[SMM afternoon Review] Colored shock Adjustment under weak Thread-Shanghai Metals Market

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[SMM afternoon Review] Colored shock Adjustment under weak Thread

Translation 11:54:13AM Dec 10, 2018 Source:SMM

SMM, Dec. 10: Shanghai Copper fell 0.16%. The spot side expects that the frenzy for good copper will spread last week. After all, the good copper market is still in a state of tight supply, and flat copper is still in rigid demand for goods. The variation range of rising water will not be too large; Shanghai aluminum rose 0.63%, Shanghai zinc fell 0.78%, zinc low inventory operation logic is still valid, but international relations are expected to deteriorate, offset the positive return of Sino-US economy and trade to the negotiating table, the unstable environment is difficult to support the further rise of zinc prices; Shanghai lead rose 0.3%, Shanghai lead continued high consolidation pattern, short-term or direction choice. Shanghai nickel fell 0.41%. Today, the center of gravity of Shanghai nickel is expected to fluctuate around the US $10900 / ton range. Shanghai nickel main contract 1905 operating range 88500 / t / ton, spot price 88500 / t 98000 yuan / ton; Shanghai tin fell 0.22 per cent.

The black system has different ups and downs, the thread performance is weak, the thread is down 1.61%, the hot roll is down 0.25%, coke is stable, coke is up 0.38%, iron ore is up 0.49%.

Spot today:

Copper: today, the spot price of electrolytic copper in Shanghai is quoted for 110 yuan / ton to 450 yuan / ton, the transaction price of flat water copper is 49170 yuan / ton ~ 49240 yuan / ton, and the transaction price of copper is 49470 yuan / ton ~ 49540 yuan / ton. Shanghai copper pressure above the recent moving average, today copper hovered at 49000 yuan / ton line, the morning market to maintain last week's quotation style, the holder quoted flat water copper rising water of about 150 yuan / ton, good copper rising water of about 450 yuan / ton, high rising water to inhibit market transactions, The willingness of the market to receive goods is significantly lower than last week, the holder has no choice but to take the lead in lowering the copper quotation at about 430 yuan / ton, a small number of downstream replenishment, flat water copper pressure price space is enough, adjusted down to 120 to 130 yuan / ton quotation. Entering the second trading stage, the market was further downgraded while the transaction was on the sidelines. The quotation for good copper was reduced to about 400 yuan per ton of water, and the level of copper was as low as 110 yuan per ton of water. The quotation of wet copper has been reduced from 10 yuan to 20 yuan per ton in the morning market to about 10 yuan per ton of full discount. After 11:00, the market plummeted below $49000 per tonne. It has been heard that there are individual holders throwing good copper and rising water at 350 $380 per tonne. The market reaction is cautious and there is no one following the trend for the time being. Pay close attention to the performance of the two markets in the afternoon. Good copper shows a trend of rising water and falling back, flat water copper also has enough room to depress the price, the caution of rising water has initially shown a risk bias, and the wait-and-see of consumption can see that downstream copper prices lack confidence in the recovery of copper prices.

Aluminum: aluminum rose slightly that month, but not much, and performance fell back in the second trading phase. Shanghai transaction price concentrated in 13590 13600 yuan / ton, the current month discount 10 yuan / ton ~ flat water, Wuxi transaction price concentrated 13580 13600 yuan / ton, Hangzhou transaction price concentrated in 13620 13630 yuan / ton, today's mainstream transaction price rose more than 100 yuan / ton compared with Friday. Today, there is no obvious receiving behavior downstream, because the purchase price of some major traders is higher than the market expectations, the holders are active in selling goods, and traders are active in trading with each other, but the volume of shipments to the downstream is relatively reduced. Today, the overall transaction in East China is better.

Lead: Guangdong market Nanhua lead 18725 18775 yuan / ton, the average price of SMM1# lead discount 100 50 yuan / ton quotation; south 18875 yuan / ton, 1812 contract discount 80 yuan / ton quotation. The holder maintains the discount quotation, but the downstream receiving enthusiasm is limited, the bulk order market transaction is poor.

Henan Yuguang, Wanyang lead 1875 18825 yuan / ton, SMM1# lead average price 50 yuan / ton to flat water quotation (trader source), Minshan 1875 18800 yuan / ton, SMM1# lead average price 50 25 yuan / ton. Refinery scattered single low price cherish sale, quotation discount narrowed, downstream storage enterprises are not optimistic about the future market, procurement is still more cautious, market transactions are limited.

