SMM2 March 18: dollar Index: Fed officials believe it will be appropriate to raise interest rates soon, according to the minutes of the Fed's January meeting released on Wednesday. Data released on Thursday showed that the Fed's balance sheet rose by $32.967 billion to $8.960532 trillion in the week ended Feb. 16, an all-time high from $8.927565 trillion the week before. The dollar index continued to decline in the afternoon, down 0.06 per cent at around 16:00.
Crude oil: crude oil futures have continued to weaken in recent days, affected by the lifting of sanctions by Iran and tensions between Russia and Ukraine. Us crude oil and Brent crude continued to fall this afternoon, falling about 0.8 per cent as of around 16:40.
Metal market: basic metals closed higher across the board today, and rose slightly in late trading. Shanghai nickel recorded the largest increase of 2.73% in basic metals, while Shanghai lead rose slightly by 0.23%.
View the spot historical price of SMM metal
Shanghai Aluminum rose for the fourth time in a row, closing up 0.77% during the day. According to SMM analysis, frequent production cuts on the supply side and low inventory in China in 2021, aluminum prices fluctuated upwards, reaching a high of about 24800 yuan in October. After October, aluminum prices retracted rapidly due to the influence of energy consumption, power and production restrictions and other factors. At the beginning of the first quarter of 2022, aluminum continued to go to the warehouse, and aluminum prices rose sharply again due to the production reduction of aluminum factories in Guangxi. "View minutes of SMM Aluminium meeting
Shanghai nickel rose steadily this week, falling 0.49% only on Tuesday (February 15), a relatively strong rise. Today, Shanghai Nickel broke out again, rising more than 3% at one point in intraday trading. "View SMM Nickel Newsletter
According to SMM analysis, the steady growth of downstream demand in the first quarter of 2022, the expected resumption of stainless steel production and the continuous increase in the direction of new energy all indicate the current strong demand for nickel.
Black series, the main force of stainless steel, iron ore floating green, closed down about 1.25%. Thread and hot rolling both increased by about 0.8%.
The coal sector rose sharply across the board, with an increase of 5.46% for coking coal, 4.96% for thermal coal and 3.71% for coke.
LME metal futures: as of around 16:50, only aluminum fell 0.21%, zinc rose more than 1%, and copper and nickel rose about 0.8%.
As of 16:51 today:
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SMM Daily Review
Copper: after the opening of the 03 contract in Shanghai this morning, the main copper contract was arranged around 71290 yuan / ton in a narrow range, rising slightly to 71440 yuan / ton at about 09:30, and then continued to rise in the disk concussion, closing at 71570 yuan / ton in midday trading. In the afternoon, the opening of the market fell slightly at 71490 yuan / ton, then the long positions increased a lot, and the disk quickly climbed to 72020 yuan / ton. The increase slowed down around 02:30 in the afternoon. After touching a high of 72070 yuan / ton, it fell back in late trading, and finally closed at 71890 yuan / ton. An increase of 0.74%. The main force of Shanghai Copper 03 contract day reduced positions by 1222 hands to 11.8 hands, trading volume.
Shanghai copper is still strong in operation, breaking through 72000 yuan / ton in daily operation [brief review of SMM copper]
International copper BC: today BC copper main contract 2204 overall performance is more continuous push up, the morning market BC copper opened short, that is, the intraday low of 63450 yuan / ton, the early afternoon price continued to fluctuate higher, the rising speed is relatively slow, the early afternoon high of 63890 yuan / ton, the afternoon opening price fell rapidly to 63700 yuan / ton, after a period of horizontal shock adjustment, the price rose rapidly, closing two Changyang lines in 15 minutes, up to 64280 yuan / ton. After a slight adjustment.
