SMM7 March 1: today, the overall rise and fall of non-ferrous metals is mixed. By the end of the day, international copper rose 0.23%, Shanghai copper rose 0.01%, Shanghai aluminum fell 1.14%, Shanghai lead fell 0.57%, Shanghai zinc rose 0.98%, Shanghai nickel fell 1.72%, and Shanghai tin rose 0.2%. Among them, zinc has rebounded slightly recently. In terms of fundamentals, power cuts in refineries in Yunnan have ended one after another, enterprises have resumed production, domestic mines are relatively loose in the third quarter, and follow-up attention is paid to the inflow of imported mines in the fourth quarter. SMM believes that mainly because the inventory has not been completely transferred to the social treasury after the refinery resumes production, the amount of social treasury in various places is still low, and the market is more willing to purchase at low prices, and with the improvement of warehousing in July and the promotion of dumping, we will still see the gradual accumulation of social treasury. On the whole, in the short term, we still need to wait for the increase of storage volume and the accumulated stock market after throwing storage and landing to start bidding, and after the accumulation of storage appears, the price of zinc will be further weakened.
The dollar index rose slightly today, rising to an intraday high of 92.5 since April 6. The recent rise in the dollar was mainly due to an unexpected hawkish interest rate outlook from the Federal Reserve and concerns about the spread of the Delta coronavirus variant, and the market is watching the US non-farm payrolls report to be released on Friday to confirm the shift in monetary policy stance.
In terms of black series, thread rose 0.76%, hot coil rose 0.52%, coking coal fell 1.98%, coke fell 2.22%, iron ore rose 1.08%, stainless steel fell 0.87%, iron ore, considering that after the 100th anniversary celebration of the founding of the party in early July, the storm of production restriction has weakened, but the "double carbon" action is difficult to achieve results in the short term, and the expected adjustment of the burden structure of steel mills is limited. SMM expects some mainstream mineral prices to remain supportive in July. However, it is still necessary to pay attention to the conduction effect of the seasonal change of finished wood on iron ore.
[SMM monthly Outlook] structural contradictions of iron ore varieties still exist. It is expected that the prices of some mainstream varieties will still be supported in July.
Crude oil fell 0.24% in the previous period, while international crude oil futures rose on Thursday as investors waited for major oil-producing countries to decide whether to maintain or relax supply in the second half of the year. Us crude oil inventories fell for the sixth consecutive week last week, reflecting rising demand, according to the (EIA) of the US Energy Information Administration.
In terms of precious metals, Shanghai gold rose 1.19%, Shanghai silver rose 1.99%, international gold prices held steady on Thursday, and the dollar hovered near a three-month peak, as investors waited for a key US jobs report to be released later this week to see what impact this would have on monetary policy. According to previous data, private jobs in the United States grew faster than expected in June, as the economy quickly restarted and companies increased production and services, but the recovery of the job market still faces the problem of a shortage of workers willing to work.
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[stock market close] Index shock weakens the collective pullback of lithium batteries, photovoltaic, semiconductor chips and other sectors
The size index fluctuated today, the turnover of the two markets exceeded one trillion yuan, the weights of banks and real estate strengthened, the Prev once turned red, the Shanghai Stock Exchange rose 1%, and the gem index fell after continuing to innovate. Funds focused on medicine and health care, home appliances, food and beverages, clothing and home textiles and other major consumer sectors, Yao Ming Kant, Rui Healthcare, Tiger Pharmaceuticals, Kanglong Huacheng and other weighted core assets reached record highs. The traditional Chinese medicine sector led the rise, with more than 10 stocks up more than 10%. Medical concept stocks continue to rebound, online education, cement afternoon changes, brokerage, lithium battery, Hongmeng concept, national defense, photovoltaic, semiconductor chips are collective pullback. On the market, traditional Chinese medicine, pharmaceutical commerce and banks were among the top gainers, while national defense industry, securities, semiconductors and components fell at the top of the list. As of the close, the Prev index fell 0.07% to close at 3588 points; the Shenzhen Composite Index fell 0.81% to close at 15038 points; and the gem index fell 0.63% to close at 3455 points.
Related readings:
[SMM monthly Outlook] structural contradictions of iron ore varieties still exist. It is expected that the prices of some mainstream varieties will still be supported in July.
Taiyuan Iron and Steel Co., Ltd. made a profit of more than 700% in the first half of the year. Downstream demand improved & operating performance increased significantly.
Enjie shares: first-half net profit is expected to soar by more than 211% compared with the same period last year. Production and sales of wet lithium diaphragm increase steadily.
[hot stocks] it goes up by the daily limit for two days! The net profit of Ming Microelectronics in the first half of the year has increased more than eight times and its share price has risen 527% so far this year.
