SMM12 March 3: most of the non-ferrous metals market is green in the morning. by midday, international copper is down 0.25%, Shanghai copper is down 0.24%, Shanghai aluminum is down 1.49%, Shanghai lead is down 1.32%, Shanghai nickel is down 1.48%, Shanghai zinc is down 1.27%, Shanghai tin is faintly red, and the decline in Shanghai lead has intensified in the morning. at one point, the decline is close to 2%, and the main 2101 contract has broken the first line of ten thousand five. Domestic metals fell overnight, Shanghai lead continued the downward trend in the past two days, breaking the 15000 line of market concern, but the domestic macro positive and recycled lead cost support limited the decline, it is expected that Shanghai lead will continue to fluctuate widely.
As for copper, today, the spot price of electrolytic copper in Guangdong Province rose 130 yuan / ton to the contract of that month, and the average price of 135 yuan / ton was the same as that of the previous trading day; wet copper quoted 80 yuan / ton higher than 90 yuan / ton, and the average price rose 85 yuan / ton the same as the previous trading day. The average price of electrolytic copper is 57215 yuan / ton down 5 yuan / ton, and the average price of wet-process copper is 57165 yuan / ton / ton.
"December 3 SMM Guangdong Copper spot Market KuaiBao: inventories have fallen again, but it is difficult for the consignor to push up the price and the water is the same as yesterday.
In terms of zinc, the mainstream trading of zinc in Shanghai was 21020-21140 yuan / ton, while that of Shuangyan was 21050-21170 yuan / ton. Shuangyan quoted a price of RMB130,140 / ton for the January contract, Shuangyan quoted a price of 160,170 yuan / ton for the January contract, and 20950-21070 yuan / ton for Shuangyan. Shanghai Zinc 2101 contract shock higher, the first trading session in the morning closed at 20990 yuan / ton, zinc fell 21000 yuan / ton, but the market trading did not improve, the first period of quotation from rising water 150 yuan / ton down to 130 yuan / ton trading is still weak, the market is more than less, the average price of the net is about 5-10 yuan / ton; To the second trading session, market trading turned weak, some downstream procurement demand was released, driving some traders to enter the market to purchase, the quotation remained stable at about 130-140 yuan / ton, but the overall transaction was not much better than yesterday, and the overall performance was mediocre.
[SMM afternoon Review] Shanghai Zinc: market quotation is slightly lower and trading is flat
The mainstream turnover of zinc in Guangdong is 20930-21100 yuan / ton, and the quotation is concentrated on the 60-80 yuan / ton increase in the 2101 contract for Shanghai zinc, and the discount of 60 yuan / ton in the Guangdong market is the same as that in the previous trading day. In the first trading session, the center of gravity of futures prices moved significantly lower than yesterday, but the shipments of consignors were active in times of rising water, and the supply of negotiable goods in the market increased, while the rigid demand in the lower reaches was dominated by procurement, and the market transaction was not smooth, and the rising water began to decline. Kirin, Mengzi and Huize quoted a price of 65-80 yuan / ton for the one-month contract of zinc in Shanghai. The second trading session, traders are still active shipments, spot rising water pressure down, downstream demand has not changed significantly, the overall transaction is general. Kirin, Mengzi and Huize quoted a price of 65 yuan / ton for the one-month contract of zinc in Shanghai and 60 yuan / ton for Tiefeng. Kirin, Mengzi, Huize, Tiefeng and other mainstream transactions in 20930-21100 yuan / ton.
[SMM afternoon Review] Guangdong Zinc: consignors are active in shipping spot water and continue to decline.
The mainstream transaction in Ningbo is 21030-21130 yuan / ton, and the rising water in January is about 120-150t, which is about higher than that in Shanghai. Market circulation brands are Tiefeng, Honglu-V, Kirin, Chihong, etc., Ningbo quotation for month, the overall quotation is not much different than yesterday, with the adjustment of delivery structure, Ningbo market circulation slightly tightened, traders are slightly more willing to accept goods at a low price, than Shanghai price difference narrowed to about flat water, downstream purchase willingness to pick up slightly, but the increase in trading volume is limited, transactions are further warmer than yesterday, but the range is limited.
[SMM afternoon Review] Ningbo Zinc: the quotation has not changed much since yesterday, and the willingness to purchase is heating up every fall in the lower reaches.
In terms of black series, thread fell 0.1%, hot coil fell 0.17%, coking coal rose 1.54%, coke fell 0.1%, iron ore rose 1.25%. In terms of iron ore, iron ore prices may continue to be high in the short term when the supply of medium-and high-quality ore in the mainstream continues to decline. In terms of threads, under the condition that the supply of steel mills tends to be stable and the market is facing winter storage pressure, the driving effect of other black varieties on threads will weaken along with the continued weakening of its fundamentals. Threads will continue to occupy the weakest position of black varieties, and their spot prices are likely to show a weak and fluctuating pattern. In terms of hot rolls, in the general direction, the fundamentals of hot rolls are intact, and even show signs of improvement, forming a strong support for the spot price of hot rolls.
Crude oil rose 1.58 per cent in the previous period, and OPEC (OPEC) resumed negotiations with Russia on Thursday in an attempt to set a policy tone for 2021. The first round of talks earlier this week failed to reach a compromise on how to deal with weak oil demand during the second wave of the outbreak. OPEC is widely expected to extend its current cut of 7.7 million b / d to at least the first quarter of next year, equivalent to 8 per cent of global oil demand.
In terms of precious metals, Shanghai gold rose 1.29% and Shanghai Bank 1.06%. On December 1st, Democratic and Republican lawmakers proposed a $908 billion stimulus package. On December 2, House Speaker Pelosi and Senate Democratic Leader Schumer called for immediate negotiations on the economic stimulus package and urged Senate Majority Leader Mitch McConnell to use the $908 billion bipartisan proposal as a basis for negotiations.
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