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June 6 SMM basic Metals spot Trading Day Review
Jun 6,2019 20:03CST
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Source:SMM
June 6 SMM basic Metals spot Trading Day Review
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SMM, June 6 / PRNewswire-Asianet /-

Copper: Yapan Lun Copper opened at US $5802.5 / tonne today. As the US dollar held steady near its high of 97.3after opening trading, Lun Copper maintained a narrow range of volatility, and its center of gravity was under pressure in the early afternoon. It fell slightly to the daily average of US $5799 per ton. The center of gravity rebounded slightly in the afternoon. After entering the European market, the US dollar fell somewhat, giving copper a chance to rise. As of 16-10, Lun Copper was at US $5838.5 / ton, up 0.76, and the US dollar index was at 97.21. U. S. crude oil is at $51.67 a barrel. The evening focused on the expected US trade account deficit of $50.7 billion in April, higher than the previous value. At present, the Lun Copper Yang entity above the pressure 5-day moving average, but the MACD green energy column obviously contracted, and recently many heads take advantage of the low market, conducive to the price rise. Waiting for guidance from the dollar and crude oil at night, test whether evening copper can break through the 5-day moving average of $5840 per tonne.

Today, the main contract of Shanghai Copper opened at 45990 yuan / ton in the morning. After the opening of trading, due to the active entry of short positions into the market, the copper price formed a concussion and weakened situation, and reached the lowest level of 46580 yuan / ton in the day, and settled at a low level near 45870 yuan / ton. Subsequently, the market rose slightly. In the afternoon, the center of gravity continued to move upward and remained near 46000 yuan / ton, during which it reached an intraday high of 46050 yuan / ton and closed at 46010 yuan / ton, down 440yuan / ton, or 0.95 per cent. Today, Shanghai Copper 1907 contract position increased by 900 hands to 212000 hands, and trading volume increased by 35000 hands to 128000 hands. Shanghai Copper 1908 contract position increased by 11000 hands to 200000 hands; contract position is only about 10, 000 hands, pay attention to 07, 08 contract exchange situation. The Shanghai Copper Index increased its position by 11000 hands to 615000 hands today, while trading volume increased by 124000 hands to 358000 hands. Last night, as a result of the sharp increase in crude oil stocks, oil prices hit a new low, and with the bright non-manufacturing data from the US ISM, the US dollar was boosted. Double factors put pressure on copper prices. Short positions actively entered the market, and copper prices fell below the 46000 yuan / ton mark. The dollar continued to stabilize at a high this morning, copper prices under pressure, continue to low shock finishing. Today, Shanghai copper closed at the physical Dayin column, the KDJ index cross weakened, MACD green column growth. The Shanghai copper market is closed at night because of the Dragon Boat Festival.

Today, the spot price of electrolytic copper in Shanghai is 130 yuan / ton to 190 yuan / ton, the transaction price of flat water copper is 45980 yuan / ton ~ 46060 yuan / ton, and the transaction price of copper is 46020 yuan / ton ~ 46100 yuan / ton. Overnight copper fell below US $5800 / ton, Shanghai copper heel fell below the position of 46000 yuan / ton, today copper prices hovered at 45900 yuan / ton line. The sharp fall in the market continued to push up the spot rising water, and the morning market holders raised their prices at 150 to 190 yuan / ton of rising water. Dragon Boat Festival short holiday is coming, the market risk aversion mood is high, the high rising water makes the market stop, it is difficult to close a deal, and the holder is eager to cash in before the festival. Take the initiative to lower the quotation, flat water copper quotation all the way down to 140 yuan / ton, good copper quotation 170 180 yuan / ton. In the second trading session, the transaction is still difficult, flat copper is once again down to 130 yuan / ton of water and there is room for pressure, the price of good copper has good resistance to decline, and the quotation of wet copper is relatively stable, maintained at the level of 50 yuan to 70 yuan per ton of water. Today is the last day of short holiday trading, the disk surface has plummeted, there are few downstream and traders in the market to replenish goods at a low price, the holders have difficulties in shipping, there is room for price reduction, and the overall trading atmosphere of the market has shown a cautious stop. The performance of the rising water will still be determined by the market risk index. In the afternoon, as the market holiday atmosphere is getting thicker and thicker, there is almost no quotation in the market, and some of the holders want to attract the downstream to take the goods, but there is no response. In the afternoon, copper water reported 120-130 yuan / ton of water, good copper reported 160-170 yuan / ton of water, the transaction price is in the range of 46060 yuan / ton-46150 yuan / ton.

