Metals News
[SMM afternoon Review] Thread Iron Mine fell more than 2 per cent consumption expectations optimistic Shanghai Zinc Station 10-day moving average
The content below was translated by Tencent automatically for reference.

SMM February 20 news: Shanghai Copper rose 0.65%, the current Lun Copper, Shanghai Copper technology is supported by multiple advantages, prices are expected to still have upward space today. Spot, due to the market rose sharply, the market is expected to be afraid of the current high, transactions blocked; Shanghai aluminum rose 0.22%; Shanghai zinc rose 0.35%, and Shanghai zinc recorded a 3-day upward breakthrough in the 10-day EMA. The current seasonal accumulation pressure is more obvious at the spot end, but the futures market is still optimistic about consumption expectations. If there is no accident, before the consumption verification falls to the ground, Zinc will run the platform; Shanghai lead fell 0.18%, market trading is relatively light, on-and-off funds are mainly wait-and-see, there is expected to be a clear direction in the near future; Shanghai nickel rose 1.11%; Shanghai tin rose 0.63%.

Spot today:

Copper: today, Shanghai electrolytic copper spot to the current month contract discount 180 yuan / ton ~ discount 60 yuan / ton, flat water copper transaction price 49300 yuan / ton ~ 49380 yuan / ton, rising water copper transaction price 49400 yuan / ton ~ 49480 yuan / ton. Overnight copper rose, Shanghai copper rose, today copper prices along the 49500 yuan / ton line shock. Today, the throwing mood of the holders has eased, the market has basically maintained yesterday's quotation, the good copper quotation has stabilized in the range of 80 yuan to 60 yuan per ton, the low price source has attracted traders to buy, and the flat copper delivery is still hesitant and hesitant. Traders continue to use the price reduction method, concentrated in the discount around 180 yuan / ton, downstream to maintain rigid demand to replenish the warehouse, wet copper is still weak, how difficult to digest the goods, quotations as low as 330 yuan / ton discount. Today, the larger discount source of goods transactions have advantages, some high price traders transaction is slightly delayed, later pay attention to the changes in the disk surface and the response of traders, pay attention to whether the downstream buying power can be improved.

Aluminum: aluminum will maintain a narrow range of oscillations before noon of the current month. The mainstream transaction price in Shanghai is between 13380 and 13390 yuan / ton, an increase of more than 30 yuan / ton over the previous day. The spot price is 70 ~ 60 yuan / ton, Wuxi transaction price is 13380 to 13390 yuan / ton, and Hangzhou transaction price is between 13380 and 13400 yuan / ton. Today, there is an adequate supply of goods in circulation in the market. Although the shipment is positive, the actual transaction performance is not as good as yesterday. The normal purchase volume of Chinalco is larger, which will drive the trading between middlemen. Today, there is no procurement in East China. The East China market is affected by it. The market transaction performance was mediocre today. Downstream basic on-demand procurement, there is no obvious bright spot.

Lead: Shanghai market southern lead 16785 to 16835 yuan / ton, for 1903 contract flat water to liter water 50 yuan / ton quotation; sands 16885 yuan / ton, 1903 contract liter water 100 yuan / ton quotation. The futures market basically replicates the trend of yesterday's day, the quotation of the holder follows the market, at the same time, the downstream has basically completed the resumption of work, and the lead ingot is replenished on demand, but because March-April is the off-season of traditional consumption, the production of storage enterprises is relatively cautious. The atmosphere of market transaction is general.

Zinc: the mainstream of 0 # zinc ingots in Tianjin market traded at 21680 to 22500 yuan / ton, and the mainstream of 0 # ordinary brands traded at 21680 to 21750 yuan / ton, about 40 yuan to 100 yuan / ton for 1903 contract, which is basically the same as yesterday. Tianjin market than the Shanghai stock market from yesterday's discount of 20 yuan / ton to Pingshui. With the normal shipment of the refinery, the stock in Tianjin has increased cumulatively, giving the holder a certain degree of shipping pressure, and taking the initiative to lower the water supply report in the vicinity of 40 to 100 yuan / ton for the 1903 contract, and in terms of consumption, the zinc consumption today is high, and the superimposed rising water is much higher than that of a year ago. Most of the downstream enterprises have chosen to wait and see, the willingness to take goods is not good, only a small amount of rigid demand procurement, the overall transaction today is light, basically flat yesterday. 0 # Zijin, Hongye, Bailing, Qin Zinc, Chihong, etc., were sold at 21680 21750 yuan / ton, and 1 # Zijin, Chihong, Hongye, West Mine, etc., 2163021700 yuan / ton.

Nickel: Russian-nickel than Wuxi 1903 flat water, Jinchuan nickel than Wuxi 1903 contract liter water about 300yuan / ton. Russian nickel from discount to flat water, traders generally reflect that the inventory is not high, after the Spring Festival downstream and traders replenish the warehouse is relatively active, and the import window continues to close. Jinchuan nickel is generally reported to rise 300 yuan / ton, traders actively pay attention to Jinchuan nickel rising water, most think that the rising water is likely to continue to rise. Jinchuan company actively shipped today Jinchuan company factory price of 100800 yuan / ton, up from yesterday 1000 yuan / ton. The mainstream transaction is 100650 to 101000 yuan / ton.

SMM midday Review
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