SMM8 March 10: today's trading of non-ferrous metals is mixed. By the end of the day, the main contracts are as follows: international copper down 0.47%, Shanghai copper down 0.22%, Shanghai aluminum up 0.15%, Shanghai lead down 0.1%, Shanghai zinc up 0.29%, Shanghai nickel down 1.47%, Shanghai tin up 2.71%. In terms of copper, today, the copper in Shanghai is overcast, the opening of the KDJ curve expands downward, and the red column of the MACD line maintains a small elongation of the blue column. The solid column is closed below the recent moving average, and the pressure level of the Bollinger middle rail is obvious. Pay attention to the China M2 data to be released at 16:00 today, the market forecast is 8.7%, the previous value is 8.6%, if not as expected, it will not be conducive to copper prices to continue to rise.
[brief Review of SMM Copper] Copper in Shanghai has warmed up a little in the past few days, and basically recovered the land lost last night.
Tin, Shanghai tin 2109 trading trend is strong, after the opening with a large number of funds to enter the market price all the way up. Prices showed no signs of adjustment during the day, only slowed down before the close, and finally closed a small amount near the intraday high. From the perspective of capital, today's position increase of 6575 hands swept away the depressed market participation atmosphere in previous trading days, and the bulls showed a strong performance. Taking into account the slowdown in the sell-off rally of funds before the close and the test of early high pressure on prices, there may be a situation in which short-term long speculative funds take the initiative to stop profits tomorrow, and how the market digests this part of the selling pressure will become a key factor affecting the future trend.
[SMM tin brief review] the strong performance of Shanghai tin bulls tests the key pressure
Shanghai tin only rose, fundamentals, the domestic tin industry chain upstream mine end supply is tight, downstream processing enterprises rigid demand procurement of the main supply and demand logic remains unchanged. From the perspective of supply, on the one hand, the impact of the southern power restriction policy on the main producing areas of tin ingots is different, Guangxi is greatly affected, and some enterprises have reduced their production by nearly 50%. Other major producing areas are not much affected, taking into account that the overall supply is not affected by power cuts. On the other hand, the supply of mineral resources in Yunnan is relatively abundant, but some smelters are generally willing to increase production considering the contradiction between low processing fees and the risk of high tin prices. The smelters in other major production areas reported that the ore source was tight and the processing fee was low, which restrained the production scale.
From the point of view of demand, the strong demand of the electronics industry downstream tin solder processing enterprises take advantage of the opportunity of the decline in tin prices this week to step up procurement, according to some traders feedback last week transactions have increased compared with the previous period, downstream procurement willingness has been significantly strengthened. With the recent decline in the price of rising water in the market, the price gap between Yunxi and other brands is reduced, some low-rising water supply is quite popular in the market, and the products represented by Jiangxi brands are in short supply. From the perspective of technical analysis, the recent long funds have gradually launched a tentative upsurge. On the other hand, if the market wants to make a breakthrough in the direction, it also needs more sustained participation of funds from both sides. Tin price will currently test 236000 yuan / ton first-line pressure level, pay attention to whether it can be effectively broken.
[SMM News] Hu-Xi is approaching the all-time high and testing the upper edge of the range again.
In terms of black, thread rose 1.95%, hot coil rose 2.2%, coking coal fell 1.9%, coke rose 2.24%, iron ore fell 1.33%, stainless steel fell 0.86%. In terms of coke, the coal coke market in Shandong is strong today, and the market is optimistic. Most of the stocks in coke enterprises remain low, and coke sales are good; the operating rate of blast furnaces in steel mills is rising instead of falling, and steel mills still have a rigid demand for coke, and in order to reduce weather factors and the disturbance of market price and supply and demand caused by production restrictions of coke enterprises, begin to actively increase the stock. After the second round of increase and landing, the mainstream price of coke in Shandong area is 2870-2910 yuan / ton for quasi-one-water quenching coke and 3220-3270 yuan / ton for quasi-one-dry quenching coke, both of which are ex-factory tax.
[SMM Coke spot Daily Review] there is a strong demand for high-level coke in steel mills.
The previous period of crude oil fell 0.47%, and international oil prices rose on Tuesday, rebounding slightly from the three-week low hit in the previous session, but the increase is likely to be limited because of lingering concerns among investors that the increase in novel coronavirus cases and China's restrictions will weaken fuel demand.
In terms of precious metals, Shanghai gold fell 0.96% and Shanghai silver fell 1.15%. International gold prices hovered near multi-month lows on Tuesday, driven by rising US bond yields and a stronger dollar after strong US employment data last week raised concerns that the Fed had scaled back its stimulus measures earlier than expected.
"check the metal futures market.
[stock market close] the three major A-share indexes closed higher across the board, lithium battery and chip extended pullback.
Today, the three major A-share indexes closed higher, with the Shanghai Stock Exchange up 1.65%, the Prev up 1%, the gem index up 0.34% at the end of the day, and traditional white horses such as big finance, liquor and big consumption continued to rebound. Lithium electricity, chips and other high-prosperity track stocks continued to pull back, making the main board index outperform the gem index. Salt Lake shares rose sharply at the opening and then fell back, triggering up and down once respectively, and finally closed up by 306%, resuming the first day of listing to absorb 29.9 billion gold, which had a significant siphon effect, involving a sharp drop in lithium electric stocks. Electrolyte, positive and negative poles, salt lake lithium extraction, lithium ore fell all over the board. Military stocks staged a rising and stopping trend, and more than a dozen stocks, such as Xinyan shares and Xinjing just, rose by the daily limit or more than 10%. Liquor stocks continued to be active, Guizhou Moutai rose 6%, Huangtai Liquor Industry, willing Liquor Industry, and Shuijingfang rose by the daily limit. In addition, energy storage concept stocks continued a strong trend, brokerage stocks pulled up, Hongta Securities rose by the daily limit. On the plate, wine, aviation, food and beverages led the increase, while semiconductors, non-ferrous materials, building materials and other declines were in the forefront. As of the close, the Prev index rose 1.01% to close at 3529 points, the Shenzhen Composite Index rose 0.78% to close at 15057 points, and the gem index rose 0.34% to close at 3468 points.
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