[SMM afternoon Review] Shanghai nickel rose nearly 1.4 per cent, non-ferrous iron ore rose 2.6 per cent, crude oil fell more than 2 per cent

SMM6 12-month news: today's non-ferrous metals market morning rise and fall mutually, as of noon closing, Shanghai nickel rose nearly 1.4%, Shanghai tin rose nearly 0.2%, Shanghai aluminum rose nearly 0.1%, Shanghai zinc fell nearly 0.1%, Shanghai copper fell nearly 0.3%, Shanghai lead fell nearly 1%; among them, nickel fundamentals, Indonesia rainstorm, so that the supply side has a certain concern, but at present the overall impact is not significant. At present, the contradiction of the industrial chain is still in the downstream demand, the current spot market transactions are showing a light situation, some stainless steel varieties continue to be slightly reduced prices, the demand side is generally weak.

In the black system, iron ore rose nearly 2.6%, thread and hot coil rose nearly 0.3%, coking coal fell nearly 0.5%, coke fell nearly 1.3%; yesterday, local special bonds can be included in major project capital and other advantages, marginal vibration infrastructure stable growth, the market long enthusiasm was detonated again, the stock market, black metal all up. The tension on the supply side of iron ore has improved to some extent, but the port inventory has dropped to 120 million tons, and the shipment volume of foreign mines and port arrival volume have fallen again, still strongly supporting the high operation of mining prices.

Crude oil futures fell nearly 2.2 per cent in the morning; the latest monthly report from the US Energy Information Administration (EIA) cut its forecast for global crude oil demand growth in 2019 and lowered its forecast for US crude oil production this year.

Spot today:

Lead: 1650 yuan / ton of lead in Shanghai market, 20 yuan / ton to Pingshui quotation for 1907 contract, 16070 yuan / ton of southern lead / ton, 50 yuan / ton of water rise of 1906 contract, 16120 yuan / ton of sand, 50 yuan / ton of water supply of 1907 contract. The futures market is weak, the quotation of the holder is in line with the market, and the demand of the battery market is low, coupled with the renewable refined lead to maintain discount shipment (150 yuan to 100 yuan / ton quotation for SMM electrolytic lead), part of the downstream although there is an inquiry, but there is a big difference between buyers and sellers, and there are few transactions in the bulk market.

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