 

Aluminum: Lun Aluminum jumped high at US $1770 / ton in the morning. After a sharp drop last night, it has a steady trend today, with a high of US $1773 / ton and a low of US $1766 / ton. The daily price difference is not more than US $10 / ton. As of 17:35, Lun Aluminum closed at 1770 US dollars / ton, up US $3.50 / ton, an increase of 0.2%. The third line of the daily KDJ is down, as the US dollar index is still high, while the fundamentals of foreign aluminum prices are still weak. Lun Aluminum is expected to rise sharply in the evening, and continue to pay attention to the relevant macro news and important data in the United States and the euro zone in the evening.

The 1907 contract of Shanghai Aluminum main Company opened at 14015 yuan / ton in the morning, fell below the Wansi pass in opening trading, and then was difficult to rise below the daily moving average. It fell all the way. During the period, although it tried to rise back, it eventually stopped at 14010 yuan per ton. Near the close, the lowest price in the day was 13950 yuan / ton, refreshing the lowest price since May 7. Today, it closed at 13950 yuan / ton, trading volume increased by 54900 hands to 132000 hands, position volume decreased by 3516 hands to 219000 hands, and the position moved backward. The main company 1907 closed in the middle vaginal line, below pierced the 60-day moving average, the center of gravity sank than yesterday, the daily MACD green column elongated, KDJ three lines down. Metal ups and downs during the day, although aluminum stocks continued to drop more than 60, 000 tons on Thursday, but the future consumption expectations are not strong superimposed macro negative atmosphere, it is difficult to go up unilaterally within the day, 1908 contract short positions significantly increased, we can see that the future market expectations are on the short side. Today's aluminum price trend is weak, pay attention to the release of relevant macro news during the holiday, closed in the evening.

The first trading stage of aluminum trading in that month was dominated by interval volatility. The spot prices of aluminum ingots in Shanghai and Wuxi were between 14050 and 14060 yuan / ton, which was about 50 yuan / ton lower than yesterday, and the market was up 10 to 20 yuan / ton, due to the slight widening of the price difference between the two months. Under the background of spot rising water, the holder is very active, and the downstream manufacturers take into account the fact that the price is lower than yesterday, the Dragon Boat Festival is about to be superimposed, the willingness to stock before the festival is increased, the purchasing volume is significantly higher than yesterday, and both buyers and sellers are active. After entering the second trading stage, the aluminum went down, and the transaction prices in Shanghai and Wuxi markets dropped to between 14030 and 14050 yuan / ton, which was about 70 yuan / ton lower than yesterday. For the current month, the rising water was 10 to 20 yuan / ton, and the transaction price in Hangzhou was between 14120 and 14140 yuan / ton. At this time, the market trading atmosphere is not as good as the previous stage, traders trading activity decreased, downstream morning has received good goods, at this time more wait and see, the actual transaction began to show a bit of stalemate. Overall, trading before noon today was better than yesterday. Afternoon aluminum to maintain a low shock, although the market quoted around 14020 yuan / ton, but the market trading is light, traders mostly rest ready for the holiday, the actual transaction is rare.

 

Lead: within a day, Lun lead opened at US $1862 / tonne. In the Asian session, the center of gravity of Lun lead slowly moved up at the beginning of the day, and when it entered the European session, the back structure of the lead LME 0-3 liter discount expanded to a new high of US $39 / ton in the past two years, and the upward pace of Lun lead accelerated. Coupled with a further drop of more than 1300 tons in LME lead stocks, Lun lead strengthened to US $1901 per tonne at one point, closing at US $1891.5 per tonne at 16-31, up US $34.50 / ton, or 1.86 per cent. Lun lead temporarily collected the Dayang line, running near the upper rail of Brin Road, and successfully stood on the 40-day moving average, if the US finger continues to be weak at night, it may add momentum to the upward movement of Lun lead.

Within a day, the main 1907 contract for lead in Shanghai was opened at 16010 yuan per tonne. At the beginning of the day, boosted by the strong trend of the external market, bulls showed signs of entering the market, prompting Shanghai lead to climb to 16145 yuan per ton at one time. After that, the lead in Shanghai was weak and fell back to 16080 yuan per ton. Finally, it closed at 16090 yuan per ton, up 75 yuan per ton, or 0.47 percent, and the position was reduced by 2852 hands to 46272 hands. Shanghai lead closed long foot Xiaoyin line, strong lead is still difficult to drive Shanghai lead to get rid of the weak trend, indicating that Shanghai lead in the fundamental turn of the road, it is more difficult to get out of the trend upward market, but the support of the bottom ten thousand six levels still exists. In the near future, we will focus on the supporting role of Wanliu psychological barrier. In addition, there is no night market before Dragon Boat Festival short holiday.

