The trend of internal and external market diverges Shanghai Aluminum down more than 1% and the black line weakens [SMM market tracking]

Publicado: Mar 30, 2022 09:52 (GMT+8)
Fuente: SMM
[internal and external trend differentiation Shanghai Aluminum fell more than 1% black weakening] the US dollar fell slightly in early trading today, while crude oil rose slightly. Metal inner and outer disk trend differentiation, outer disk general rise, Lun aluminum, Lun zinc smoothly turned red, Lun aluminum led up by 0.86%, Lun zinc rose 0.72%, Lun copper, lun lead rose slightly. Lunxi fell slightly. The inner market generally fell, Shanghai Nickel continued to lead the decline by 2.75%, and Shanghai Aluminum fell 1.5%. Shanghai copper and zinc fell slightly. Shanghai lead and tin rose slightly. Black is weaker, stainless steel is up slightly, iron ore is down nearly 1%, and thread is down 0.78%. Hot rolls fell by more than 1%, Shuangjiao increased by more than 1%, coking coal by more than 1%, and coke by nearly 2%.

SMM3, March 30: the dollar continued to fall this morning as reports of progress in peace talks between Russia and Ukraine boosted the euro and reduced the dollar's safe-haven attractiveness. In terms of crude oil, both American oil and cloth oil rose slightly in early trading today, with the American Petroleum Institute (API) morning data saying that US crude oil and oil products inventories fell last week. Meanwhile, Kazakhstan's energy ministry said on Tuesday that the country's oil production would lose at least 1/5 a month after the storm damaged export facilities.

Metals in the inner market generally fell this morning, while Shanghai Nickel continued to lead the decline in non-ferrous plates with a decline of 2.75%, while Shanghai Aluminum fell 1.5%. Shanghai copper and zinc fell slightly by 0.14% and 0.21%. Only Shanghai lead and Shanghai tin rose slightly, with Shanghai lead up 0.26% and Shanghai tin up 0.33%.

In terms of black, stainless steel night trading stopped falling and continued to rise in morning trading, up 0.37%. The decline in iron ore was narrower than overnight, falling slightly by 0.81%. The thread fell slightly by 0.78% and the hot coil fell by 1.02%. Double coke continued to rise and the increase continued to expand, with coking coal up 1.06% and coke up 1.96%.

The outer disk metal performed even better, most of which rose. Among them, aluminum and zinc turned red more smoothly than overnight, with aluminum leading the way with an increase of 0.86%, followed by a rise of 0.72%. Lun copper rose slightly by 0.43%, while lun lead rose slightly by 0.02%. Only Lunxi slightly dropped 0.01 floating green.

As of 9:30

"Click on the trend of metal futures

Summary of SMM Copper Morning meeting: the probability of raising interest rates by 50 basis points in May will rise one after another, and the geopolitical situation supports the sustained high volatility of copper prices.

On March 29, the monthly contract of electrolytic copper in Shanghai was quoted at 340 to 450 yuan / ton, with an average price of 395 yuan / ton, up 140 yuan / ton over the previous day. In the last three trading days of March, the epidemic in Shanghai was serious, buyers could not pick up the goods under the closure of the city, logistics was blocked, and the circulation was restrained, while the cost of capital and warehousing cost made the holder intend to raise the water price to ship the goods. "View details

"Click to view the price of SMM copper products

Summary of SMM Aluminium Morning meeting: the situation in Russia and Ukraine is favorable and the overseas driving force weakens. Aluminum falls overnight.

Summary: on the supply side, the resumption of domestic electrolytic aluminum production has been accelerated, but the output in the first quarter is difficult to exceed the level of the same period last year, and the epidemic still restricts the transportation of aluminum ingots in some areas. On the demand side, sudden outbreaks in many places in China interfere with downstream construction, and aluminum storage slows down. In the short term, the small accumulation of domestic aluminum social inventory and the epidemic situation are bad for aluminum prices, Ukraine and Russia Bureau. "check details

"Click to view the price of SMM aluminum products

Minutes of SMM lead morning meeting: lead ingots go to the warehouse and spot discount to hedge the short-term rise in lead prices may slow down

The problem of energy supply continues to ferment, boosting lead prices to fluctuate upward, while the impact of the domestic epidemic remains. "View details

"Click to view the price of SMM lead products

Summary of SMM Zinc Morning meeting: the situation in Russia and Ukraine eased slightly and the trend of zinc price was weak.

On the macro level, boosted by the negotiations between Russia and Ukraine, market sentiment moderated slightly, and zinc prices fluctuated slightly. "View details

"Click to view the price of SMM zinc products.

