin and minor metals, and are committed to providing in-depth, professional, as well as timely reports and research.
Besides, over 80 steel professionals engaged in China's steel industry. They have been working on the weekly report China Steel Briefing, the monthly report China Steel PMI-Monthly, a survey of steel downstream.