SMM3, March 24, the dollar continued to rise in early trading, as Federal Reserve Chairman Colin Powell's speech raised the possibility of raising interest rates by more than 25 basis points at the upcoming meeting. This more radical position was echoed by other policy makers in support of the dollar.
As for crude oil, gains narrowed in early trading and rose slightly as US crude oil inventories fell, while the storm's damage to an important export terminal in the Black Sea also increased supply risks, and oil prices are likely to rise further.
Metal inner plate all floating red, Shanghai Nickel continues to stop at the limit line. Shanghai tin rose 5.79%, and Shanghai zinc rose 2.57%. Shanghai Aluminum rose 1.48%. Other Shanghai copper gains narrowed to 0.68%, while Shanghai lead rose slightly by 0.29%.
The increase in stainless steel in black series fell slightly, but it still rose 6.62%, leading to a rise in black series, while iron ore increased by nearly 3%. The thread rose by 1.28% and the hot coil by nearly 1%. Double coke continued to rise, with coking coal up 2.31% and coke up 2.01%.
In the outer disk, early pan Lun copper and lun lead turned green overnight, Lun lead fell by 0.78%, and Lun copper fell by 0.26%. Others continued to rise, but the rate of increase narrowed somewhat. Among them, Lunxi took the lead with an increase of 1.42%, while aluminum and zinc rose slightly by 0.62% and 0.51% respectively. Renni did not open trading this morning after a sharp rise overnight.
As of 9:30
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Minutes of SMM Copper Morning meeting: energy supply crisis continues to ferment Copper prices hit a two-week high
Continuing concerns about global supply disruptions caused by tensions between Russia and Ukraine and falling stocks of crude oil, gasoline and refined oil depots in the US have boosted oil prices sharply. At the same time, Russia plans to require European countries to pay for natural gas in rubles, a move that could exacerbate Europe's worst energy crunch since the 1970s, sparking fears of supply shortages. It is expected that today's Lun Copper. "Click to view details
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Summary of SMM Aluminium Morning meeting: sharp rise in Natural Gas prices in Europe raises supply concerns over 5% rise in Aluminium overnight
On the supply side, the resumption of domestic electrolytic aluminum production has accelerated, but it has not yet reached the level of the same period last year, while overseas energy prices have risen again, adding to market concerns about production cuts in aluminum mills. On the demand side, the domestic electrolytic aluminum community continued to decline this week, and continued to go to the warehouse to give some support to aluminum prices. Expected short-term aluminum price. "Click to view details
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Summary of SMM lead Morning meeting: tight Energy supply in Europe intensifies Commodity prices boost again
In the macro market, Putin asked "unfriendly countries" to pay for Russian natural gas in rubles. European natural gas prices soared 34% on the news, and commodities rose collectively. On Wednesday, Russia and Ukraine continued to exchange fire in many places. Fed Mestre: need to raise interest rates several times by 50 basis points without worrying about shrinking the table and raising interest rates at the same time; the Fed's overnight reverse repurchase once again hit a new high for the year. In terms of fundamentals. "Click to view details
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Summary of SMM Zinc Morning meeting: zinc price is driven up by nickel and the fundamentals continue to be flat.
On the supply side, the import window of the mine side continues to close, and the supply is tight to lift the zinc price. On the consumer side, the impact of the epidemic continues to be transmitted, consumption is still weak, and market trading continues to be flat. In the spot market, the traffic control in some areas has been lifted due to the epidemic, but the actual traffic has not returned to the daily level, and the transport efficiency of zinc ingots has not been significantly improved. Taken together, in the short term. "Click to view details
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SMM tin morning news: tin price high opening high performance strong multi-empty concentration entrance contradiction highlights
Fundamentally, domestic warehouse receipt inventory continues to decline, while overseas inventory remains stable and does not change much. The spot market shipment performance is lukewarm, the demand side enthusiasm is low. On the market trend, Huxi night trading trend was affected by market sentiment, and prices continued to rise after opening high. The total amount of funds entered the market in large quantities, and there were obvious differences between the long and short sides in this position, and the market heated up driven by the contradiction. "Click to view details
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Summary of SMM Nickel Morning meeting: the strong price spread of LME widened again, which led to the overnight limit of Shanghai Nickel.
Overnight, Shanghai nickel rose by the daily limit of 15.92%, and the price of nickel was strong. On the supply side, the epidemic has once again aggravated the current transportation situation in Shanghai. Yesterday, the rising water of pure nickel fell, but the absolute price was on the high side due to the high disk size, the spot transaction situation was weak, and the weak situation of both supply and demand in the market remained unchanged. The current nickel price is greatly affected by the capital side, the follow-up trend of Shanghai nickel should continue to pay attention to …. "Click to view details
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Summary of SMM Steel Morning meeting: production restrictions of Northern Iron and Steel Enterprises short-term Black Series Price shock Operation
Affected by the epidemic, Tangshan implemented global closed control, and transportation came to a standstill. The superimposed epidemic situation in Binzhou, Shandong Province has not been alleviated; the transportation of raw materials and finished materials between the two places has stagnated, many steel mills are stuffy, the demand for iron ore is declining rapidly, and the ore price is weak and fluctuating in the short term. "Click to view details
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