Home / Metal News / Copper / [SMM afternoon Review] Shanghai zinc fell more than 2 per cent, Shanghai nickel fell more than 1 per cent, colored multi-green crude oil tumbled 4.2 per cent, black series green fat, red and thin
[SMM afternoon Review] Shanghai zinc fell more than 2 per cent, Shanghai nickel fell more than 1 per cent, colored multi-green crude oil tumbled 4.2 per cent, black series green fat, red and thin
Jun 4,2019 12:09CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM6, April 4: green manure is red and thin in the non-ferrous metals market today. By the close of the afternoon, Shanghai zinc fell nearly 2.1%, Shanghai nickel fell nearly 1.2%, Shanghai aluminum fell nearly 0.7%, Shanghai lead fell nearly 0.6%, Shanghai copper rose nearly 0.3%, and Shanghai zinc fell nearly 2.1%, Shanghai nickel fell nearly 1.2%, Shanghai aluminum fell nearly 0.7%, Shanghai lead fell nearly 0.6%, Shanghai copper rose nearly 0.3%. Shanghai tin rose nearly 0.5%; Among them, nickel, spot, according to SMM, Russian nickel than Wuxi 1905 discount 100 yuan / ton, Jinchuan nickel than Wuxi 1905 contract water 600 yuan / ton, the mainstream transaction in 97200 to 97900 yuan / ton. According to SMM, compared with expectations, stainless steel plants have reduced production and procurement by less than expected, but it is precisely because of the high operating rate, the pattern of oversupply of stainless steel is difficult to change, and its shipment situation continues to be poor. All the indexes are still significantly lower than the withered glory line. On the demand side, stainless steel inventories continue to rise slightly and remain at record highs, while downstream consumption remains weak.

In the black system, coke and iron ore have increased by nearly 0.3%, coking coal by nearly 0.1%, thread by 0.1%, hot coil by nearly 0.5%, the implementation of production restrictions in the north is not strict, and the start-up of blast furnaces and electric furnaces throughout the country is at a high level. Thread production fell slightly this week, but it is still at an all-time high, and the subsequent high steel production will continue. In the near future, the heat of demand has obviously cooled, apparent consumption, market transactions and terminal purchases have all declined month-on-month, thread inventory has declined, and hot coil inventory has accumulated.

Crude oil futures plunged nearly 4.2% in early trading, according to foreign news on June 4. Oil prices came under pressure on Tuesday as the economic slowdown began to affect fuel consumption. But Saudi Arabia said a consensus was emerging for OPEC+ producers to remain committed to market stability in the second half of the year, providing some support for prices.

 

Spot today:

Copper: today, the spot price of electrolytic copper in Shanghai is 80 ~ 150 yuan / ton, the transaction price of flat water copper is 46270 yuan / ton ~ 46340 yuan / ton, and the transaction price of copper is 46330 yuan / ton ~ 46390 yuan / ton. Shanghai copper recovered slightly from yesterday, copper prices along 46200 yuan / ton shock finishing. Today, the spot quotation is still strong, the market immediately reported 80 to 140 yuan / ton, flat water copper first ushered in a wave of positive trading, flat water copper quotation on the rising water 100 to 110 yuan / ton; Good copper tried to follow the rise, but good copper trading atmosphere is slightly inferior to flat copper, stop at 150 yuan / ton water is difficult to make a difference; wet copper comprehensive water price, with the market adjusted to 20 yuan / ton water discount 50 yuan / ton. The market normal circulation goods source is limited, causes the holder quotation to be firm, today the trader transaction continues to dominate the market, the risk intention causes the spot to rise condescending.

Aluminum: the opening of the aluminum month performance shock down. The transaction price in Shanghai is between 14070 and 14090 yuan / ton, which is about 80 yuan / ton lower than yesterday. For Pingshui to Shengshui 10 yuan / ton in that month, the spot price in Wuxi is between 14070 and 14090 yuan / ton, and the transaction price in Hangzhou is between 14120 and 14140 yuan / ton. Today, the shipping rhythm of the shipowners has maintained a normal state, as the spot aluminum price has fallen for seven days in a row before noon, in line with the psychological price of the market, the superimposed spot circulation is not as loose as the previous period, and some traders and downstream manufacturers have significantly increased their willingness to receive goods on the low side. Receiving the goods today is more active than it was a few days ago. Today, the overall transaction in East China is better.

Early afternoon aluminum shock down, today's Guangdong market transaction prices concentrated in 14160 14170 yuan / ton, Guangdong-Shanghai price difference maintained at 80 yuan / ton. Due to the decline in absolute prices, traders have increased the number of indirect buyers and active trading, and local downstream enterprises have also prepared goods due to the approach of the Dragon Boat Festival holiday. Overall, spot transactions of aluminum ingots in South China today are more active, unchanged from yesterday.

 

Lead: Shanghai market southern lead 16030 to 16050 yuan / ton, 80 to 100 yuan / ton for 1906 contract, 16100 yuan / ton for sands, 200 yuan / ton for 1907 contract; Jiangsu and Zhejiang market Wanyang 16020 to 16030 yuan / ton, 1906 contract water 70 to 80 yuan / ton quotation. The futures market fell again, while the maintenance of the original lead refinery increased, and the holders raised the price to ship the goods, and some of the quotations were raised by 10 to 20 yuan per ton, while the demand of the downstream battery market was not strong, and the storage enterprises were not optimistic about the future market. Carefully wait and see. The transaction activity of bulk market is average.