SMM Tin Morning News: the relationship between supply and demand dominates the trend of tin prices to maintain horizontal trading

The price trend of Shanghai and tin remains horizontal, and the movement of funds in and out is relatively small. In terms of fundamentals, domestic warehouse receipt inventory is flat and stable, while overseas inventory is slightly removed. The spot price fluctuates less than the futures price, and the mainstream transaction price is still under the integer mark of 350000 yuan / ton. On the market trend, after the opening of the night trading yesterday, Huxi was slightly affected by the overall weak situation of the market, but then. "Click to view details

"Click to view the price of SMM tin products

Summary of SMM Nickel Morning meeting: overnight Shanghai Nickel weak shock fundamental demand is expected to weaken

Overnight nickel weak shock, funds continue to leave, Shanghai nickel return to fundamentals, or short-term lack of upward momentum. On the supply side, the current Shanghai nickel disk fluctuates greatly, and the sharp rise and fall in the spot price of pure nickel leads to more cautious procurement in the lower reaches. Long-term import losses have led to the trend of scarcity in the nickel bean, Sumitomo and Norwegian nickel markets. In terms of nickel pig iron, due to the downward trend of Shanghai nickel disk yesterday. "View details

"Click to view the price of SMM nickel products

Summary of SMM Steel Morning meeting: the cost of steel is strongly supported because of the continuous obstruction in road transportation.

On March 29, the period snail range fluctuated, the spot quotation was stable and strong, and the transaction was generally weak. At present, the development of the domestic epidemic situation has not been significantly improved, and the situation in East China, Jiangsu, Zhejiang, Shanghai, Northeast and North China is still relatively grim, road transport control has become stricter, and the performance of production and consumption has been seriously hindered. But at present, the domestic building materials inventory and output are at a low level compared with the same period last year, followed by strong cost support and superposition. "View details

"Click to view the price of SMM steel products.

Declaración de Fuente de Datos: Excepto la información disponible públicamente, todos los demás datos son procesados por SMM basándose en información pública, comunicación de mercado y confiando en el modelo de base de datos interna de SMM. Son solo para referencia y no constituyen recomendaciones para la toma de decisiones.

Para cualquier consulta o para obtener más información, por favor contacte: lemonzhao@smm.cn
Para más información sobre cómo acceder a nuestros informes de investigación, contacte con:service.en@smm.cn
Noticias relacionadas
La producción de Blanket cae mientras Caledonia recorta sus previsiones para 2026
hace 5 horas
La producción de Blanket cae mientras Caledonia recorta sus previsiones para 2026
Leer más
La producción de Blanket cae mientras Caledonia recorta sus previsiones para 2026
La producción de Blanket cae mientras Caledonia recorta sus previsiones para 2026
[SMM Gold Flash] Caledonia Mining anunció que la mina Blanket en Zimbabue produjo 17.030 onzas en el tercer trimestre de 2026, un 10,9% menos que las 19.106 onzas del año anterior, mientras que la producción de nueve meses cayó a 49.158 onzas desde 58.846 onzas. La empresa atribuyó el déficit del trimestre a una capacidad insuficiente de aire comprimido en las zonas más profundas de alta ley y a problemas de puesta en marcha que dejaron unas 1.100 onzas de oro libre retenidas temporalmente en la planta. Redujo la guía de producción para 2026 a 69.000–72.500 onzas desde 72.000–76.500 onzas. La interrupción aumenta la presión sobre los costes unitarios a corto plazo: Caledonia elevó la guía de coste en mina a 1.700–1.900 US$/onza y la guía de AISC a 2.650–2.850 US$/onza. Dos de los cuatro nuevos compresores ya se habían desplegado para el 9 de octubre, y la dirección espera recuperar el oro retenido a partir de mediados de octubre una vez que se ponga en marcha la capacidad adicional de elución. Esas mejoras del cuarto trimestre siguen siendo previsiones; el hecho verificado es la menor producción del tercer trimestre y la guía revisada, no una recuperación completa de la producción.
hace 5 horas
Etiopía inaugura su primera refinería nacional de metales preciosos
hace 7 horas
Etiopía inaugura su primera refinería nacional de metales preciosos
Leer más
Etiopía inaugura su primera refinería nacional de metales preciosos
Etiopía inaugura su primera refinería nacional de metales preciosos
[SMM Gold Flash] Etiopía inauguró su primera Refinería Nacional de Metales Preciosos en la Zona Económica Especial de Bole Lemi el 10 de octubre. La instalación es una alianza entre la estatal Ethiopian Investment Holdings y Sam Precious Metals; Reuters cifró la inversión inicial en 50 millones de dólares. La Oficina del Primer Ministro señaló que la refinería está diseñada para ensayar, refinar y fundir oro, y fabricar lingotes de oro y plata, con una capacidad anunciada a plena carga de más de 600 toneladas de metales preciosos al año. La puesta en marcha brinda a Etiopía una vía nacional para refinar oro hasta convertirlo en lingotes listos para la exportación y, potencialmente, atender a productores vecinos, lo que favorece la trazabilidad y retiene más valor del procesamiento en África. Sin embargo, la cifra de 600 toneladas corresponde a la capacidad de diseño para metales preciosos —no a una producción confirmada de oro— y ni el gobierno ni el operador revelaron el rendimiento actual, la utilización ni los compromisos de suministro. Por lo tanto, la inauguración establece la capacidad de refinado; no demuestra que la planta ya esté operando a su capacidad nominal.
hace 7 horas
Sexto déficit consecutivo de plata: ¡la escasez de suministro crece a 46 millones de onzas!
hace 8 horas
Sexto déficit consecutivo de plata: ¡la escasez de suministro crece a 46 millones de onzas!
Leer más
Sexto déficit consecutivo de plata: ¡la escasez de suministro crece a 46 millones de onzas!
Sexto déficit consecutivo de plata: ¡la escasez de suministro crece a 46 millones de onzas!
hace 8 horas