[SMM afternoon Review] Shanghai copper and Shanghai nickel rose by more than 1 per cent. The whole line of floating red iron ore rose by more than 5 per cent, leading to a collective rise in the black system.

Published: Jun 11, 2019 11:49 (GMT+8)
Source: SMM

SMM6 11-month news: this morning the non-ferrous metals market fluttering red, by noon close, Shanghai copper, Shanghai tin rose nearly 1.2%, Shanghai aluminum rose nearly 0.5%, Shanghai lead, Shanghai nickel rose nearly 0.3%, Shanghai zinc rose nearly 0.2%, Shanghai copper, Shanghai tin rose nearly 1.2%, Shanghai aluminum rose nearly 0.5%, Shanghai lead, Shanghai nickel rose nearly 0.3%, Shanghai zinc rose nearly 0.2%. On the aluminium side, a senior official at Hong Kong-listed Rusal (Rusal) said in an interview that the company was planning to issue panda bonds and rouble-denominated bonds. To provide funds for the company's new aluminum smelter.

Black system also rose collectively, iron ore rose nearly 5.6%, thread rose nearly 2.9%, hot roll rose nearly 2.3%, coke rose nearly 1.8%, coking coal rose nearly 1.3%; On the news side, domestic iron ore port stocks fell for five weeks to more than two years low, suggesting that downstream demand is still good, the impact of the Vale mine accident on the superimposed supply side has not completely dissipated, iron ore has been strengthened again and again, leading to the recovery of downstream timber.

Crude oil futures fell nearly 1.3% in the morning; on the news side, OPEC is cautiously increasing production, and OPEC+ may extend the production reduction agreement until the end of the year. Iran placed a nominal order of zero in May and June, but given the supply problems in Iraq, some Iranian oil is still in transit and the actual impact may be apparent by the end of June.

 

Spot today:

Zinc: Shanghai 0 # mainstream zinc transaction 21180 21200 yuan / ton, Shuangyan and Chihong 21240 21270 yuan / ton, 0 # ordinary June discount 100-70 yuan / ton; Shuangyan and Qihong sticker 30-20 yuan / ton. 1 # mainstream transaction at 2100 to 21130 yuan per ton. The center of gravity of the Shanghai Zinc 1906 contract rose in the middle of the day, closing at 21265 yuan per ton in the morning market. Zinc in the future is higher, the monthly difference is enlarged, and the spot discount is further expanded, from 70-60 yuan / ton to 100-80 yuan / ton, which is stable for the time being. There is already a certain profit margin for delivery, and some of the holders leave the market to wait and see. There are also holders who actively plan delivery of deliverable goods, and the trading between traders is dominant. During the second trading period, the import of SMC and Shuangyan, Chihong, Torch and other routine do not participate in the delivery brand delivery is relatively active, but under the limited conditions of downstream consumer participation, The transaction was slightly weak, and the overall transaction was not much higher than that of yesterday.

Tianjin market 0 # zinc ingot mainstream transaction at 21110 to 22610 yuan / ton, 0 # ordinary brand mainstream transaction at 21110 to 21270 yuan / ton, 1906 contract discount 150-discount 30 yuan / ton, Tianjin market than Shanghai market yesterday to discount 10 yuan / ton. The plate rose slightly, the refinery actively shipped, the circulation of goods in the market was relatively abundant, the shipowners shipped mainly, and the sources of high-priced brands such as Zijin were quoted near Pingshui of the 06 contract. Hongye, Chihong and lark and other low-cost brands quoted in the 06 contract discount of 100 yuan / ton, but the downstream is mainly wait-and-see, few receive goods. The subsequent holder downgraded the rising water, and for the Zijin brand report, the discount was about 30 yuan per ton for the 06 contract, and 150 yuan per ton for the low price brand such as Chihong. However, after the price adjustment, the market transaction has not been significantly heated up. Only a small number of low-cost brands contribute to a certain trading volume. Today, the trading atmosphere in Tianjin market continues to be light, and the overall transaction situation is worse than that of yesterday. 0 # Zijin, Hongye, laring, Chihong, Xiyan, etc., were sold at 21110 to 21270 yuan / ton, and 1 # Zijin, Chihong and Hongye were sold at 21060 to 21220 yuan / ton.

 

 

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