A 50 basis point interest rate hike in March is expected to fall one after another, low inventories support copper prices to rise [SMM International Copper BC Review]
"View the price of SMM copper products
Electrolytic aluminum: today, the main 2203 contract of Shanghai Aluminum opened at 22620 yuan / ton in early trading, with the lowest price of 22570 yuan / ton and the highest price of 22890 yuan / ton. It finally closed at 22840 yuan / ton, up 1.75 yuan / ton from yesterday, an increase of 0.77%. The position decreased by 6292 to 154000 lots compared with the previous day, with a turnover of 239000 lots today. In terms of inventory, yesterday SMM counted domestic.
Aluminum rose in late trading during overseas emotional stimulation [brief review of aluminum in SMM]
"View the price of SMM aluminum products
Tin: the Shanghai Tin 2203 contract rose 1.82% today to close at 340010 yuan per ton and settle at 337250 yuan per ton. It is up 1.46% this week. On the market, after the opening of the night trading, the price fluctuated upward, and after a short period of rapid pullback, it maintained a relatively stable operation; today's turnover was 14.46 billion yuan, an increase of 1.969 billion yuan over yesterday; and its position was 30485 hands, 261 hands more than yesterday. Prices are rising today, changing the concussive state of a few days ago.
Futures tin 2203 contract rose, closing Yang this week, the current tin trading situation has improved [SMM tin brief review]
"View the price of SMM tin products
Stainless steel: today, the spot prices of all departments in Foshan market are basically the same, and even some of them are in a pullback, but the overall trend remains stable, and the macro mood is still unstable, while today's colored red, stainless steel has opened the way to make up for the decline. On the one hand, it comes from the market, inventory has increased, on the other hand, the market for stainless steel.
Is the mood of stainless steel market falling? Can the consumption rhythm be controlled [Foshan stainless Steel Daily Review]
"View the price of SMM stainless steel products
Iron ore: today, even iron continues to be weak and volatile, with the lowest price of the main contract hitting 661.5, down 1.37% throughout the day. There are different quotations in the port spot market in early trading. Some traders actively ship goods and steel mills purchase on demand. The atmosphere of spot transaction at the port is mediocre. The transaction price of PB powder in Shandong area is concentrated at 835-850 yuan / ton, which is 0-10 yuan / ton higher than yesterday's price. The transaction price of super special powder in Shandong area is 505-510 yuan / ton, up 5-10 yuan / ton compared with yesterday's price. Tangshan area.
Daily review of iron ore market
The stock market closed
Index differentiation throughout the day, the Shanghai Composite Index fluctuated and rebounded, rising for four consecutive days, while the gem index fell slightly. On the disk, the theme plate is active in turn. Big data concept stocks by the "east count west" good news to stimulate a number of stocks rose by the limit, big data related to a number of plates are among the top gainers. The infrastructure sector continued to strengthen in the afternoon. Today, the track plate mainly adjusted, salt lake lithium concept stocks led the decline.
On the whole, individual stocks rose more than fell today, with more than 3000 stocks rising in the two cities. Today's turnover on the Shanghai and Shenzhen stock markets is 807.5 billion, a decrease of 101.3 billion compared with the previous trading day.
In terms of plates, coal, steel, real estate development and other plates led the rise, while precious metals, salt lake lithium, automotive chips and other plates led the decline.
By the close, the Prev index was up 0.66%, the Shenzhen Composite Index was up 0.27%, and the gem index was down 0.46%. Northbound funds bought a net of 4.838 billion yuan today, of which Shanghai shares bought 3.025 billion and Shenzhen stocks bought 1.813 billion.
Today, the coal industry sector rose sharply, with the sector index up nearly 4%. Individual stocks, Anyuan coal industry limit, Shanxi coking coal, Ping Coal shares, Huaibei Mining and so on.
The three major A-share indexes rose and fell each other, coal, steel and other sectors led the gains of precious metals, salt lake lithium extraction and other sectors led the decline [stock market closing]
"View the price of SMM lead products
"View the price of SMM zinc products
"View the price of SMM nickel products
[SMM Today's News] Nickel in Shanghai rose more than 3% at one time. Black bounced back. | Weekly inventory and comments are released.
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