SMM, December 28 / PRNewswire-Asianet /-

This week, Tianjin market 0 # current zinc to Shanghai zinc 1901 contract water rise around 600 yuan / ton, rising water has expanded by about 200 yuan / ton compared with last week, Tianjin market compared with Shanghai market from last week's discount around 180 yuan / ton to discount around 1901 yuan / ton. The focus of the refinery's delivery this week has shifted, the market arrival volume has been reduced, the spot circulation has been tightened, and some holders have tried to push up the price. At the beginning of the week, it was reported that the water supply for the Shanghai Zinc 1901 contract increased by 700 yuan to 800 yuan per ton, but the consumption in Tianjin and Tianjin has not improved significantly. The overall transaction is not smooth, so the holder gradually lowered the rising water, and then the downstream is close to the New Year's Day holiday, slightly prepared, the transaction improved slightly on Friday, but the overall transaction was poor last week.

Tin: Lunxi closed on Tuesday and Wednesday for only three trading days, with no significant fluctuations in its center of gravity, closing at $19420 a tonne on Thursday, up $100a tonne from last Thursday. The total number of transactions in the week was 964 fewer than that of last week, and the number of positions was 15791 more than that of last week. The volatility of the dollar index intensified this week, mainly between 96.35 and 97.05, and recent concerns about the state of the US economy and the US government have led to a slight pullback in the focus of the US dollar, but the overall situation is still high and volatile. The weakness of the dollar provided some support for the trend of Lunxi.

The main tin contract in Shanghai this week went down, with a big drop on Tuesday and Wednesday, falling from 146600 yuan per ton to 144500 yuan per tonne. It closed at 144480 yuan per ton on Thursday, down 1370 yuan per ton from last Thursday. The total number of transactions increased by 1242 hands over last week, and the number of positions increased by 33994 hands over last week by 3054 hands. Shanghai tin center of gravity fell this week, mainly due to the weak spot market at the end of the year to weaken the supporting role of the market trend, Shanghai tin support below 143000 yuan / ton.

Spot prices in Shanghai and tin fell slightly this week, with mainstream 143000 to 145000 yuan / ton as of Friday, down 750 yuan / ton from Friday's average price. Within the week, the trading atmosphere is still weak, only part of the low price source transactions are OK, especially near the end of the year, many traders do not close the account, the transaction is more light. At present, the market Yunxi sets of goods to 1905 contract discount 300 to 500 yuan / ton, ordinary cloud word sticker 1000 to 1500 yuan / ton, small brand discount 1800 to 2000 yuan / ton, some small brands as low as 142500 yuan / ton sales, the end of the year selling phenomenon still exists. In addition, the mainstream smelter offer firmness has been loosened, Friday Yunnan Chengfeng cut the offer to 1445000 to 145000 yuan / ton; Yunxi company's offer was firm at 146000 yuan / ton.

Nickel: Monday's nickel low range concussion, due to Friday's good US order data, the US GDP in the third quarter met expectations, while the US government shutdown crisis before Christmas, US stocks were weak, the US dollar returned to 97, and the Lennie pressure range fluctuated. The market was closed on Tuesday and Wednesday, and as soon as trading opened after the holiday, nickel, dragged down by black and crude oil, continued to open low, refreshing the year's low of $10690 a tonne, a cloudy three days a week, and a weekly decline of nearly 1.5 per cent since last week. The position was reduced by more than 6, 000 hands to 210000, and the KDJ still opened its mouth to spread downward.

Domestic Shanghai nickel is also affected by macro, the first half of the week by the stock market, black and crude oil fell sharply, Shanghai nickel leakage, refresh the year low of 87400 yuan / ton. Global financial markets rallied in the second half of the week, stocks bottomed out, OPEC and planned production cuts in January are expected to support oil prices up more than 9 per cent, and black varieties have generally rebounded. Shanghai nickel stopped the decline, the center of gravity around the 87900 yuan / ton range consolidation. A large number of short positions have been increased this week. In addition to the influence of macro factors, the supply and demand of nickel itself is still weak, mainly because the downstream stainless steel demand coincides with the off-season of consumption, and the stainless steel inventory has been overstocked. Since November, some steel mills have reduced production and maintenance and consumed in-plant inventory. It was the weakest in the first quarter of next year. Shanghai nickel closed at the middle negative line this week, trading volume decreased 135000 hands to 2.458 million hands, position increased 35000 hands to 328000 hands, KDJ adhesion has a downward divergence trend.

Spot transactions, Russia and nickel than Wuxi 1901 contract weekly discount 75 yuan / ton, compared with last week narrowed 75 yuan / ton. Mainly due to the continued net consumption of domestic stocks this week, Russian nickel discount narrowed to flat water. This week Jinchuan nickel than Wuxi 1901 contract week average rising water 2800 / ton, compared with last week rising water narrowed about 2500 yuan / ton, the main reason market Jinchuan nickel overall transaction is not good, the demand is general. The spread between Jinchuan and Russian nickel narrowed to about 2500 yuan per ton from 5500 yuan last week. In terms of transactions, the overall transaction this week converged last week, and the nickel price continued to drain in the first half of the week. Downstream steel mills actively took goods to replenish the warehouse. In the second half of the week, state-owned enterprises and listed companies settled at the end of the month. Some traders also closed their accounts and had a holiday. The transaction was average. The overall deal was slightly weaker than last week. This week nickel bean patch 700 yuan / ton transaction, Jinchuan nickel transaction situation is still not good, the shipment is general.

Note: this article is only part of SMM Weekly, if you need to know more

Please contact: Liu Xiaoxia

Contact information: 51666822 13916447260