Anhui area copper crown lead 18950 yuan / ton, to SMM1# lead average price rises water 125 yuan / ton, Jiangxi area Jiang copper 18825 yuan / ton, to SMM1# lead average price level water quotation; In Shuikoushan, Hunan Province, 188 25 yuan / ton, 30 yuan / ton of SMM1# lead is quoted, 18625 yuan / ton of lead in other small factories, 200 yuan / ton of discount to SMM1# lead, 18625 yuan / ton of lead in other small factories, 200 yuan / ton of lead discounted to 1875 yuan / ton of lead in other small factories, 18825 yuan / ton of Shuikoushan, 18855 yuan / ton of lead in Shuikoushan, Hunan province. Yunnan small factory lead 1847518525yuan / ton, the average price of SMM1# lead discount 350300 yuan / ton quoted price. Refinery bulk order high price shipment, especially delivery brand quotation discount narrowed, and renewable refined lead price advantage is obvious, downstream according to the need to purchase, the overall market transaction is general.

Shanghai market southern lead 18905 yuan / ton, 1812 contract discount 50 yuan / ton, Jinsha lead 189 55 to 19005 yuan / ton, 1812 contract flat water to liter water 50 yuan / ton, import Harbin lead 1855 1855 yuan / ton, 1812 contract discount 400 yuan / ton quote. The futures market is high, the holders are selling at a low price, the quotation discount is narrowed slightly, at the same time, the refined lead is regenerated to maintain the deep discount, the downstream is afraid of falling carefully, and the trading in the bulk market is light.

Zinc: the mainstream of 0 # zinc ingots in Tianjin market is sold at 21430 to 23310 yuan / ton, and the mainstream of 0 # ordinary brands is sold at 21430 to 21510 yuan / ton. The water supply for 1901 contract is about 210 to 290 yuan / ton, which is about 20 yuan / ton more than last Friday. Compared with the Shanghai stock market, the Tianjin market changed from 150 yuan / ton discount on Friday to 100 yuan / ton discount. With the normal shipment of the refinery, the shipping enthusiasm of the shippers dropped slightly, which coincided with the downward trend of the plate and a slightly higher price. It was generally quoted that around 210 yuan / ton of rising water for the 1901 contract, the downstream was on the low side, and the enthusiasm for inquiry was relatively better. Superimposed part of the enterprise coincides with the production and procurement cycle, the overall procurement volume has rebounded slightly, today's overall transaction is slightly better than last Friday. 0 # Zijin, Hongye, lark, Qin zinc, Chihong, etc., were sold at 21430 yuan 21510 yuan / ton, and 1 # Zijin, Chihong, Hongye, western mine, etc., 21380 yuan 21460 yuan / ton.

Shanghai 0# ordinary mainstream transaction 21560-21620 yuan / ton, Shuangyan, Chihong mainstream transaction in 21920-21990 yuan / ton. 0# ordinary pair 1901 contract to raise water 350 to 400 yuan / ton; Shuangyan and Chihong to January to report a water rise of 720 to 750 yuan / ton. 1# the mainstream report is 21420 to 21500 yuan per ton. The Shanghai Zinc 1901 contract fell and rose, closing at 21220 yuan per ton in the morning market. Refinery shipment is normal, Monday return, the disk is obviously weak, traders trading a little cautious, the morning market shipment is OK, but the market consignee tends to SMM average price floating 5 to 10 yuan / ton, rise discount transaction is only sporadic. The holder's early market quotation has been fine-tuned from about 400 yuan / ton to 370 / 380 yuan / ton. Entering the second trading period, the market transaction is slightly dull, the holder passively adjusts the price to promote the transaction, the spot rising water is further adjusted to the rising water 350-360 yuan / ton, but the effect is not good; The downstream still maintained cautious wait-and-see, mainly rigid demand procurement, market transactions slightly weaker than last Friday.

Nickel: Russo-nickel than Wuxi 1901 contract discount 300yuan / ton, Jinchuan nickel than Wuxi 1901 contract liter 7300 yuan / ton. The ex-factory price of Jinchuan Company today is 96000 yuan / ton, down 500 yuan / ton from last Friday. Today's nickel price quoted against 1901, 1812 contract flat water to discount 100, the overall Russian nickel narrower than last week, Jinchuan nickel water down. In terms of transactions, nickel prices fell slightly today, downstream transactions in general, not as positive as Friday transactions, but better than the average situation in November. Jinchuan nickel goods are few, but the price has been down, electroplating alloy to take goods in general, not as good as Friday. The mainstream transaction is 87500 to 96500 yuan / ton.

Tin: at the beginning of this morning, the Shanghai tin market quickly fell to around 144100 yuan / ton and continued to consolidate in a narrow range. The mainstream transaction of Shanghai tin spot was 143500 yuan to 145000 yuan / ton, and the transaction was light. Yunxi 1901 contract water 500 yuan / ton, ordinary Yunzi flat water about, small brand discount 300 to 500yuan / ton, individual small brand in 143500 yuan / ton transaction.

