SMM6 13 news: non-ferrous early trading mixed, the range is not large, Shanghai nickel, Shanghai tin slightly rose, Shanghai lead flat, Shanghai copper fell 0.6%, Shanghai zinc Shanghai aluminum slightly fell. Black fell across the board, bifocal lead fell by more than 1%, threads fell by 0.4%, iron ore and hot rolls fell by 0.3%.
(KCM), a Zambian Konkola company owned by Vedanta Resources (Vedanta Resources), said on Wednesday that it planned to restart its Nchanga copper smelter on June 22. KCM said in a statement that the Nchanga smelter had been idle until the copper concentrate arrived. It is reported that Gansu Aode Industry and Trade Group Co., Ltd. plans to resume production of lead and zinc mines in late June. Due to the Spring Festival holiday, the company stopped production at the end of January. Originally planned to resume production in March, but due to local road construction, the resumption of production has been repeatedly delayed. The raw mine of the company contains about 0.8% lead and about 4% zinc, and the daily processing capacity of the concentrator is 500t. It mainly produces lead concentrate 60%min and zinc concentrate 53% min, and is mainly sold to lead and zinc smelters in Shaanxi and Henan. The company has an annual production capacity of 1500 metal tons of lead concentrate and a monthly output of about 100 metal tons before shutting down production, which is currently out of stock. According to the SMM survey, the operating rate of galvanized enterprises in May was 81.13%, down 5.7% from the previous month and 5.46% from the same period last year. After gold 3 and silver 4, the terminal consumption is stable and weak, while the black raw material remains high due to cost reasons, under the double pressure, the finished product inventory of galvanizing pipe plant remains high and the cost upside down pressure has not been alleviated; in the late second quarter, in addition to rail crossing and tower demand continues to improve, infrastructure to galvanize consumption boost and no new growth point, galvanized start-up rate recorded a decline.
According to SMM tracking data, a total of 78 ships arrived at China's major ports from 6.2 to 6.8, with an estimated arrival volume of 11.27 million tons, a decrease of 2.98 million tons compared with the previous period. During the period, exports from Australia are expected to fall by 1.15 million tons to 14.54 million tons, while those from Brazil are expected to drop by 750000 tons to 6.23 million tons. Iron ore supply shortage continues, prices will continue to be strong trend. Iron ore rose and fell back yesterday, hitting a five-year high at one point, but uncertainty on the supply side still supports mining prices, and iron ore prices are likely to return to the frenzy of the previous few days at any time.
Crude oil fell more than 2%. Last night, EIA crude oil stocks increased by 2.2 million barrels, which is expected to decrease by 700000 barrels. Some market participants said that the current crude oil market does not have the conditions for continued strength, and crude oil prices fluctuated in June.
Today's forecast:
Copper: Shanghai copper overcast cross star, below temporarily 5, 20 adhesion support, MACD red column elongated, but the upper impulse is still weak, short force is strong. Waiting for guidance from the Federal Reserve on monetary policy. Spot due to near delivery, however, the contract spread in recent months has been maintained at about 30 yuan / ton, the superimposed market due to the entry of imported copper leads to abundant supply, the price quoted by the holder continues to be downgraded, and the mood of downward quotation will continue today. It is expected that today's London copper 5820 to 5870 US dollars / ton, Shanghai copper 46200 to 46700 yuan / ton, spot water 20-80 yuan / ton.
Aluminum: Shanghai Aluminum is still hovering around. It is expected that the 1908 contract of Shanghai Aluminum Company will run at 13900 to 14200 yuan / ton today, and the spot water will be 10 to 30 yuan / ton for the current month.
Lead: Lun lead still maintains a stable upward trend, but the pressure of the 60-day moving average above is greater, the breakthrough needs to cooperate with the trading volume, otherwise the short-term is still dominated by concussion. Shanghai lead near the 10-day moving average received short support, but yesterday the short came menacing, today pay attention to the level of support.
Zinc: Geneva zinc negative, under the shadow line under the 5, 10-day EMA support, with the U. S. Index down, Len zinc back up finishing, the current Len zinc fundamentals have little change, mainly dominated by macro mood, daily attention to the 5-day EMA support strength, Len zinc or run at 2500-2550 US dollars / ton. Shanghai zinc harvest, the lower 5, 20 days EMA to form a certain support, but the cumulative increase in warehouse receipts, the follow-up space is still limited, within a day or finishing operation at 20300 to 20800 yuan / ton. Material 0 # domestic to 1906 contract 110-sticker 60, Shuangyan sticker 40-sticker 20.
Tin: support is expected to be around $18500 / ton below Lunxi and around $19500 / ton above. It is estimated that the lower support of tin in Shanghai will be around 143500 yuan / ton, and the upper resistance will be around 146000 yuan / ton. Spot market, Shanghai tin last night high overall stability, is expected to maintain the mainstream trading price at 143500 to 145500 yuan / ton.
Nickel: nickel has broken through the 10-day moving average, stable above the 10-day moving average, later pay attention to the 20-day moving average of US $11950 / ton first-line pressure, predict that the 20-day average of US $11700 to US $11950 / ton; Shanghai Ni is supported by the 10-day moving average, pay attention to whether it can break through the 98000 yuan / ton barrier, Shanghai Ni 97000 to 98500 yuan / ton; spot price 97500 to 99000 yuan / ton.
