SMM, 9 July:
Aluminum: in the morning, Lun Al opened at US $2084 / ton. at the beginning of the day, Lun Al quickly pulled back the 5-day moving average, touching a high of US $2110 / tonne, and then Lun Al once again set a new intraday high of US $2112 / ton in the midst of a high concussion, and as of 17:40 Lun Al was at US $2105 / ton. In the short term, Shanghai aluminum stopped falling, the dollar fell back in the background, it is expected that Lun aluminum temporarily stabilised and volatile, medium-term attention to the uncertainty of domestic environmental policy.
The main contract of Shanghai Aluminum opened at 14120 yuan / ton in the morning, and bulls entered the market at the beginning of the plate. the volume of Shanghai aluminum rose by 14225 yuan / ton, but then the short position was confronted head-on, the position of Shanghai aluminum increased steadily, and the high and weak aluminum price closed at 14165 yuan / ton. The Shanghai Aluminum Index increased its position by 8776 hands to 638874 hands. in the short term, aluminum prices showed signs of stabilizing under the rebound in alumina prices, but it was really difficult to establish a rebound market. on the one hand, it was restricted by the current overall empty macro atmosphere. On the other hand, the marginal weakening of supply and demand level has become a foregone conclusion, short-term aluminum prices are expected to maintain 13,950 ≤ 14,200 yuan / ton range volatility.
On the spot side, the transaction concentration was 13,980 ≤ 14010 yuan / ton in Shanghai, 40 yuan / ton in that month, 13980 ≤ 14010 yuan / ton in Wuxi and 14010 yuan / ton in Hangzhou. Spot discount slightly expanded, the strength of cargo holders weakened, into receipt, middlemen to improve the enthusiasm for receiving goods, downstream enterprises on demand procurement, the overall transaction is more active than Friday. Afternoon aluminum high concussion, East China transaction price concentration of 14000 ≤ 14010 yuan / ton.
Lead: within the day, Lun lead opened at US $2337 / ton. during the Asian session, the US dollar weakened, and the first session of the plate was boosted by lead. when the domestic market opened, Lun Pb has rushed up US $2355, the center of gravity has moved up above the daily moving average, and most of the days are based on the daily average of US $2350. At the end of the Asian session, lead was narrowly sorted out. at one point, it climbed to an intraday high of US $2360 per tonne. when it entered the European session, the low of the US dollar recovered slightly, the basic metals gave up their gains, and Lun lead fell below the daily average. After a dip of 2344 US dollars per ton, it rebounded to shock near the daily average. by the end of 16: 50, Lun Pb closed at 2354.5 US dollars / ton, up 10.5 US dollars, or 0.45%. Lun Pb temporarily closed on the Xiaoyang Line, MACD formed a shoulder-slumping dead fork, and the 5-day moving average was under pressure. It is expected that the 5-day line pressure may continue to be tested at night.
Within the day, the Shanghai lead 1808 contract opened at 19535 yuan / tonne. at the beginning of the session, Shanghai lead followed other metals up, rushed up to 19725 yuan / ton, then fell back, and then basically fluctuated along the daily moving average. at noon, some short positions left the market and the concussion platform moved up. However, bullish sentiment was weaker, Shanghai lead concussion returned to near the daily average, finally reported at 19635 yuan / ton, down 5 yuan / ton, down 0.03%, position reduced by 2300 hands to 61498 hands. Shanghai lead reported to close the Xiaoyang line, ending six consecutive negative, but the 40-day moving average pressure, failed to stand effectively, it is expected to test 19500 yuan platform support at night.
Shanghai market Jinsha lead 20780 ≤ 20,830 yuan / ton, 1807 contract water 200 ≤ 250 yuan / ton; Ha lead 2020 ≤ 20,400 yuan / ton, 1808 contract water 600 ≤ 780 yuan / ton. The futures market is open high and low, at the same time, the supply of domestic lead is still small, the quotation of the cargo holder goes with the market, among them, with the import of lead to Hong Kong one after another, the quotation continues to narrow, downstream on-demand procurement, but some tend to regenerate lead, the market has not improved significantly for the time being.
Guangdong market Nanhua lead 20550 ≤ 20,600 yuan / ton, the average price of SMM1# lead 100 ≤ 50 yuan / ton quotation; other brands quote less. Lead prices continue to weaken, cargo holders in bulk quotation water slightly narrowed, but downstream demand is not strong, only rigid demand to receive goods, trading is weak. Henan area Yuguang, Jinli, Wanyang, Minshan, Xinling lead main supply Changdan, bulk single not quoted for the time being; northern Henan 20650 yuan / ton, SMM1# lead average price flat water quotation; Yongning gold lead 20600 yuan / ton, SMM1# lead average water 50 yuan / ton quotation. After the lifting of the local environmental restrictions, refineries are still gradually recovering, the supply of bulk orders is still small, downstream to maintain on-demand procurement, the overall market transactions to a long single majority. Hunan Shuikoushan lead 20550 yuan / ton factory, to SMM1# lead average price discount 20550 yuan / ton (trader source), Jingui 20600 yuan / ton factory offer, SMM1# lead average price discount 50 yuan / ton (trader source), Jingui 20600 yuan / ton factory offer, lead average price discount 50 yuan / ton (trader source); Silver Star 20520 yuan / ton, the average price of SMM1# lead discount 130 yuan / ton quotation. Lead price weakness does not change, refinery sheet accompanied by quotation, downstream on-demand procurement, but with the increase in the supply of recycled lead, part of the demand flows to recycled lead, the market transaction is general.
