China’s copper cathode output shrank in July as some smelters conducted maintenance to deal with shortage of copper concentrate.
SHFE nonferrous metals, except for copper, cruised higher on Friday August 7, but ferrous metals all declined.
Social inventories of lead ingots across Shanghai, Guangdong, Zhejiang, Jiangsu and Tianjin shrank 900 mt from a week ago to 36,800 mt as of August 7, showed SMM data.
Nickel ore inventories across all Chinese ports declined 154,000 wmt from Aug 31 to 8.19 million wmt as of July 31, showed SMM data.
Operating rates across primary lead smelters in Jiangsu, Zhejiang, Jiangxi, Hubei, and Hebei provinces averaged 72.1% in the week ended Aug 7, up 2.47 percentage point from the previous week, showed an SMM survey.
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