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June 13 SMM basic Metals spot Trading Day Review
Jun 13,2019 19:01CST
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Source:SMM
June 13 SMM basic Metals spot Trading Day Review
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Copper: Yapanlun copper opened at US $5849 / ton today, and its center of gravity rose slightly to close near US $5860 / ton, rising US $5864 / ton during the period, and then taking advantage of the high position, the copper price fluctuated all the way down until it entered the European market. In early European trading, copper prices rebounded as a result of increased downside risk in the US dollar, but showed weakness after rising US $5855 per tonne, and subsequently announced that LME copper stocks increased by more than 37000 tons, and copper prices dipped into US $5811.5 per tonne before recovering slightly. As of 17-50, Lun Copper was at US $5823 / tonne, down 0.46%. The US dollar index was at 96.964, and US crude oil was at US $52.63 / barrel. In the evening, the number of initial and renewed claims for unemployment benefits in the United States and the Import Price Index were announced in the evening. At present, the negative entity of Lun Copper fell below the 5-day moving average, the KDJ curve turned downward, and the technical side became weaker. Wait for guidance from the dollar and crude oil at night to test whether Lentong can hold the $5800 / tonne mark below.

Today, Shanghai Copper main contract 1908 opened at 46420 yuan / ton in the morning, immediately after the opening of the day reached the highest level of 46480 yuan / ton, and then short actively joined the WTO, the market all the way down to 46250 yuan / ton. In the afternoon, the center of gravity moved up slightly to around 46300 yuan / ton, during which it tried to reach 46360 yuan / ton, but due to the lack of market confidence, it was difficult to stand firm, so it fell to the lowest point of the day, 46210 yuan / ton, and closed at 46270 yuan / ton. It fell 430 yuan per ton, or 0.92 percent. Today, Shanghai Copper 1908 contract position increased by 13000 hands to 245000 hands, while trading volume decreased by 14000 hands to 140000 hands. Shanghai Copper 1906 contract is nearing delivery, today's position was reduced by 8270 hands to 13000 hands. The Shanghai Copper Index rose 11000 hands to 620000 today, while trading volume fell 39000 hands to 278000. Yesterday released the US May core CPI data less than expected, interest rate expectations are obvious, but the recent Fed interest rate cut expectations were gradually digested by the market ahead of time, the United States Index fell in the short term immediately after the rebound, copper prices under pressure, today the dollar continues to fluctuate around 97, copper prices as a whole continued to decline. Today, Shanghai copper continued to close negative, KDJ index opening down expansion, MACD index red column shortened, technical face copper price lack of obvious support. In the evening, wait for the guidance of the outside market to test whether Shanghai Copper can hold the 46000 yuan / ton gate.

Today, the spot price of electrolytic copper in Shanghai is 40 ~ 90 yuan / ton, the transaction price of flat water copper is 46240 yuan / ton ~ 46400 yuan / ton, and the transaction price of copper is 46280 yuan / ton ~ 46440 yuan / ton. Copper futures adjustment fell back to 46200 yuan / ton line. The sentiment of market throwing has been slightly alleviated. In the morning, the holder continued to quote 50 to 90 yuan / ton yesterday. There is a positive inquiry from traders and a willingness to receive goods at a low price. Good copper 80 yuan / ton, flat copper can be pressed to 40 yuan / ton, wet copper 20 yuan / ton ~ flat water, the transaction is OK, in the second trading period, the holder has no intention to continue to reduce prices, the quotation is firm in the flat water copper 50 yuan / ton line, the price is strong in the flat water 50 yuan / ton line, the wet process copper quotation 20 yuan / ton ~ flat water, the transaction is OK, the second trading period, the holder has no intention to continue to reduce the price, the quotation is firm in the flat water copper water 50 yuan / ton line, As a result, the stalemate pattern is repeated, and the atmosphere of market transactions has also become lighter. Today, the market changed yesterday's rising water continued to decline smooth performance, traders both difficult to find low-priced supply, but also difficult to sell strong supply, the market performance of supply and demand saw characteristics. The second trading session spread to about 50 yuan / ton, which is also one of the reasons why holders are unwilling to ship at a low price. Close to delivery, the disk has once again experienced a downward crisis. In terms of market performance, low prices and rising water may still be attractive to the market. In the afternoon, although the price continued to fall, but the market transaction is still light, the holder slightly relaxed cut the good copper quotation, but the flat copper is still strong. In the afternoon, copper water 40-50 yuan / ton, good copper 70-80 yuan / ton, transaction price in the range of 46230 yuan / ton-46310 yuan / ton.