Zinc: today, Lunzin opened at US $2747 per tonne, the US dollar fell sharply overnight, the volatile macro environment calmed down, and bulls poured in. at the beginning of the day, the daily average of zinc rose rapidly, reaching a high of US $2775.5 per ton. Slightly fell back in the vicinity of 2765 US dollars / ton consolidation, in the afternoon, the market bearish mood rose again, the air into more flat, Lun Zn jumped off the daily average fell rapidly, to the close of the Asian market, Lun Zn stopped falling around 2735 US dollars / ton for a little breathing, after the European period, LME zinc stocks unexpectedly recorded an increase of nearly 3000 tons, and immediately accelerated the release of low hit 2707.5 US dollars / tonne, 2700 US dollars / ton integer support initially appeared, Lenzin stopped falling to repair, as of 15 ≤ 48, at 2713.5 US dollars / ton. It was down $39.5, or 1.43%, from the previous session. Within the day, Lunzin trend pressure, below the $2700 / ton integer support, the dollar is under pressure below 94 points, there is still support for basic metals, is not expected to fall further in the evening.
Today, the main 1809 contract of Shanghai Zinc opened at 22260 yuan / tonne, continuing the overnight rally of 22275 yuan / ton at the beginning of the session, and the high pressure slightly fell back to a narrow range around 22165 yuan / tonne. in the afternoon, short positions gradually came into the market. Drag Shanghai zinc center of gravity to sink to 22120 yuan / ton near a little struggle to pick up the decline, shock downward, low hit around 21965 yuan / ton, near the end of the day, Shanghai zinc stopped falling slightly repaired in the vicinity of 21995 yuan / ton. It closed up 21995 yuan a tonne, up 0.53 percent, or 0.53 percent, from the close of the previous session, with volume down 69204 hands to 246000 hands and positions up 7102 hands to 166000 hands. Within the day, Shanghai zinc recorded a long shadow line, on the action can not be enough, in addition to European trading hours, Lun zinc further lower, evening Shanghai zinc may be dragged down by the outer plate, under pressure 22000 yuan / ton integer level for repeated testing.
Shanghai 0 # zinc mainstream traded 2290 ≤ 22615 yuan / ton, 0 # ordinary contract for 1808 reported 180 × 200 yuan / ton, Shuangyan reported 230 ≤ 240 yuan / ton for August. 1 # mainstream transactions in 22420 ≤ 22480 yuan / ton. Some refineries cherish the sale. in the early market, traders mainly trade in long orders, and quotations in bulk orders are relatively rare. they are still deadlocked at a high level near the delivery of spot water, and traders are cautious in their transactions. because of frequent fluctuations in monthly differences, some traders quote prices for July. Seeking monthly difference profits, the overall trading is slightly light. Entering the second trading period, the spot water remained high because the disk was pulled up, and the downstream wait-and-see mood warmed up, mainly by entering the market for inquiry, and the actual consumption performance was weak. some traders took advantage of the opportunity to press the price to receive the goods, but the room for concessions by the cargo holders was limited. The market quotation maintained about 180 yuan / ton, the overall transaction is not as good as last Friday.
Today, Guangdong 0 # zinc mainstream transactions in 22670 ≤ 22720 yuan / ton, Guangdong City than the Shanghai market from 170 yuan / ton on Friday slightly narrowed to about 160 yuan / ton. About 330 yuan / ton for Shanghai Zinc 1808 contract, about 40 yuan / ton lower than last Friday. in addition, a small amount of Spain and 1 # zinc are in circulation in the market. the quoted price for Shanghai Zinc 1808 contract is about 260 yuan / ton. But few have heard of a deal. Today, refinery shipments are normal, traders are actively shipping, and downstream zinc prices are low when there is a storehouse. therefore, there is no environmental protection group to withdraw some of the qualified enterprises because of the gradual resumption of production and procurement willingness to improve the scene, the amount of goods taken into the market is flat. The market as a whole is not as good as last Friday and is dominated by traders. 0# Kirin, Cishan, Tiefeng mainstream transactions in 22670 ≤ 22720 yuan / ton.
