Latest Update in the China Chromium Market

This is a roundup of China's metals weekly inventory as of July 23.

SHFE nonferrous metals all went up today, amid the dovish statement by the European Central Bank president, the high US jobless claims, and the high July PMI in Eurozone.

Operating rates across lead-acid battery producers in Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei provinces stood largely flat at 69.41% on the week as of Friday July 23.

Social inventories of silicon metal across Huangpu port, Kunming city and Tianjin port rose 4,000 mt from the previous week to 40,000 mt as of Friday July 23.

As of July 23, iron ore inventories across 35 ports tracked by SMM totalled 119.95 million mt, up 2.5 million mt from the previous week and up 13.08 million mt year-on-year. Daily average deliveries from the 35 ports increased 93,000 mt on a weekly basis to 2.62 million mt last week.

SMM data showed that the stocks fell 6,900 mt from the prior week to 428,600 mt as of Friday July 23.

Nickel ore inventories across all Chinese ports increased 325,000 wmt from July 16 to 5.66 million wmt as of July 23, showed SMM data.

Inventories of refined nickel in the Shanghai bonded areas emained unchanged from a week ago and stood at 10,700 mt as of July 23, showed SMM data.