Zinc: Shanghai 0 # mainstream zinc transaction is 20500 to 20580 yuan / ton, Shuangyan and Chihong is sold at 20550 to 20640 yuan / ton, 0 # ordinary June discount is 20 yuan / ton-flat water; Shuangyan and Chi Hong reported rising water 40 to 60 yuan / ton. 1 # the mainstream transaction was between 20440 and 20520 yuan per ton. The center of gravity of the Shanghai Zinc 1906 contract moved down again, closing at 20535 yuan per ton in the morning market. Zinc futures have dropped sharply, smelters have cherished sales, and traders are still mainly engaged in shipping, but the willingness to receive goods in the market has improved obviously, and the transaction between traders in the morning market is dominant, and the market quotation is concentrated in the discount of 20 yuan to 10 yuan per ton. The proportion of net average price floating is slightly reduced. In the second trading period, downstream participation increased significantly, traders brought orders into the market to receive and purchase goods, the market trading force was balanced, the quotation rose to about Pingshui, and a small amount of water was quoted at a discount of about 10 yuan per ton, and the transaction performance was significantly improved compared with the previous period. The actual consumer participation increased significantly, the overall transaction improved compared with yesterday, and the transaction volume increased slightly compared with yesterday.

Guangdong 0 # zinc mainstream transaction in 20450 20630 yuan / ton, Guangdong market than Shanghai market from 20 yuan / ton discount to 40 yuan / ton gold plating. The increase of water for Shanghai Zinc 1907 contract is about 350 RMB / t. Plate down, refineries slightly cherish the sale, the holder of the normal shipment, early in the overall continuation of the average price as the main means of trading, of which the average price, as well as the average price-10 contribution to a certain amount of transactions. Entering the second trading period, the market pricing was about 370yuan / ton for Shanghai Zinc 1907 contract, and the difference between Shanghai Zinc 0607 was enlarged in July. However, due to the saturation of long single demand and the fear of falling downstream, there was no obvious follow-up. Only a small increase of 10 yuan / ton to Shanghai zinc 1907 contract rising water around 380 yuan / ton, the subsequent downstream rigid demand to buy, superimposed some traders arbitrage to receive goods, the transaction has improved, overall, today's trading is flat, only slightly better than yesterday. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in the 20450-20630 yuan / ton.

The mainstream of 0 # zinc ingots in Tianjin market was sold at 20480 yuan / ton, and the mainstream of 0 # ordinary brand was sold at 20480 yuan / ton. The water supply for 1906 contract was about 100 yuan / ton. Tianjin market continued to rise about 50 yuan / ton compared with Shanghai stock market yesterday. The main trend of 0 # zinc ingots in Tianjin market was 20480 yuan / ton, and the mainstream of 0 # zinc ingots in Tianjin market was 20480 yuan / ton. Zinc prices went down, refineries slightly cherished sales, and the circulation of goods in the market decreased slightly. The holder actively pushed up the price, and in the morning, the quotation for the ordinary brand focused on the 06 contract from flat water to 50 yuan per ton, and on the Zijin and other high-priced brands, the water increased by about 100 yuan per ton for the 06 contract, but there was a strong fear of falling downstream. There is no strong willingness to accept the goods for the time being. Then entered the second trading period, the holder once again downgraded the rising water to 06 contract flat water to rising water 30 yuan / ton, the market shows the willingness to buy on the low replenishment warehouse, the transaction improved. Disk down, today's Tianjin market trading atmosphere slightly warmed up, the overall transaction situation slightly improved compared with yesterday. 0 # Zijin, Hongye, lark, Chihong, etc., were sold at 20480 yuan / ton, and 1 # Zijin, Chihong, Hongye, etc., were sold at 20430 yuan / ton.

Nickel: in the morning, Russia and nickel than Wuxi 1906 universal discount 100 to 50 yuan / ton, Jinchuan nickel than Wuxi 1906 contract generally reported water 800 yuan / ton. After the market price fell to around 96700 yuan / ton this morning, the market activity was higher than yesterday, and the feedback transaction from traders was improved compared with yesterday. The warehouse in the early stage of the lower reaches was thicker and lower. Now the absolute price is suitable, so we began to enter the market to purchase. 96700 yuan / ton market price transaction concentration, but the overall buying rhythm is cautious. Jinchuan rising water has slightly higher, mainly because this week Jinchuan supply is a little tighter than before. Jinchuan ex-factory price quoted 97200 yuan / ton, down 500 yuan / ton from yesterday, the mainstream transaction at 96600-97300 yuan / ton.

Tin: Shanghai tin main 1909 contract this morning after the opening of the first suppression and then rise, the latest price is 143700 yuan / ton. Spot market, the mainstream trading price of 142500 to 143800 yuan / ton this morning, with the rise of Shanghai tin plate, the price of sets of goods followed the rise, fixed price small plates are favored, some traders and downstream enterprises receive a small amount of goods. The overall transaction atmosphere of the spot market is general. Set Yunxi liter water 100 yuan / ton-flat water, ordinary cloud word sticker 400 yuan / ton, small brand sticker 600 yuan / ton.

 

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