SMM data showed that iron ore stocks across 35 Chinese ports total 111.68 million mt as of February 28, down 1.56 million mt from a week ago and 21.12 million mt lower than a year ago.
Industrial activity levels outside of central China continues to improve as workers return from quarantine periods and logistics pressures eased.
The latest SMM survey showed that transportation in China has recovered to 60-90% of normal levels, except for Hubei province, the epicentre of the COVID-19 outbreak. However, the actual transport...
On the SHFE, zinc collapsed 3.9% to lead the losses across nonferrous metals, tin dropped 3.1%, nickel sank 2.8%, aluminium and copper fell 2.5%, and lead lost 1.2%.
Operating rates across primary lead smelters in Henan, Hunan and Yunnan provinces averaged 46.6% in the week ended February 28, up 2.8 percentage points from the prior week, showed an SMM survey.
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.