[SMM afternoon Review] there is a general decline in the non-ferrous market. Black is difficult to survive. The last period of crude oil fell 2.78%.

Telah Terbit: Jul 20, 2020 11:52 (GMT+8)
On Monday morning, most commodities were green, with non-ferrous metals near shanghai aluminum up 0.67%, while shanghai zinc, shanghai lead and nickel both fell more than 1%.

SMM7 March 20: on Monday morning, most commodities were green, non-ferrous metals near Shanghai aluminum rose 0.67%, Shanghai zinc, Shanghai lead and nickel fell more than 1%. Shanghai Aluminum rose 0.67%. In terms of inventory, on July 20, SMM counted that the social inventory of electrolytic aluminum in China was 712000 tons, an increase of 4000 tons over last Thursday. The inventory in Shanghai, tin and Guangdong was small, and the inventory in Gongyi, Hangzhou and other places continued to decline. In terms of electrolytic aluminum inventory, the inventory of electrolytic aluminum increased by 4000 tons compared with last Thursday. The 2020 China Ni-Cr stainless Steel Industry Market and Application Development Forum was held in Wuxi by SMM on July 20. At the meeting, SMM Senior Nickel analyst Liu Yuqiao analyzed the market and market prospect of China's Ni-Cr stainless steel industry chain in 2020. SMM expects both nickel and stainless steel prices to have wide volatility, ferrochromium prices are relatively stable, and the price center of gravity in the second half of the year is higher than that in the first half of the year as a whole.

In terms of black, iron ore and steel both fell slightly. According to the statistics of SMM, the operating rate of blast furnace rebounded slightly in the third week of July, mainly from the end of the maintenance of some steel mills. It is expected that the operating rate will remain relatively stable this week, the demand side will continue to be high, and it will also provide strong support for iron ore. Short-term in the current high after falling, if there is no other external news stimulation, the imported mining market this week or high shock.

Crude oil fell 2.78% in the previous period. Oil prices fell on Monday, dragged down by the prospect that an acceleration in the number of new crown infections could dampen the recovery in fuel demand. Brent crude futures are now down 0.74% at $42.82 a barrel. Us crude oil futures fell 0.69% to $40.31 a barrel.

Close by noon

Today's spot

Zinc: Shanghai Zinc mainstream traded at 17700Mel 17820 yuan / ton, Shuangyan at 17710MUE 17830 yuan / ton, Shuangyan Zinc for August 100 RMB110 / ton, Shuangyan for August at 110RMB / ton, and Shuangyan Zinc mainstream at 17630MUE 17750 yuan / ton. The main trade of Zinc in Shanghai was 17700Muk 17820 yuan / ton, Shuangyan zinc was traded at 17710Mui 17830 yuan / ton. Shanghai Zinc 2008 contract rose after intraday finishing, closing at 17680 yuan / ton in the morning market. The smelter shipped normally, the domestic circulation in the market is still not high, and the trading is normal. The domestic quotation in the market has further risen from 100yuan / ton to 110yuan / ton, and the transaction feedback is limited. The average price of SMM net and the average price + 5 are more active. Into the second trading session, the market quotation remained stable at about 110 yuan / ton, trading activity among traders decreased, downstream procurement is still no bright spot, the overall market turnover is mediocre.

The mainstream trading of zinc ingots in Tianjin market was 17800mur17860 yuan / ton, Zijin was traded at 17840mur17890 yuan / ton, Huludao was quoted at 19060 yuan / ton, Zinc was generally quoted around 140yuan / ton to 2008 yuan / ton to 150yuan / ton, Zijin to August contract was quoted around 180yuan / ton, and the Tianjin stock market remained around 2030 yuan / ton compared with Shanghai stock market. Today, the decline of zinc in Shanghai has widened, and the discount price has been raised on the spot market, and the price is relatively uniform. The ordinary brand Bering News has quoted a rise of 140 yuan per ton for the 08 contract, and Hong has quoted a rise of 150 yuan per ton for the 08 contract. Chi Hong quoted a rise of 140 yuan per ton for the 08 contract, while the high-priced brand Zijin quoted 180 yuan per ton for the August contract, while Baiyin quoted 180 yuan per ton for the 08 contract. The fourth Ring Road (delivered) quoted 120 yuan / ton for the 08 contract, and Ha Zinc (including the depot) quoted 70 yuan / ton for the 08 contract. Today, the decline in zinc prices widened, and traders raised their discount quotations, and all reflected that shipments were relatively smooth after today's falling prices, and some of them shipped at high prices; downstream, absolute prices fell sharply today, and downstream enterprises' willingness to buy goods improved, and the terminal project in North China was warmer than in the previous period. On the whole, today's transaction is better than last week. Zinc ingots traded at around 17690 RMB17740 per ton.

The mainstream transaction of Ningbo Gao was 17660 Mel 17760 yuan / ton, and the price of the ordinary brand increased by 80 won 130 yuan / ton to 2008, and the price difference between Ningbo and the ordinary brand in Shanghai changed from the flat water last Friday to around 10 yuan / ton of discount. Today's correction in zinc prices has led to the buying mood downstream, and Ningbo market traders are more active in shipments. In the first trading session, Tiefeng reported that the water rose around 100 yuan per ton for the August contract, and the West Mining News raised about 80 yuan per ton for the August contract. Kirin reported around 130 yuan per ton for the August contract, and Huize reported around 200 yuan per ton for the August contract. In addition, some imported zinc, such as Harbin zinc, is quoted around 10 yuan / ton for the August contract, and Myanmar zinc is reported around 50 yuan / ton for the August contract. The market downward adjustment overlay market supply circulation is more abundant, today Ningbo market trading has improved, downstream enterprises purchase willingness to pick up.

Updating.

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