SMM10 March 10: yesterday, the outer disk metal rose across the board, Lun Copper rose 1.54%, Lun Aluminum rose 2.67%, Lun Zinc rose 1.8%, Lun Nickel rose 3.58%, Lunxi rose 0.55%, Lun lead rose 1.48%, of which Lenny Nickel rose the most. From a fundamental point of view, the nickel market has a strong trend towards many factors in the short term: at present, the nickel mine is still strong, and the supply will continue to be tight after the Philippines enters the rainy season in the fourth quarter. On the other hand, nickel pig iron is supported by raw materials and continues to stalemate with downstream bargaining; pure nickel as a raw material has improved economy, superimposed pre-section stock factors, and the spot trading of electrolytic nickel is active and gradually reduced to the stock. The only empty factor in the fundamentals is that the consumption performance of downstream stainless steel is lower than expected in the case of high production, resulting in a certain base. On the domestic side, Shanghai copper rose 0.02%, Shanghai aluminum rose 0.59%, Shanghai zinc fell 0.57%, Shanghai lead fell 0.6%, Shanghai nickel rose 0.67%, Shanghai tin rose 0.1%, thread rose 0.64%, and stainless steel rose 1.01%.
The dollar index fell 0.62% to 93.007, its lowest level since September 18. The research department of TD Securities said it found that the market was rebuilding dollar short positions in the run-up to the US election. The foreign exchange market remains broadly inclusive, but we note that our aggressive position index shows that investors are rebuilding their short positions in the dollar since the first election debate. Now the market is pricing more "blue wave", we think the foreign exchange market is trying to price Biden in office, and see this as conducive to economic recovery.
The three major indexes of US stocks rose collectively, with the Dow up 161.39 points, or 0.57%, at 28586.90, the Nasdaq up 158.96 points, or 1.39% at 11579.94, and the S & P 500 up 30.30 points, or 0.88%, at 3477.13. The Dow is up 3.3% this week, its biggest weekly gain since August. The s & p 500 rose 3.8% and the Nasdaq rose 4.6%, the biggest weekly gain since early July. The stock market rallied as hopes for a stimulus package increased in the United States. Trump said he wanted the stimulus deal to be bigger than the Democratic proposal.
In terms of precious metals, gold prices surged on Friday, with spot gold up nearly 2%, hitting a new high of $1930.61 an ounce since Sept. 21, the biggest gain since Aug. 17. News of the stimulus continues to affect the gold market, with both parties likely to reach a large fiscal policy agreement immediately, which will help boost precious metals.
As for crude oil, according to media reports, Jan Hodneland, a negotiator of the Norwegian Oil and Gas Association, said after the talks that "the two sides have reached an agreement that there will be no more strikes in the future." Audun Ingvartsen, chairman of the Lederne union, which also organized the strike, said that "the strike is over", so international oil prices fell significantly on Friday: WTI crude oil November futures closed down 59 cents, or 1.43%, at 40.60 US dollars per barrel; Brent crude December futures fell 49 cents, or 1.13 per cent, to 42.85 US dollars per barrel.
In terms of data,
Monthly rate of wholesale sales in the United States in August: 4.8%, expected 2%, 1.4% announced
