SMM1 March 5: yesterday, the outer disk metal market rose across the board, Lun Copper rose 1.32%, Lun Aluminum rose 2.5%, Lunzn Zinc rose 1.78%, Lunni rose 4.86%, Lunxi rose 3.05%, and Lunxi lead rose 3.85%. In the domestic market, international copper is down 0.25%, Shanghai copper is down 0.26%, Shanghai Aluminum is up 1.41%, Shanghai zinc is up 0.53%, Shanghai lead is up 1.14%, Shanghai nickel is up 1.61%, Shanghai tin is up 2.26%, iron ore is up 3.75%, thread is up 1.5%, and stainless steel is up 0.62%. Among them, Lunni rose the most, SMM believes that the fundamentals are still stable, consumption remains rigid demand, because the spot market of stainless steel has improved, steel mills do not have the possibility of significantly reducing production for the time being. High nickel pig iron price stability is mainly due to the current steel mills are not in the procurement cycle, New Year's Day holiday or demand release, there is a small upward space; electrolytic nickel slow decline trend continues. Although the performance of the fundamentals is OK, we should also pay attention to the increasing negative emotional pressure after the early overdraft. After all, the capital factor plays an important role in the early nickel price rise. Therefore, on the whole, there is a reason for nickel prices to be long and short, or to maintain a high volatility trend, and operators can further wait and see the performance of the post-holiday market. It is estimated that this week, Shanghai nickel is 122000-128500 yuan / ton, Lunni is 16500-17300 US dollars / ton.
The dollar index hit 89.42 earlier in the day as market optimism cooled and US stocks tumbled.
In terms of US stocks, the three major indexes fell across the board, with the Dow down 382.59 points, or 1.25%, at 30223.89, the Nasdaq down 189.84 points, or 1.47% at 12698.45, and the S & P 500 down 55.42 points, or 1.48%, at 3700.65. After the New year holiday, the single-day confirmed case of novel coronavirus in the United States soared to a record level of nearly 300000, the mutated strain that is more easily transmitted could aggravate the epidemic, and the surge in global novel coronavirus cases clouded the prospects for economic recovery.
In terms of crude oil, US oil and cloth oil once fell more than 2%, breaking their lows since December 23 last year to 47.18 US dollars per barrel and 50.56 US dollars per barrel respectively. The OPEC+ will reconvene on Tuesday after talks on February oil production levels reached an impasse, with Saudi Arabia opposing an increase in production because of new blockades and Russia taking the lead in calling for an increase in production, citing a recovery in demand.
In precious metals, COMEX February gold futures closed up $51.50, or 2.7 per cent, on the back of a weaker dollar, the biggest one-day percentage gain since April 2020 to $1946.60 an ounce.
In terms of data, the initial value of German manufacturing PMI in December, the previous value: 58.6 expected: 58.6 announcement: 58.3
Euro zone manufacturing PMI initial value in December, previous value: 55.5 expected: 55.5 announcement: 55.2
Final value of Markit manufacturing PMI in the United States in December, previous value: 56.5expected: 56.3announcement: 57.1
Monthly rate of construction expenditure in the United States in November, previous value: 1.6% expected: 0.9% announcement: 0.9%
