SMM3 March 15: most of the non-ferrous metals market is red today. By the end of the day, international copper rose 0.84%, Shanghai copper rose 0.69%, Shanghai aluminum rose 1.61%, Shanghai lead rose 0.34%, Shanghai zinc rose 0.6%, Shanghai nickel rose 0.16%, and Shanghai tin fell 2.17%. Nickel, the current pure nickel market consumption as a whole is relatively stable, low-price downstream on-demand procurement, stock enthusiasm reduced. The spot market of battery-grade nickel sulfate is still tight, but due to the deep decline in nickel prices, the recent spot price of battery-grade nickel sulfate may follow the downward trend, but it is expected that based on the current performance of terminal consumption, nickel sulfate will remain at a high premium to nickel beans. Objectively speaking, the fundamentals are not bad. The contract price of Shanghai Nickel main Company is expected to run at 118000 to 126000 yuan / ton. Renni is expected to operate at US $15700 to US $16,500 per ton.
[SMM brief comment] Great reversal! Will the shock pattern of Shanghai Nickel pull up sharply in late trading?
On the copper side, this week's focus is on the Fed's interest rate decision, but the market expects the Fed to keep monetary policy unchanged, and the market remains optimistic despite the arrival of the 1.9 trillion stimulus bill. Today, the copper in Shanghai is closed, the opening of the KDJ line is upward, and the MACD line maintains the green pillar. The solid column is supported by the 5-day and 10-day moving average, and the 5-day and 10-day moving average converges. Continued news from the United States in the evening to observe whether the bullish sentiment can continue to drive copper prices to continue to rise.
[brief Review of SMM Copper Futures] Shanghai Copper 68200 yuan / ton left a long upper lead due to resistance.
Lead, today, Shanghai lead continued to rise, recorded a long shadow line positive column, close three Lianyang, MACD column green column shortened. Shanghai lead rose within the day and then fell back and stabilized, and trading in the spot market in some areas improved slightly. Recently, the lead market has entered a trend of stopping falling and stabilizing, but considering the expansion of recycled lead discounts today and the expected release of primary lead delivery sources this week, Shanghai lead is limited to rebound and the upward trend may be maintained in the short term. At night, we will pay attention to whether Shanghai lead can continue to break through the 5-day moving average.
[brief Review of lead in SMM period] after rising during the day, the lead in Shanghai fell back and stabilized. Can Shanghai lead continue its rising trend at night to challenge the first line of 14900 yuan / ton?
In terms of black, thread rose 0.63%, hot coil rose 1.12%, coking coal fell 3.04%, coke 3.15%, iron ore 3.5%, stainless steel 0.11%, iron ore. Tangshan and many cities in China have issued emergency command documents for heavy pollution weather a few days ago. at the same time, the Ministry of Ecology and Environment and other departments reported that Tangshan enterprises did not implement the heavy pollution weather emergency response requirements. The policy of limiting production has been implemented vigorously, the demand for iron ore is expected to fall sharply, and the price of iron ore is expected to fall back rapidly from the high point. Although iron ore prices have fallen sharply recently, it is difficult to say that the downward channel has been opened, which is mainly supported by the following factors.
[SMM analysis] severely punish the low opening and falling of more than 6% of the limited iron ore, thus opening the channel?
Last period crude oil rose 0.47%, international crude oil futures rose on Monday, and Brent crude oil futures advanced toward $70 a barrel as data showed that China's economic recovery accelerated in early 2021, boosting the outlook for energy demand in the world's largest oil importer. In the first two months of this year, the average daily crude processing capacity of Chinese refineries rose 15 per cent from a low base in the same period last year, as fuel demand remained strong and refineries were eager to increase production before the peak maintenance season.
In terms of precious metals, Shanghai gold rose 0.19%, while Shanghai silver fell 0.06%. International gold prices erased earlier gains on Monday as better-than-expected Chinese industrial production data boosted hopes of a rapid economic recovery, while the sharp rise in US Treasury yields put pressure on gold prices. Analysts point out that the general driving force is that yields are driving gold downwards. Gold has rebounded from the oversold level, so some people are trying to take advantage of the opportunity to buy low. However, short-term fluctuations are often related to the direction of the dollar. No one knows exactly where the dollar is going.
Close during the day
"check out more metal prices.
[stock market close] the index fell unilaterally throughout the day and was active in steel and chemical stocks.
The index went down unilaterally throughout the day, mainly dragged down by the collapse of heavyweights such as Ningde era and Mindray Medical. The gem index tumbled 4%, the differentiation between large and small votes was serious, and individual stocks fell more than 9% and more than 50 stocks. On the plate, the divergence in the concept of carbon neutralization has increased, some funds have been cashed, individual stocks such as Sinopec Energy Saving and Southern Grid Energy have opened high and fell back, cyclical plates are active, iron and steel, and chemical industry have strengthened, and banking stocks, air transport, tourism and other sectors have risen against the trend; on individual stocks, in the afternoon, funds have returned to a high standard, with Huayin Electric Power, Jinniu Chemical Industry and Taiwan Strait Nuclear Power rising by the daily limit. On the market, tourist hotels, airports, shipping, chemical and other sectors led the increase, while super brands, semiconductors, securities and other sectors led the decline. As of the close, the Prev index fell 0.96% to close at 3419 points; the Shenzhen Composite Index fell 2.71% to close at 13520 points; and the gem index fell 4.09% to close at 2644 points. Shanghai shares have a net inflow of 1.392 billion, while Shenzhen stocks have a net inflow of 2.295 billion. "View details
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