LIVE FUTURES REPORT 22/09: SHFE lead stocks drop 18.7%, copper inventories fall for fifth week

Lead inventories at Shanghai Futures Exchange-approved warehouses dropped have 3,106 tonnes or 18.7% over the past week to 13,462 tonnes as of Friday September 22, the largest decrease among the SHFE-traded base metals.

September 22, 2017

By Echo Ma

Stocks at Minmetals Wuxi in Jiangsu province saw the largest decrease of 1,281 tonnes over the past week.

Copper inventories down more than 15%
SHFE copper stocks fell to 141,318 tonnes in the week ending September 22, down 25,429 tonnes or 15.3% on the previous week. The largest departures were of 11,399 tonnes from Shanggang Wuliu in Shanghai.

But the most-active copper contract for November dropped by 1.5% week on week to close at 49,630 yuan ($7,531) per tonne as of 3pm Beijing time on Friday.

Aluminium stocks up but other metals down
Aluminium inventories on the SHFE rose 7,122 tonnes or 1.3% week on week to 542,752 tonnes in the week to September 22, with the largest inventory increase of 3,903 tonnes at Shanghai warehouses.

Zinc stocks at SHFE-listed warehouses dropped 2,438 tonnes or 3.5% to 67,225 tonnes over the week, with 3,433 tonnes removed from Guangdong warehouses.

SHFE nickel inventories fell to 55,309 tonnes, down 4,629 tonnes or 7.7% from last Friday, with the biggest fall of 5,073 tonnes in Shanghai warehouses.

Tin stocks fell 524 tonnes or 4.9% on a weekly basis to 10,135 tonnes, with a decrease of 453 tonnes in Shanghai warehouses.