Aluminum: Lun Aluminum opened high at US $1790 / ton in the morning, hovered around US $1783 / ton under a lack of power, and then stepped down the ladder to continue to explore lower, touching the lowest point of the day at US $1776.5 / ton, as there was still some support below, and then went up along the 5-day moving average to recover some of its decline, returning to the high level around US $1788 / ton. as of 18:30, Lun Al closed at US $1787 / ton, up 0%. Close at the Xiaoyin line, the daily MACD red line elongated, but the daily K line center of gravity is still below the 20-day moving average, is expected to continue to fluctuate in the evening in the range of $1800 / ton, evening focus on macro data such as the dollar index and last week's quarterly unemployment adjustment.

The 1908 contract of Shanghai Aluminum main Company opened at 13980 yuan / ton in the morning. In the first trading stage, it gradually went down, fell below the daily moving average, and stopped near 13930 yuan / ton. After the start of the second trading stage, Shanghai Aluminum began to rise at a low level. However, the resistance of the above 60-day moving average was stronger. Shanghai Aluminum was blocked at 13965 yuan / ton, and then dropped to a low level of 13925 yuan / ton within a day. It floated up at 13955 yuan / ton, down 20 yuan / ton, down 0.14%. Trading volume decreased by 12324 hands to 60366 hands, position increased by 6456 hands to 237000 hands, closed at the Xiaoyang line, but still below the 10-day moving average, the daily MACD green line shortened, the KDJ third line seems to have an upward trend, is expected to continue to maintain range volatility above 13900 yuan / ton in the evening, and pay attention to the impact of market atmosphere on traders' confidence at night.

Aluminum futures floated at the start of the month, with a larger decline in the second stage of trading. Before 11:00 in the morning, the trading price in Wuxi was concentrated between 14040 and 14050 yuan / ton, and the rising water on the plate surface was about 10 yuan / ton. After 11:00, the spot price dropped rapidly, and the spot price began to fall between 14020 and 14040 yuan / ton. The rising water on the plate was between 10 yuan and 20 yuan / ton, a small amount of spot price was around 14010 yuan / ton, and the transaction price in Hangzhou was between 14060 yuan and 14080 yuan / ton. In the early stage, a large household purchased more than 10,000 tons in East China, and the holders shipped actively. Although the traders offered each other actively but compared the prices with each other, the actual transaction was average. After 11:00, due to the rapid decline in prices, the market trading atmosphere became lighter, and the wait-and-see mood was prominent. At this time, the actual trading volume is less. Downstream today to receive goods is not much, procurement enthusiasm is not high. Today, the overall transaction in East China is poor. Afternoon aluminum to maintain a wide range of volatility, market prices are chaotic, between 14020 and 14060 yuan / ton, but the actual transaction is few, the downstream performance is also light.

Lead: within a day, Lun lead opened at US $1892 / tonne. In the Asian session, at the beginning of the day, Lun lead was briefly consolidated, and then affected by the weak trend of the inner plate. In the afternoon, the US Index continued to weaken, giving Lun lead a strong confidence again. In the European period, the center of gravity of Lun lead moved up faster, and once hit US $1901 / ton, as of 17 / 22, Lun lead temporarily received US $1898 / ton, and in the European period, the center of gravity of Lun lead moved up faster and hit US $1901 / ton at one time. As of 17 / 22, Lun lead temporarily received US $1898 / ton. It rose US $5.50 a tonne, or 0.29 per cent. Lun lead temporarily closed Xiaoyang line, the 5-day EMA trend flattened, and formed a support, but there is a strong pressure above the 60-day EMA, so the night Lun lead may still be dominated by interval concussion, and the bottom will be supported by the 5-day EMA, and the upper part will be under pressure at the 60-day EMA.

