The trend of internal and external market diverges Shanghai Aluminum down more than 1% and the black line weakens [SMM market tracking]

SMM3, March 30: the dollar continued to fall this morning as reports of progress in peace talks between Russia and Ukraine boosted the euro and reduced the dollar's safe-haven attractiveness. In terms of crude oil, both American oil and cloth oil rose slightly in early trading today, with the American Petroleum Institute (API) morning data saying that US crude oil and oil products inventories fell last week. Meanwhile, Kazakhstan's energy ministry said on Tuesday that the country's oil production would lose at least 1/5 a month after the storm damaged export facilities.

Metals in the inner market generally fell this morning, while Shanghai Nickel continued to lead the decline in non-ferrous plates with a decline of 2.75%, while Shanghai Aluminum fell 1.5%. Shanghai copper and zinc fell slightly by 0.14% and 0.21%. Only Shanghai lead and Shanghai tin rose slightly, with Shanghai lead up 0.26% and Shanghai tin up 0.33%.

In terms of black, stainless steel night trading stopped falling and continued to rise in morning trading, up 0.37%. The decline in iron ore was narrower than overnight, falling slightly by 0.81%. The thread fell slightly by 0.78% and the hot coil fell by 1.02%. Double coke continued to rise and the increase continued to expand, with coking coal up 1.06% and coke up 1.96%.

The outer disk metal performed even better, most of which rose. Among them, aluminum and zinc turned red more smoothly than overnight, with aluminum leading the way with an increase of 0.86%, followed by a rise of 0.72%. Lun copper rose slightly by 0.43%, while lun lead rose slightly by 0.02%. Only Lunxi slightly dropped 0.01 floating green.

As of 9:30

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Summary of SMM Copper Morning meeting: the probability of raising interest rates by 50 basis points in May will rise one after another, and the geopolitical situation supports the sustained high volatility of copper prices.

On March 29, the monthly contract of electrolytic copper in Shanghai was quoted at 340 to 450 yuan / ton, with an average price of 395 yuan / ton, up 140 yuan / ton over the previous day. In the last three trading days of March, the epidemic in Shanghai was serious, buyers could not pick up the goods under the closure of the city, logistics was blocked, and the circulation was restrained, while the cost of capital and warehousing cost made the holder intend to raise the water price to ship the goods. "View details

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Summary of SMM Aluminium Morning meeting: the situation in Russia and Ukraine is favorable and the overseas driving force weakens. Aluminum falls overnight.

Summary: on the supply side, the resumption of domestic electrolytic aluminum production has been accelerated, but the output in the first quarter is difficult to exceed the level of the same period last year, and the epidemic still restricts the transportation of aluminum ingots in some areas. On the demand side, sudden outbreaks in many places in China interfere with downstream construction, and aluminum storage slows down. In the short term, the small accumulation of domestic aluminum social inventory and the epidemic situation are bad for aluminum prices, Ukraine and Russia Bureau. "check details

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Minutes of SMM lead morning meeting: lead ingots go to the warehouse and spot discount to hedge the short-term rise in lead prices may slow down

The problem of energy supply continues to ferment, boosting lead prices to fluctuate upward, while the impact of the domestic epidemic remains. "View details

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Summary of SMM Zinc Morning meeting: the situation in Russia and Ukraine eased slightly and the trend of zinc price was weak.

On the macro level, boosted by the negotiations between Russia and Ukraine, market sentiment moderated slightly, and zinc prices fluctuated slightly. "View details

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SMM Tin Morning News: the relationship between supply and demand dominates the trend of tin prices to maintain horizontal trading

The price trend of Shanghai and tin remains horizontal, and the movement of funds in and out is relatively small. In terms of fundamentals, domestic warehouse receipt inventory is flat and stable, while overseas inventory is slightly removed. The spot price fluctuates less than the futures price, and the mainstream transaction price is still under the integer mark of 350000 yuan / ton. On the market trend, after the opening of the night trading yesterday, Huxi was slightly affected by the overall weak situation of the market, but then. "Click to view details

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Summary of SMM Nickel Morning meeting: overnight Shanghai Nickel weak shock fundamental demand is expected to weaken

Overnight nickel weak shock, funds continue to leave, Shanghai nickel return to fundamentals, or short-term lack of upward momentum. On the supply side, the current Shanghai nickel disk fluctuates greatly, and the sharp rise and fall in the spot price of pure nickel leads to more cautious procurement in the lower reaches. Long-term import losses have led to the trend of scarcity in the nickel bean, Sumitomo and Norwegian nickel markets. In terms of nickel pig iron, due to the downward trend of Shanghai nickel disk yesterday. "View details

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Summary of SMM Steel Morning meeting: the cost of steel is strongly supported because of the continuous obstruction in road transportation.

On March 29, the period snail range fluctuated, the spot quotation was stable and strong, and the transaction was generally weak. At present, the development of the domestic epidemic situation has not been significantly improved, and the situation in East China, Jiangsu, Zhejiang, Shanghai, Northeast and North China is still relatively grim, road transport control has become stricter, and the performance of production and consumption has been seriously hindered. But at present, the domestic building materials inventory and output are at a low level compared with the same period last year, followed by strong cost support and superposition. "View details

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