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.
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.