[SMM afternoon Review] Colored shock Adjustment under weak Thread

Translation 11:54:13AM Dec 10, 2018 Source:SMM

SMM, Dec. 10: Shanghai Copper fell 0.16%. The spot side expects that the frenzy for good copper will spread last week. After all, the good copper market is still in a state of tight supply, and flat copper is still in rigid demand for goods. The variation range of rising water will not be too large; Shanghai aluminum rose 0.63%, Shanghai zinc fell 0.78%, zinc low inventory operation logic is still valid, but international relations are expected to deteriorate, offset the positive return of Sino-US economy and trade to the negotiating table, the unstable environment is difficult to support the further rise of zinc prices; Shanghai lead rose 0.3%, Shanghai lead continued high consolidation pattern, short-term or direction choice. Shanghai nickel fell 0.41%. Today, the center of gravity of Shanghai nickel is expected to fluctuate around the US $10900 / ton range. Shanghai nickel main contract 1905 operating range 88500 / t / ton, spot price 88500 / t 98000 yuan / ton; Shanghai tin fell 0.22 per cent.

The black system has different ups and downs, the thread performance is weak, the thread is down 1.61%, the hot roll is down 0.25%, coke is stable, coke is up 0.38%, iron ore is up 0.49%.

Spot today:

Copper: today, the spot price of electrolytic copper in Shanghai is quoted for 110 yuan / ton to 450 yuan / ton, the transaction price of flat water copper is 49170 yuan / ton ~ 49240 yuan / ton, and the transaction price of copper is 49470 yuan / ton ~ 49540 yuan / ton. Shanghai copper pressure above the recent moving average, today copper hovered at 49000 yuan / ton line, the morning market to maintain last week's quotation style, the holder quoted flat water copper rising water of about 150 yuan / ton, good copper rising water of about 450 yuan / ton, high rising water to inhibit market transactions, The willingness of the market to receive goods is significantly lower than last week, the holder has no choice but to take the lead in lowering the copper quotation at about 430 yuan / ton, a small number of downstream replenishment, flat water copper pressure price space is enough, adjusted down to 120 to 130 yuan / ton quotation. Entering the second trading stage, the market was further downgraded while the transaction was on the sidelines. The quotation for good copper was reduced to about 400 yuan per ton of water, and the level of copper was as low as 110 yuan per ton of water. The quotation of wet copper has been reduced from 10 yuan to 20 yuan per ton in the morning market to about 10 yuan per ton of full discount. After 11:00, the market plummeted below $49000 per tonne. It has been heard that there are individual holders throwing good copper and rising water at 350 $380 per tonne. The market reaction is cautious and there is no one following the trend for the time being. Pay close attention to the performance of the two markets in the afternoon. Good copper shows a trend of rising water and falling back, flat water copper also has enough room to depress the price, the caution of rising water has initially shown a risk bias, and the wait-and-see of consumption can see that downstream copper prices lack confidence in the recovery of copper prices.

Aluminum: aluminum rose slightly that month, but not much, and performance fell back in the second trading phase. Shanghai transaction price concentrated in 13590 13600 yuan / ton, the current month discount 10 yuan / ton ~ flat water, Wuxi transaction price concentrated 13580 13600 yuan / ton, Hangzhou transaction price concentrated in 13620 13630 yuan / ton, today's mainstream transaction price rose more than 100 yuan / ton compared with Friday. Today, there is no obvious receiving behavior downstream, because the purchase price of some major traders is higher than the market expectations, the holders are active in selling goods, and traders are active in trading with each other, but the volume of shipments to the downstream is relatively reduced. Today, the overall transaction in East China is better.

Lead: Guangdong market Nanhua lead 18725 18775 yuan / ton, the average price of SMM1# lead discount 100 50 yuan / ton quotation; south 18875 yuan / ton, 1812 contract discount 80 yuan / ton quotation. The holder maintains the discount quotation, but the downstream receiving enthusiasm is limited, the bulk order market transaction is poor.

Henan Yuguang, Wanyang lead 1875 18825 yuan / ton, SMM1# lead average price 50 yuan / ton to flat water quotation (trader source), Minshan 1875 18800 yuan / ton, SMM1# lead average price 50 25 yuan / ton. Refinery scattered single low price cherish sale, quotation discount narrowed, downstream storage enterprises are not optimistic about the future market, procurement is still more cautious, market transactions are limited.

