SMM2 March 25: non-ferrous metals market rose across the board in the morning. By midday, international copper rose 4.53%, Shanghai copper rose 4.46%, Shanghai aluminum rose 5.23%, Shanghai lead rose 1.59%, Shanghai zinc rose 1.93%, Shanghai nickel rose 3.15%, Shanghai tin rose 2.74%. Yesterday, after a continuous rally, non-ferrous metals once collectively pulled back, but the range was very limited, and most metals in the night market quickly regained their rising trend and continued to show strength. In the morning, a large area of non-ferrous plates floated red, and the general rise of non-ferrous metals was still due to the warmth of the macro atmosphere, the Federal Reserve continued to release dove signals overnight, risk sentiment continued to strengthen, inflation expectations continued to rise, and the dollar index fell slightly. Metal market support is still strong.
In terms of black series, thread rose 3.54%, hot coil rose 2.5%, coking coal rose 3.23%, coke 2.66%, iron ore 2.96%, stainless steel 2.12%, rebar, Hangzhou thread accumulation rate before and after the Spring Festival this year is faster than in previous years, the current absolute value of inventory has exceeded the peak inventory in previous years. Hangzhou thread inventory has reached a new high, which has undoubtedly brought great pressure on the Hangzhou market. At the same time, due to the sharp rise in spot prices after the end of the year, winter storage traders are more profitable, and there is a strong willingness to ship goods to cash in profits. as a result, the performance of spot prices is inferior to that of futures in the near future. Merchants have a strong desire to ship goods in the short term, but the demand is not strong enough, which may be a drag on spot prices. Looking back, terminal demand is expected to return to normal levels in March, when inventories are expected to begin to fall, and the recent warming of the macro environment may be expected to promote a new round of price increases.
Last period crude oil rose 3.45%, according to OPEC sources, in view of the recent rebound in oil prices, OPEC oil producers will consider moderately relaxing production restrictions from April. But some people suggest that because the fight against the epidemic may be thwarted again, they hope to keep production unchanged for the time being. OPEC cut crude oil production by a record 9.7 million barrels a day last year as demand plummeted as a result of the epidemic. As of February, it still cut production by 7.125 million b / d, equivalent to 7 per cent of global demand.
In terms of precious metals, Shanghai gold fell 0.89%, Shanghai silver rose 1.35%, and spot gold fell slightly on Thursday as rising US bond yields undermined the attractiveness of gold, but gold prices fell limited, affected by a weaker dollar and dovish comments from Federal Reserve Chairman Colin Powell. Powell testified before the US House Financial Services Committee and continued to add weight to the Fed's commitment. The Fed promises to get the economy back to full employment without worrying about inflation unless prices start to rise in a sustained and disturbing manner.
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[stock market performance this morning]
On the market, the real estate plate rose and stopped, the liquor plate warmed up slightly, the prefix stocks were active, and banks, brokerages and other financial stocks strengthened collectively. On the whole, the capital is biased towards low price-to-earnings ratio low stocks, and the money-making effect is gradually improving. From the disk point of view, the third generation of semiconductors, photoresist, cloud games plate led the rise, liquor, paper, non-ferrous plate led the decline.