Within a day, Shanghai lead main 1907 contract opened at 16115 yuan / ton, early in the day, some short profits left the market, Shanghai lead slightly rose to 16170 yuan / ton, after the renewable refined lead discount continued to expand, some bulls panic left the market, Shanghai lead recorded an intraday low of 16025 yuan / ton, near the close, the overall strength of non-ferrous metals, Shanghai lead also recovered slightly, finally closed at 16065 yuan / ton, down 75 yuan / ton, down 0.46%, the position decreased 2224 hands to 43966 hands. Shanghai lead report closed the upper film Xiaoyang line, stopped falling and stabilized, along the middle track of Bolin Road, the medium-and short-term EMA trend flattened, and the lower 10,000 integer gate is still supported, it is expected that Shanghai lead may wander around Wanliu at night.

Shanghai market Muron lead 16060 16090 yuan / ton, 1907 contract 30 yuan / ton to flat water quotation; southern lead 1609516115 yuan / ton, 1906 contract water 20 40 yuan / ton quotation; sand 16140 yuan / ton, 1907 contract water 50 yuan / ton quotation. The futures market continues to be weak and volatile, and the holders have downgraded the rising water one after another, while the large storage enterprises are mainly based on the purchase of long orders, and the bulk orders are actively not high, and the market trading is light.

Guangdong market Nanhua lead 16175 yuan / ton, the average price of SMM1# lead water 50 yuan / ton quotation; southern storage south 16125 yuan / ton, 1906 contract water 50 yuan / ton; Guangdong area continuous rainfall, has had a certain impact on cargo transportation, but because the terminal consumption is depressed, the market transaction has not further worsened, maintain rigid demand procurement. Henan Yuguang and other smelters are mainly long single transaction; Jinli 16075 yuan / ton, SMM1# lead discount 50 yuan / ton, Wanyang 16075 16095 yuan / ton, SMM1# lead average discount 30 50 yuan / ton. Part of Henan small factories 16025 to 16055 yuan / ton, the average price of SMM1# lead discount 70 to 100yuan / ton; lead prices fall back, terminal consumption is low, storage enterprises procurement mood is not high, market trading is poor. Other areas such as: Jiang copper 16155 yuan / ton, the average price of SMM1# lead 30 yuan / ton quoted price; Yunnan small enterprises 15825 to 15925 yuan / ton, SMM1# lead discount 300 yuan / ton to discount 200yuan / ton. The lead price continues to fluctuate, the regenerated lead refinery expands the paste water to ship the goods, the downstream mainly to purchase the regenerated lead, the electrolytic lead purchase mood is not high.

Zinc: Geneva zinc opened at US $2511 / tonne. At the beginning of the day, after a brief concussion of the daily average, it quickly went down, all the way down to detect the strength of the 5-day EMA. After finding the support, it returned to detect the US $2500 / ton integer level again. However, it failed to stand firm and fall back slightly to US $2495 / ton line. After entering the European trading session, Lun Zinc twice tried to go up, touching US $2514.5 / ton, unable to stand firm and quickly down. It fell $2486.5 a tonne, or 0.68 per cent, to close at $2492.5, or 0.68 per cent, at $2492.5 a tonne. Geneva zinc recorded two consecutive negative, KDJ index performance is gentle, indicating that there is no upward trend of LME zinc, LME zinc inventory recorded two consecutive increases during the superposition day, the basic support of Lun zinc is weak, the nocturnal action energy is still to be considered, and is expected to run near the 5-day moving average.