Anhui area copper crown lead 18950 yuan / ton, to SMM1# lead average price rises water 125 yuan / ton, Jiangxi area Jiang copper 18825 yuan / ton, to SMM1# lead average price level water quotation; In Shuikoushan, Hunan Province, 188 25 yuan / ton, 30 yuan / ton of SMM1# lead is quoted, 18625 yuan / ton of lead in other small factories, 200 yuan / ton of discount to SMM1# lead, 18625 yuan / ton of lead in other small factories, 200 yuan / ton of lead discounted to 1875 yuan / ton of lead in other small factories, 18825 yuan / ton of Shuikoushan, 18855 yuan / ton of lead in Shuikoushan, Hunan province. Yunnan small factory lead 1847518525yuan / ton, the average price of SMM1# lead discount 350300 yuan / ton quoted price. Refinery bulk order high price shipment, especially delivery brand quotation discount narrowed, and renewable refined lead price advantage is obvious, downstream according to the need to purchase, the overall market transaction is general.

Shanghai market southern lead 18905 yuan / ton, 1812 contract discount 50 yuan / ton, Jinsha lead 189 55 to 19005 yuan / ton, 1812 contract flat water to liter water 50 yuan / ton, import Harbin lead 1855 1855 yuan / ton, 1812 contract discount 400 yuan / ton quote. The futures market is high, the holders are selling at a low price, the quotation discount is narrowed slightly, at the same time, the refined lead is regenerated to maintain the deep discount, the downstream is afraid of falling carefully, and the trading in the bulk market is light.

Zinc: the mainstream of 0 # zinc ingots in Tianjin market is sold at 21430 to 23310 yuan / ton, and the mainstream of 0 # ordinary brands is sold at 21430 to 21510 yuan / ton. The water supply for 1901 contract is about 210 to 290 yuan / ton, which is about 20 yuan / ton more than last Friday. Compared with the Shanghai stock market, the Tianjin market changed from 150 yuan / ton discount on Friday to 100 yuan / ton discount. With the normal shipment of the refinery, the shipping enthusiasm of the shippers dropped slightly, which coincided with the downward trend of the plate and a slightly higher price. It was generally quoted that around 210 yuan / ton of rising water for the 1901 contract, the downstream was on the low side, and the enthusiasm for inquiry was relatively better. Superimposed part of the enterprise coincides with the production and procurement cycle, the overall procurement volume has rebounded slightly, today's overall transaction is slightly better than last Friday. 0 # Zijin, Hongye, lark, Qin zinc, Chihong, etc., were sold at 21430 yuan 21510 yuan / ton, and 1 # Zijin, Chihong, Hongye, western mine, etc., 21380 yuan 21460 yuan / ton.

Shanghai 0# ordinary mainstream transaction 21560-21620 yuan / ton, Shuangyan, Chihong mainstream transaction in 21920-21990 yuan / ton. 0# ordinary pair 1901 contract to raise water 350 to 400 yuan / ton; Shuangyan and Chihong to January to report a water rise of 720 to 750 yuan / ton. 1# the mainstream report is 21420 to 21500 yuan per ton. The Shanghai Zinc 1901 contract fell and rose, closing at 21220 yuan per ton in the morning market. Refinery shipment is normal, Monday return, the disk is obviously weak, traders trading a little cautious, the morning market shipment is OK, but the market consignee tends to SMM average price floating 5 to 10 yuan / ton, rise discount transaction is only sporadic. The holder's early market quotation has been fine-tuned from about 400 yuan / ton to 370 / 380 yuan / ton. Entering the second trading period, the market transaction is slightly dull, the holder passively adjusts the price to promote the transaction, the spot rising water is further adjusted to the rising water 350-360 yuan / ton, but the effect is not good; The downstream still maintained cautious wait-and-see, mainly rigid demand procurement, market transactions slightly weaker than last Friday.

Nickel: Russo-nickel than Wuxi 1901 contract discount 300yuan / ton, Jinchuan nickel than Wuxi 1901 contract liter 7300 yuan / ton. The ex-factory price of Jinchuan Company today is 96000 yuan / ton, down 500 yuan / ton from last Friday. Today's nickel price quoted against 1901, 1812 contract flat water to discount 100, the overall Russian nickel narrower than last week, Jinchuan nickel water down. In terms of transactions, nickel prices fell slightly today, downstream transactions in general, not as positive as Friday transactions, but better than the average situation in November. Jinchuan nickel goods are few, but the price has been down, electroplating alloy to take goods in general, not as good as Friday. The mainstream transaction is 87500 to 96500 yuan / ton.

Tin: at the beginning of this morning, the Shanghai tin market quickly fell to around 144100 yuan / ton and continued to consolidate in a narrow range. The mainstream transaction of Shanghai tin spot was 143500 yuan to 145000 yuan / ton, and the transaction was light. Yunxi 1901 contract water 500 yuan / ton, ordinary Yunzi flat water about, small brand discount 300 to 500yuan / ton, individual small brand in 143500 yuan / ton transaction.