[SMM afternoon Review] the majority of non-ferrous green Shanghai Nickel led a 1% drop in black, gold and silver floating red across the board.

SMM6 March 8: most of the non-ferrous metals are green this morning. By midday, international copper fell 0.28%, Shanghai copper fell 0.32%, Shanghai aluminum fell 0.65%, Shanghai lead rose 0.37%, Shanghai zinc rose 0.04%, Shanghai nickel fell 1.01%, and Shanghai tin fell 0.04%. As for aluminum, according to the approval reply of the Circular on further expanding the orderly Power consumption scale of Yunnan Electroweb issued by the Yunnan Provincial Energy Bureau on June 6, the scale of orderly power consumption is specifically as follows: from May 10 to 31, the maximum off-peak power is no more than 6 million kilowatts; in early June, the maximum off-peak power gradually decreased to no more than 4 million kilowatts; in mid-June, the maximum off-peak power gradually decreased to no more than 2 million kilowatts; and the province's orderly power consumption was suspended before the end of June. The proportion of green aluminum participating in orderly power consumption is no more than 25%.

"Yunnan stops the off-peak and orderly use of electricity before the end of June, and the electricity limit for green aluminum does not exceed 25%.

In terms of black, threads fell 2.43%, hot rolls fell 2.16%, coking coal fell 1.3%, coke 0.51%, iron ore 1.86%, stainless steel 1.4%, hot rolls. In the short term, the Fed's interest rate hike had a great impact on market sentiment; the export data of steel mills weakened sharply in May; Jiangsu's production restriction policy was not as expected; real estate regulation and control policies were constantly introduced, and real estate enterprises had difficulties in funding. A series of negative factors such as the rainy season and the high temperature season are still putting pressure on the market, the action force on the volume price is still weakening, and the follow-up may continue to shock operation.

The previous period of crude oil fell 1.83%, and the spread between spot crude prices in the United States was mostly weak on Monday, as the spread between WTI crude and Brent crude was still close to its narrowest level this year. As refinery maintenance limited the consumption of raw materials, China's crude oil imports fell 14.6% in May from a high base a year earlier, and daily shipments reached the lowest level so far this year.

In terms of precious metals, Shanghai gold rose 0.6%, Shanghai silver rose 0.63%, and international gold prices hovered near the key level of $1900 an ounce on Tuesday, supported by falling bond yields. meanwhile, investors are waiting for US data later this week to measure inflationary pressures. The focus of market participants this week will be the US Consumer Price Index report, which is expected to provide more information about the Fed's recent policy decisions.

Close by noon

"check the metal futures market.