LIVE FUTURES REPORT 15/12: SHFE tin stocks fall 16% w-o-w; lead inventories rise over 11%

Deliverable tin stocks at Shanghai Futures Exchange-approved warehouses dropped by 1,214 tonnes or 16.3% over the past week to 6,214 tonnes as of Friday December 15, the largest decline among the base metals complex.

Destocking activities increased this week as the year-end is approaching and following the sharp price falls,” an analyst in Shanghai said.

The SHFE’s most-traded January tin contract closed at 134,390 yuan ($20,326) per tonne on Friday, down 4,840 yuan from a week earlier. Meanwhile, the spot price fell by 4,250 yuan to a range of 135,500-137,000 yuan per tonne in the same comparison.

Nanchu in Guangdong saw the most stock leave its sheds this week with 450 tonnes.

SHFE lead stocks climb 11.8%

  • SHFE lead stocks increased by 11.8% or 4,617 tonnes week on week to 43,671 tonnes.
  • The International Lead and Zinc Study Group reported that both the global refined zinc and lead markets were in deep deficits in the first 10 months of the year.
  • The SHFE’s most-active January lead contract closed at 18,980 yuan per tonne on Friday, up by 2.3% or 430 from the prior week.

Aluminium, nickel, zinc up; copper down

  • SHFE copper stocks fell by 16,016 tonnes or 10.1% over the past week to 142,129 tonnes.
  • SHFE aluminium stocks rose by 21,573 tonnes or 3% over the past week to stand at 736,389 tonnes.
  • SHFE nickel stocks decreased by 1,481 tonnes or 3.6% to 39,625 tonnes over the past week.
  • Zinc stocks were up by 4,789 tonnes or 7.3% from a week ago to 70,561 tonnes.
What to read next
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
The current shortage of some higher purity grades of aluminium, such as P0610, and the robust demand for units should maintain the higher differential to prices for P1020-grade aluminium, market sources told Fastmarkets on Monday January 30
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.