The mainstream of 0 # zinc ingots in Tianjin market traded at 22610 ≤ 23810 yuan / ton, the mainstream of 0 # ordinary brands traded at 22610 ≤ 22,750 yuan / ton, and the contract for Shanghai zinc 1808 rose 300 yuan to 380 yuan / ton, about 60 yuan / ton compared with last Friday. The difference between Tianjin and Shanghai is around 150 yuan per ton, an increase of about 90 yuan per ton from Friday. Zinc prices stopped falling and stabilized, refineries are still relatively reluctant to sell, some traders because of the small amount of storage, in addition to zinc prices are still low, there is a high price, the willingness to ship is relatively poor, the market flow volume is reduced, and most of the downstream is mainly on-demand procurement. The market was roughly the same as last Friday. 0 # Zijin, Hongye, Bailing, Qin Zinc, Chihong and so on traded in 22610 ≤ 22750 yuan / ton, 1 # Zijin, Chihong, Hongye, West Mine and so on traded 22560 ≤ 22700 yuan / ton.
Tin: today Lunxi opened at $19460 a tonne, and the Asian session was mainly fluctuating near the 5-day moving average. The dollar fell in early trading, helping Lunxi rise, hitting a high of $19550 a tonne at the start of the session, before recovering from its low of almost 94 points and moving its centre of gravity down to around $19450. Lunxi continued to fall has touched the oversold area, today's RSI index inflection upward, the short-term 5-day moving average capped, in the evening to continue to test the top $19500 / ton breakthrough.
Yesterday night's Shanghai tin remained low consolidation; today opened 143690 yuan / ton, the trend rose volatile, hitting as high as 144450 yuan / ton, closing at 143960 yuan / ton in the afternoon, up 610 yuan / ton from the previous day's closing price, up 0.43 per cent. The transaction was 16848 hands minus 13360 hands, and the position was reduced by 31802 hands by 422 hands. Today, most of the non-ferrous metals closed higher, Shanghai tin by short positions to reduce the support shock rose, but above the 10-day moving average near there is still resistance. In the short term, it is expected to maintain a strong concussion trend, resistance of 145000 yuan / ton.
Spot market, today Shanghai tin disk concussion rose, supported by this, Shanghai tin spot price followed the rise, the morning market mainstream 142,500 ≤ 143,300 yuan / ton, and then gradually raised to 143,000 ≤ 144,000 yuan / ton, 142500 yuan / ton supply is less, the transaction atmosphere is general. Yunxi 143500 ≤ 144,000 yuan / ton, ordinary cloud word sticker about 500 yuan / ton, small brand 143000 yuan / ton.
Nickel: Lenny opened at US $13975 per ton. After the official landing of tariffs imposed on each other in the Sino-US trade war, market sentiment stabilized. The dollar fell overnight, supporting more of the rebound in basic metals during the day. Pan Chulun nickel oscillated upward along the daily average and gradually moved away from the daily average. After touching a high of $14142 per ton, the upper pressure 5-day moving average fell back to near the daily average, fluctuating narrowly around $14185 / ton. In the afternoon, Lun nickel rose 14240 US dollars / ton again, but the kinetic energy of continuous rise was slightly insufficient, and the shock fell back near the daily moving average. During the European period, Lun Nickel continued to be pressured on the daily moving average, ending at 16 ≤ 52, at $14125 / ton, closing at the Xiaoyang line. The daily technical index KDJ opened and the MACD green column became shorter. At night Lun nickel or based on the $14000 / ton mark repeatedly tested upward to break through the 5-day moving average pressure. The evening macro figures were light.
Today, Shanghai Nickel 1809 opened at 111500 yuan / tonne. the macro-negative mood of imposing tariffs on each other in the Sino-US trade war was fully released in the early stage. on the contrary, after its formal implementation, the dust settled and the market mood was stable. At the beginning of the day, short positions were reduced, long positions were increased, and Shanghai nickel rose slightly, touching a high of 112210 yuan per ton. Then short power, constantly increasing positions, Shanghai nickel back to 111500 yuan / ton pass near. After a short consolidation, re-concussion upward, and then the center of gravity has been around 111850 yuan / ton up and down fluctuations. All day, Shanghai nickel main contract 1809 closed at Xiaoyang line, closing at 111830 yuan / ton, down 60 yuan / ton, down 0.05%. Volume decreased by 427000 hands to 626000 hands, and position by 3162 hands to 347000 hands. The 60-day moving average below is supported, the technical index KDJ of the daily line tends to converge, and the MACD has no obvious change from the green column. At night Shanghai nickel or around 111800 yuan / ton pass interval concussion.
SMM1# electrolytic nickel 111900 ≤ 112400 yuan / ton. Russian nickel is about 150 yuan / ton higher than Wuxi 1807 contract, Jinchuan nickel is about 450 yuan / ton higher than Wuxi 1807 contract. Jinchuan Company today electrolytic nickel (board) Shanghai quotation of 112500 yuan / ton, flat compared with Friday. Now the import window has been opened, there are bonded area sources into the country, but not yet fully in the spot market circulation. Traders are still short of goods in their hands. today's disk is up from last week, downstream transactions are not as active as last week, and steel mills are generally motivated to pick up goods. The market believes that later due to increased inventory, consumption in general, nickel prices continue to callback, now more in the wait-and-see. The mainstream transaction was 111900 ≤ 112,350 yuan / ton. Afternoon nickel price weak operation, but the transaction situation continued in the morning, all day transaction situation is general, not as active as last week. The mainstream transaction was 111900 ≤ 112,350 yuan / ton.