At the beginning of the day, the main 1908 contract of Shanghai zinc opened at 20340 yuan / ton, and at the beginning of the day, Shanghai zinc twice went up to detect 20400 yuan / ton integer position suppression, but both failed to stand firm. The short position greatly dragged down Shanghai zinc down to 20160 yuan / ton, and more into the air in the afternoon. Shanghai zinc recovered slightly to 20220 yuan / ton first-line finishing operation. After a little consolidation, the short position left the market to boost Shanghai zinc to rise again. Most of the declines in the backfilling day closed up to 20285 yuan / ton. Compared with the previous transaction, it rose 40 yuan per ton, or 0.2 percent, with trading volume up 298.14 million hands to 265000 hands and positions up 7206 hands to 264000 hands. Shanghai zinc received a cross star in the day, pierced the 20-day EMA above, 06 and 07, 08 contracts continued in 650RMB / t and 1000 RMB / t, indicating that the position squeeze market is still continuing, the near strong and far weak pattern continues to strengthen, the spot market discount continues to expand, the futures market and the spot market continue to differentiate, long action can be temporarily considered, night Shanghai zinc or around the 20th EMA operation.

Shanghai 0 # zinc mainstream transaction 21130 21210 yuan / ton, Shuangyan, Chihong 21220 21300 yuan / ton, 0 # ordinary June discount 150-discount 130 yuan / ton; Shuangyan June discount 70-40 yuan / ton. 1 # mainstream transaction is 21060 to 21150 yuan / ton. After the monthly difference is further expanded, the market can be digested one after another, the discount will further expand and the market will become lighter, the long bill transaction will continue to float down the net average price to continue to supply and demand early market transactions, the daily quotation will focus on the June discount 150-130 yuan / ton, while Shuangyan and Chihong can make warehouse receipt report discount 40-70 yuan / ton market procurement is still positive. And Chihong can not do warehouse receipt quotation as low as discount 130-discount 120 yuan / ton, imports than domestic discount expanded to discount 40-discount 20 yuan / ton, due to the actual consumption participation in the limited transaction is slightly weak, the overall transaction continues flat.

Guangdong 0 # zinc mainstream transaction at 21220 21340 yuan / ton, Guangdong market than Shanghai stock market from yesterday's Pingshui near 30 yuan / ton. The water supply of Shanghai Zinc 1907 contract is about 590 yuan / ton. Refinery normal shipment, in the morning, the transaction is mainly based on the average price of-20 yuan / ton, the overall volume is not large, today's market deliverable volume is obviously narrowed, the market circulation is mainly non-deliverable brands or some deliverable brand bulk goods, but the market receipt sentiment is still unabated. Some shippers, due to the continued expansion of the price gap, have mainly transferred to the contract quotations for the current month, from 50 yuan per ton to 10 yuan per ton in the current month. However, after the arbitrage space is limited, the transaction is suppressed, the market trading atmosphere is obvious, and today the downstream is still slightly involved, the overall transaction is not as good as yesterday. 0# Kirin, Cishan, Tiefeng and Mengzi mainstream were sold at 21220 to 21340 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 21000 to 22460 yuan / ton, 0 # ordinary brand mainstream transaction in 21000 to 21210 yuan / ton, 1906 contract discount 250-discount 150 yuan / ton, Tianjin market continues yesterday discount 50 yuan / ton. Refinery normal shipment, the market supply circulation is more abundant. Holders actively ship, the morning report on the 06 contract discount 200-discount 130 yuan / ton, but due to the recent continued expansion of Tianjin spot discount, downstream more wait-and-see, and no willingness to receive goods, into the second trading period, the holder once again downgraded the discount to 06 contract discount 250-discount 150 yuan / ton, after the price adjustment has not yet played a role in boosting the market, spot transactions to a small number of low-priced sources. Today, the trading atmosphere in Tianjin market continues to be light, and the overall transaction situation is worse than yesterday. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold at 21000 to 21210 yuan / ton, and 1 # Zijin, Chihong and Hongye were sold at 20950 to 21160 yuan / ton.

Tin: after the opening of the Lunxi electronic disk at US $19285 / ton today, the overall horizontal arrangement near the opening price was maintained between early trading and midday in Asian trading, and the dollar's decline in the afternoon pushed it back down quickly as high as US $19400 / tonne in the afternoon. After the opening of the European market, the overall consolidation trend, as of 18-15, Lunxi's latest price of $19310 / ton, a small positive line, below by the 10-day EMA support, is expected to be around the short-term target of $19500 / ton. This evening, you can pay attention to the number of initial jobless claims in the United States for the week ended June 8 (10,000).

