Latest Update in the China Tin scrap Market

As of January 15, iron ore inventories across 35 ports tracked by SMM totaled 118.12 million mt, an increase of 1.22 million mt from the previous week and 3.72 million mt year-on-year. Daily average deliveries from the 35 ports decreased 52,000 mt on a weekly basis to 2.69 million mt this week.

SHFE nonferrous metals increased broadly on Friday January 15. Aluminium added 0.92%, lead advanced 0.4%, nickel firmed 1.19% and tin rose 0.35%, while copper edged down 0.09% and zinc shed 1.67%.

Operating rates across primary lead smelters in Henan, Hunan and Yunnan provinces lost 3.6 percentage points from the previous week to 54.1% in the week ended January 15, showed an SMM survey.

Operating rates across lead-acid battery producers in Jiangsu, Zhejiang, Jiangxi, Hubei and Hebei provinces remained unchanged at 74.36% in the week ended January 15.

Social inventories of silicon metal across Huangpu port, Kunming city and Tianjin port rose 3,000 mt to 83,000 mt as of Friday January 15, SMM data showed. 

Nickel ore inventories across all Chinese ports decreased 268,000 wmt from January 8 to 8.87 million wmt as of January 15, showed SMM data.

Inventories of refined nickel in the Shanghai bonded areas decreased 1,600 mt from a week ago and stood at 21,200 mt as of January 15, showed SMM data. 

Operating rates across licensed smelters of secondary lead in Jiangsu, Anhui, Henan and Guizhou averaged 47.8% in the week ended January 15, up 2.1 percentage points from the previous week, showed an SMM survey.