[SMM afternoon Review] Shanghai Copper and Shanghai Nickel fell 1% Nonferrous Mutual rise and fall crude Oil fell 1.8% Black system most of the fluttering Green

Published: Jun 06, 2019 11:40 (GMT+8)
Source: SMM

SMM6, June 6: the non-ferrous metals market rose and fell this morning. By the end of the afternoon, Shanghai copper and Shanghai nickel fell nearly 1%, Shanghai aluminum fell nearly 0.6%, Shanghai tin rose nearly 0.1%, Shanghai lead rose nearly 0.2%, Shanghai zinc rose nearly 0.6%, and Shanghai copper and nickel fell nearly 1%, Shanghai aluminum fell nearly 0.6%, Shanghai tin rose nearly 0.1%, Shanghai lead rose nearly 0.2%, Shanghai zinc rose nearly 0.6%. From a basic point of view, on the supply side of nickel ore, nickel mine supply is adequate, basically worry-free. In terms of nickel and iron, Shandong Xinhai, the largest new production capacity in China, has been put into production and landed, the production of foreign nickel and iron projects has been continuously promoted, and the price is stable and weak. In terms of stainless steel, domestic stainless steel plants reduced production in June, and inventory fell sharply for the first time during the year in late May, but it is still at an all-time high in inventory, suppressing price formation. June is the traditional off-season, and demand is not expected to be optimistic.

In the black system, iron ore fell by nearly 2.3%, thread by nearly 0.9%, hot coil by nearly 0.8%, coking coal by nearly 0.3%, and coke by nearly 0.5%. In recent days, the macro mood has taken a turn for the worse, while expectations for steel demand are weak, steel mills are under increased pressure to push up prices, the industrial chain is facing profit redistribution, and the market as a whole lacks the driving force to rise.

Crude oil futures fell nearly 1.8% in the morning; on the news side, oil prices hovered near their low since January on Thursday, as rising supply and the economic slowdown dampened demand, putting continued pressure on the oil market, according to foreign sources on June 6.

 

Spot today:

Lead: Guangdong market Nanhua lead 16165 yuan / ton, the average price of SMM1# lead 40 yuan / ton quotation; southern storage south 16105 yuan / ton; 1906 contract water 50 yuan / ton; lead price shock operation, storage enterprises are still mainly wait-and-see careful mining, market transactions are light. Henan Yuguang and other smelters are mainly based on long single transaction, Jinli and Wanyang 16095 16125 yuan / ton, the average price of SMM1# lead discount 30 yuan / ton to flat water quotation; Lead price weak shock, storage enterprises wait and see, refineries scattered single flat water trading is difficult, market trading is general. Other areas such as: Hunan Shuikoushan 16175 yuan / ton, the average price of SMM1# lead 50 yuan / ton (traders), river copper 16175 yuan / ton, the average price of SMM1# lead 50 yuan / ton quotation; Large factories in Yunnan mainly trade in long single, small factories 15800 yuan / ton, the average price of SMM1# lead discount 250yuan / ton. Lead price range concussion is the main, refinery shipping mood is general, mainly to long single transaction.

Zinc: the mainstream of 0 # zinc ingots in Tianjin market is sold at 20810 to 22350 yuan / ton, the mainstream of 0 # ordinary brand is sold at 20810 to 20930 yuan / ton, and the discount for 1906 contract is about 40-20 yuan / ton. Compared with the Shanghai stock market, the Tianjin market rose 40 yuan per ton yesterday and moved to the vicinity of Pingshui. Refinery normal shipment, the market supply circulation is more abundant. The disk surface rose slightly, and the holders actively shipped the goods. In the morning, the quotations for ordinary brands focused on the discount of 40 to 50 yuan per ton for 06 contracts, and the sources of high-priced brands such as Zijin were quoted for 50 yuan per ton for 06 contracts. However, the consumer side in the lower reaches of June entered the off-season, and on Tuesday, the price fell, and there were more replenishment warehouses downstream. Today, the willingness to pick up goods downstream was not good. Subsequently, some Zijin shippers lowered their water supply by about 30 yuan / ton. Report in the vicinity of $20 per tonne for the 06 contract. After the price adjustment, there are some transactions, but Zijin brand supply of a small amount, still failed to contribute to a larger trading volume. Today, Tianjin market trading atmosphere continued light, coinciding with Dragon Boat Festival short holiday eve but still no reserve phenomenon, the overall transaction situation is poor yesterday. 0 # Zijin, Hongye, lark, Chihong, etc., were sold at 20810 to 20930 yuan / ton, and 1 # Zijin, Chihong and Hongye were sold at 20760 to 20880 yuan / ton.

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