Shanghai market southern lead 16095 16115 yuan / ton, for 1906 contract water 40 60 yuan / ton quotation; 16080 yuan / ton, 1907 contract flat water quotation; Sands 16135 yuan / ton, 1906 contract water 80 yuan / ton quotation; Jiangsu and Zhejiang market Wanyang 16055 to 16095 yuan / ton, 1906 contract water 0 to 40 yuan / ton quotation. The futures market is weak, the holder once again downgrades the quotation to rise the water, and the downstream market consumption is depressed, some storage enterprises plan to reduce production, the Dragon Boat Festival reserve before the Dragon Boat Festival is less, the bulk single market transaction is few.

Guangdong market Nanhua lead 16165 yuan / ton, the average price of SMM1# lead water 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: Geneva Zinc opened at US $2460 / tonne. At the beginning of the day, the pressure fell back to US $2460 / t to find support, rose to US $2480 / t, and entered the European trading session. It was up $2529 a tonne, and then retreated slightly, closing up $2515, or $55, or 2.24 per cent, at 16-03. Geneva zinc stop yin and yang, attached to the shadow line broken 10-day EMA suppression, superimposed MACD index to form a gold fork, showing that the upward trend of Lun Zn is more obvious. LME zinc inventory recorded a continuous decline, superimposed strong rise in the internal market led to the upward, domestic rest at night, or around the 10-day moving average independent operation.

The main 1908 contract of Shanghai zinc was opened at 19945 yuan / ton at the beginning of the day, and the short position was reduced at the beginning of the day. The upward touch of Shanghai zinc was 20030 yuan / ton, and then the bulls left the Shanghai zinc market to find support around the daily average of 19930 yuan / ton, and Shanghai zinc rose strongly. Break 20000 yuan / ton integer level suppression, touch high 20295 yuan / ton. It closed up 20250 yuan per ton, up 375 yuan per ton, down 1.89 percent, with trading volume up 156000 hands to 328000 hands and positions down 15036 hands to 252000 hands. During the day, Shanghai zinc stopped yin and yang, broke the 5-day and 10-day EMA, and the KDJ index turned upward obviously, reflecting the strong action energy of Shanghai zinc. Mainly due to the domestic Shanghai, Guangdong and Tianjin social inventory recorded a small decline, giving zinc prices a certain degree of support. Within the day 06 and 07 contract monthly difference expanded to 610 yuan / ton, 06 and 08 contract monthly difference expanded to 1050 yuan / ton, the squeeze market continued, the near strong far weak pattern reflects the further strengthening, tonight domestic no night market.

Shanghai 0# zinc mainstream transaction 20840-20880 yuan / ton, Shuangyan, Chihong transactions in 20880-20910 yuan / ton, 0 # ordinary June discount 30-10 yuan / ton; Shuangyan, Chi Hong flat water-Shengshui 10 yuan / ton. 1 # mainstream transaction is between 20760 and 20820 yuan per ton. Zinc futures went up, and at the same time, the monthly difference was further expanded to about 520 yuan / ton. On the last trading day, the holder actively shipped the goods, and the willingness to lock in the plate profit was not strong. A small amount of transactions were made at a discount of 30 yuan to 20 yuan per ton. The transaction of 10 yuan / ton discount quoted by individual brands also shows that the trading between traders is more active, and the consignors are more willing to receive the goods at a low price. However, due to cost considerations, the holders have no intention of further price adjustment. And part of the downstream festival period holiday reserve demand is not strong, orders are not good, the procurement stock is relatively cold, the actual consumption is still weak, the overall transaction is basically flat compared with yesterday.

Guangdong 0 # zinc mainstream transaction in 20790 to 20870 yuan / ton, Guangdong market than Shanghai stock market from 30 yuan / ton discount to Pingshui near. The rising water of Shanghai zinc 1907 contract is about 490 yuan / ton. The zinc period is running at a low level, the refinery is shipping normally, in the morning period, the monthly difference is expanded, and the market is more confused about the quotation. Most of them are quoted near the average price, or the average price + 10, contributing to a certain transaction, and the rest are mainly quoted for the contract of the current month. Reported in the Shanghai Zinc 1906 contract discount of 30 to 20 yuan / ton. Entering the second trading period, the market price is stable in the vicinity of 1907 yuan / ton of zinc contract in Shanghai. Under the strength of the market, the rising water remained strong, and the holders were reluctant to take the initiative to lower the rising water. Subsequently, the transaction fell into a stalemate. Downstream is still dominated by rigid demand procurement, part of the downstream due to poor orders, Dragon Boat Festival holiday, so the pre-festival reserve has not been obvious. Overall, today's trading was flat, basically flat yesterday. 0# Kirin, Cishan, Tiefeng and Mengzi mainstream were sold around 20790 to 20870 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 20810 to 22350 yuan / ton, 0 # ordinary brand mainstream transaction in 20810 to 20930 yuan / ton, discount to 1906 contract 40-liter water 20 yuan / ton, Tianjin market than Shanghai stock market yesterday rose 40 yuan / ton to Pingshui nearby. 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.

