As China returns from the week long CNY holidays in end-February, SMM tracks down the inventory and operating rate across smelters and producers of the metals industry. With less travel in China this CNY, we will look to give an early read on whether demand activity is coming back quicker than usual. We woll also discuss the changes in the demand/ supply fundamentals of the Chinese ferrous and non-ferrous metals markets after CNY, as well as providing a short-term outlook of various metals.