[SMM afternoon Review] Nonferrous generally fell, Shanghai Nickel only floated red and black, rose more than 1%, gold and silver plummeted.

SMM6 March 18: most non-ferrous metals are green in the morning. By midday, international copper fell 2.45%, Shanghai copper fell 2.24%, Shanghai aluminum fell 1.17%, Shanghai lead fell 0.85%, Shanghai zinc fell 2.34%, Shanghai nickel rose 0.63%, Shanghai tin fell 1.38%, copper, the Federal Reserve interest rate resolution landed yesterday, Fed officials unexpectedly hinted that they would raise interest rates earlier than expected and end the emergency bond purchase program. Market sentiment has been suppressed. Overnight, the Federal Reserve raised the excess reserve ratio for reverse repos, the dollar index jumped strongly and copper prices fell sharply under pressure. Domestically, the NDRC continues to talk about controlling commodity prices, the dumping policy is carried out in an orderly manner, and copper prices continue to be suppressed. Spot, after the Dragon Boat Festival, the disk continued to decline, the spot market activity significantly increased. Downstream for several consecutive days of buying force to maintain a positive attitude, market trading remains active, inventory in Shanghai is still in the de-stocking stage, supporting the seller's price, the rising water center of gravity is expected to continue to rise.

In terms of black, thread rose 1.96%, hot coil rose 2.58%, coking coal rose 1.69%, coke rose 1.14%, iron ore rose 1.78%, and stainless steel rose 1.12%. In terms of threads, the sentiment in the capital market obviously picked up yesterday, spot prices stopped falling and stabilized, and the overall deal was OK. There has been no major change in the fundamentals of supply and demand. In terms of inventory, the national total inventory of building materials increased by + 3.8% month-on-month this week; in-plant inventory increased by + 5.4%; and social inventory increased by + 3.0%. The inventory cycle will begin. Under the pattern of weak supply and demand, the upward power of steel price is insufficient and the transaction support is weak and difficult to sustain, the downward space is limited and the bottom support is strong, and the reverse pumping height is also limited. It is expected that short-term steel prices will continue to maintain the range shock operation.

Crude oil fell 3.55% in the previous period, and oil prices fell for the second day in a row, as the dollar strengthened and the British epidemic rebounded, but the Iranian nuclear talks were deadlocked because of the Iranian general election, which limited the decline in oil prices.

In terms of precious metals, Shanghai gold fell 1.67% and Shanghai silver fell 3.57%. International gold prices rose slightly on Friday, but are expected to be the worst week since March 2020, after hawkish information from the Federal Reserve / FED on monetary policy supported the dollar and bonds, weakening gold's attractiveness as a hedge against inflation. The dollar index hit a two-month high and is set for its best week in nearly nine months, making gold more expensive for holders of other currencies.

Close by noon

"check the metal futures market.