 

Tin: after the opening of the $19060 / ton electronic disk today, there was little trading in the sub-session. After the opening of the European market, it quickly fell to $18935 / tonne before bottoming out and rose again. As of 18 / 00, the latest price was $18990 / tonne, showing a small negative line, with the physical part near the 5-10-day moving average. It is expected to support $18500 per tonne below and $19500 per tonne above. This evening, you can focus on the number of initial jobless claims in the United States for the week ended June 1 (10,000) and the U. S. trade account for April ($100 million).

Shanghai tin main 1909 contract last night after the opening of 143300 yuan / ton, the initial rush to 143700 yuan / ton, and then until the close of night, Shanghai tin all the way down with a small shock. This morning after the opening of 143150 yuan / ton to maintain the overall concussion situation, the lowest down to 142970 yuan / ton after a rapid rebound, in late trading returned to the opening price near, and finally closed at 143300 yuan / ton, up or down 0. The trading volume was 11242, an increase of 1212. The position is 42760 hands, a reduction of 244hands. Today, Shanghai tin continued to maintain a low consolidation trend, closed with a cross line, located near the 5-day moving average, is expected to support 142000 yuan / ton below Shanghai tin, and the upper resistance is around 144500 yuan / ton.

Shanghai tin main 1909 contract to maintain a low consolidation trend. Spot market mainstream trading price 142500 143500 yuan / ton, today is the last day before the Dragon Boat Festival, a small number of downstream enterprises stock before the festival, the overall trading atmosphere of the spot market is general. Set Yunxi liter water 100 yuan / ton, ordinary cloud word sticker 400 yuan / ton, small brand sticker 600 yuan / ton.

 

Nickel: the sub-plate opened at US $11720 per tonne. At the beginning of the day, the pressure-bearing daily average fluctuated downward, falling below the previous platform low of US $11625 per ton, the lowest level in nearly four months. Subsequently, nickel rallied, bearing a pressure of $11730 / ton first-line horizontal finishing. Entering the European session, Lennie pulled up, breaking the previous platform low of US $11750 / ton, touching US $11855 / ton. As of 17 / 00, it was quoted at US $11845 / ton. Evening attention will be paid to whether Lennie can hold steady at $11800 a tonne line. At night, we should pay attention to the year-on-year final value and quarter-to-quarter final value of GDP in the euro area, the deposit convenience interest rate, the marginal loan rate and the main refinancing rate of the European Central Bank, ECB President Draghi spoke after the policy meeting. The United States trade account (US $100 million) in April and the number of first-time jobless claims in the United States in the week of June 1 (10,000).

Shanghai nickel 1907 opened at 96470 yuan per ton today. In the afternoon, Shanghai nickel pressure of 95300 yuan / ton line, shock fell, down 94280 yuan / ton, falling below the low level before the platform hit the lowest level since February this year. Subsequently, Shanghai nickel rebound repair, won the daily average of 95600 yuan / ton first-line support narrow range shock, closed at 95700 yuan / ton. Throughout the day, Shanghai nickel closed in the lower shadow line Xiaoyin line, and the lower shadow line has pierced the boll line under the rail. The settlement price fell 630yuan / ton, or 0.65 per cent, from the previous day. Trading volume increased by 172000 hands to 827000 hands, and position volume decreased by 200 hands to 184000 hands. The opening of the daily line technology KDJ converges. There is no late trading this evening due to the Dragon Boat Festival holiday.

SMM 1 # electrolytic nickel 95450 to 96500 yuan / ton. In the morning, Russia and nickel than Wuxi 1906 universal discount 50 to flat water, Jinchuan nickel than Wuxi 1906 contract generally reported water 1000 yuan / ton, individual reported water 1100 yuan / ton. This week traders feedback transaction improvement, market prices continue to fall, 9.44 yuan and 95500 yuan / ton trading concentration in the morning, and traders are mostly rising water, discount 95500 yuan / ton basically do not want to close a deal. After 10:30, the disk continued to explore the bottom, refresh before the low, the downstream continued to bargain, followed by a rebound in prices, wipe all the decline on weekdays, downstream enthusiasm to take goods decreased. Jinchuan supply due to recent logistics reasons, Shanghai supply is slightly tight, and superimposed transaction improvement, rising water continues to pick up. Jinchuan ex-factory price quoted 96400 yuan / ton, down 800 yuan / ton from yesterday, the mainstream transaction at 95100-96500 yuan / ton. Afternoon nickel prices continued to rebound to 95500 yuan / ton, and then continued to rise, the lower reaches of the basic end of the procurement, this week has completed reserve demand. The mainstream transaction is 95500 to 96500 yuan / ton.

 

 

 

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