Shanghai tin main 1909 contract last night after the opening of 145280 yuan / ton, fell to an intraday low of 144820 yuan / ton after hitting the bottom rose, and then until the end of night trading, Shanghai tin shock all the way up. After the opening of 145380 yuan / ton in early trading this morning, the rising trend of last night's trading was continued at the beginning of the day. It was blocked after reaching an intraday high of 145750 yuan / ton, fell to 145090 yuan / ton and rose again. Finally, it closed at 145530 yuan / ton, up 210 yuan / ton, up 0.14%. The trading volume was 10404, a decrease of 2418. The position is 41454 hands, reduced by 132 hands. Today, Shanghai tin closed with a small positive line, the lower shadow line by 5, 20 EMA support, Shanghai tin is expected to support 143500 yuan / ton below, the upper resistance of 146000 yuan / ton.

Spot market, today's mainstream trading price 144000 to 145500 yuan / ton, Shanghai tin this morning high down, Shanghai part of the arbitrage merchants a small amount of replenishment, downstream enterprises still maintain rigid demand procurement, wait-and-see mood is stronger, the overall trading atmosphere in the spot market is general. Set Yunxiping water, ordinary cloud word sticker 600 900 yuan / ton, small brand sticker 900 to 1300 yuan / ton.

Nickel: the nickel plate is open at US $11870 per ton today. In the afternoon, nickel above the pressure daily moving average, below by $11850 / ton first-line support, range concussion. In the afternoon, Lennie rose, breaking through the $12000 / tonne mark and reaching $12040 per tonne. Subsequently, into the European session, the nickel fell slightly, with a daily average of $11940 / ton first-line support, a narrow range of fluctuations. As of 17 to 30, it was quoted at US $11970 per ton. At night, we should pay attention to the number of initial jobless claims in the United States after the quarter adjustment as of June 8 and the monthly and annual rate of the US Import and Export Price Index in May. At night, attention should be paid to whether Lennie can stabilize the US $12000 / ton barrier.

Shanghai nickel 1907 opened at 97900 yuan / ton today. Before noon, Shanghai nickel operated in a narrow range above the 98000 yuan / ton line. In the afternoon, Shanghai nickel shock upward, about half an hour before the close, bulls increased positions, Shanghai nickel rose sharply, breaking through the 100000 yuan / ton mark, touching 100120 yuan / ton, followed by a small shock, closing at 99950 yuan / ton. The settlement price rose 2080 yuan / ton, or 2.13%, compared with the previous trading day, the position increased by 8500 hands to 166000 hands, and the trading volume increased by 32200 hands to 680000 hands. Throughout the day, the Shanghai nickel 1907 contract closed on the Zhongyang line, completely standing above the middle rail of the Boll line, and the daily line technology MACD green column turned into red column. Shanghai nickel index inflows of 377 million yuan, Shanghai nickel index rose 1.87%, ranking first in non-ferrous metals. In the evening, we will pay attention to whether Shanghai nickel can hold the 100000 yuan / ton gate.

SMM1# electrolytic nickel 98350 to 99300 yuan / ton. In the morning, Russia and nickel leveled water to 50 yuan per ton of water compared with Wuxi 1906, while individual traders reported 100 yuan per ton of water, making it difficult to deal with the transaction. Although the domestic import window opens recently, the source of goods flows in, and the goods are taken downstream in general, but the holder has a strong willingness to lift the water, the main expectation is that the back structure will expand in the later period, the market may have the phenomenon of crowding out, and the low-cost goods are not easy to receive. Jinchuan nickel generally reported a water rise of 900 yuan to 1, 000 yuan per ton compared with Wuxi 1906 contract. The rising water is basically stable, and Jinchuan Company is mainly shipping in the near future. Jinchuan ex-factory price quoted 99300 yuan / ton, up 500 yuan / ton from yesterday, the mainstream transaction at 98350 99400 yuan / ton. In the afternoon, nickel prices rose to around 99800 yuan per ton, and purchases were basically stopped downstream. Mainstream transaction is 98500 to 100000 yuan / ton

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