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June 18 SMM basic Metals spot Trading Day Review
Jun 18,2019 18:12CST
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Source:SMM
June 18 SMM basic Metals spot Trading Day Review
The content below was translated by Tencent automatically for reference.

Copper: Yapan Lun copper opened at US $5845 / ton today. The copper price remained stable and fluctuated after the opening, with a amplitude of no more than US $15 / ton in the morning, and then entered the European market. After reaching a low US $5832.5 / ton, the short position took advantage of the low position. Copper prices quickly rose to a high of US $5896 / ton. After the high short-term concussion, the copper price fell slightly. As of 17-00, the copper price was quoted at US $5890 / ton, up 0.5%. The dollar index was at 97.713 and US crude at $51.55 a barrel. The evening focus on US housing starts and construction data for May is expected to perform well, helping to keep the dollar strong, and weaker expectations for the Fed to cut interest rates have also been key to supporting the dollar's strength in the near term. At present, the Lun Copper Yang recovery entity smoothly recovered the lower 5-day and 10-day EMA, the upper 20-day EMA, the MACD index red column has been elongated, and the technical side has improved. Wait for guidance from the dollar and crude oil at night to test whether Lentong can hold a high of $5870 a tonne at night.

Today, Shanghai copper main contract 1908 opened in the morning at 46330 yuan / ton, immediately after the opening of the day high 46410 yuan / ton, high after a small consolidation, the disk fell to 46320 yuan / ton, the final disk center of gravity continued to move up, and in the 46320 to 46390 yuan / ton shock finishing, the afternoon session tried to explore 46220 customs position, and then quickly higher, closing at 46330 yuan / ton, up 170 yuan / ton, up 0.37%. Today, the position of Shanghai Copper's main contract increased by only 80 hands, and basically remained unchanged at 249000 hands, showing frequent turnover within long and short days, with trading volume reduced by 2004 hands to 120000 hands. Shanghai Copper 1907 contract today reduced its position by 11000 hands to 172000 hands, while trading volume increased by 4984 hands to 69000 hands. Today, the outflow of funds from the non-ferrous plate was as high as 1 billion yuan, while the outflow of copper funds from Shanghai was 168 million. Macroscopically, the market is waiting for the Fed to cut interest rates, the market is waiting for the Fed meeting news, the overall performance of copper prices today consolidation trend, above the pressure on the 10-day moving average, MACD index red column increased, technology in the face of copper prices have a small support, waiting for external guidance at night, test whether Shanghai copper can stand firm 46330 yuan / ton.

Today, the spot price of electrolytic copper in Shanghai is 40 ~ 90 yuan / ton, the transaction price of flat water copper is 46330 yuan / ton ~ 46390 yuan / ton, and the transaction price of copper is 46370 yuan / ton ~ 46430 yuan / ton. Shanghai copper performance is stable, today is the first trading day after the month change, because yesterday the holder has mostly quoted the 1907 contract price, today the holder quotation is stable, the morning market quotation flat water copper namely in the rising water 30 40 yuan / ton, difficult to have the pressure price space, the good copper stalemate in the rising water 70 to 80 yuan / ton, the trader has the pressure price to receive the goods to the good copper is willing, but actually also is more difficult to get the wish, the wet copper holds steady in the discount 40 ~ discount 20 yuan / ton, the good copper is deadlocked in the rising water 70 80 yuan / ton, but actually also is more difficult to achieve the wish, the wet copper holds steady in the discount 40 ~ 20 yuan / ton. Holders still have a high price mentality, not in a hurry to reduce prices and throw goods, the disk is still unstable, transactions show stalemate, but traders have delivery of long orders within the week demand, looking for low-priced supplies in the market, if the rising water drops, the transaction may improve. In the afternoon, the market price did not fluctuate too much, the quotation of the holder was still strong, and the market trading sentiment remained deadlocked. In the afternoon, copper water 30-40 yuan / ton, good copper 70-80 yuan / ton, transaction price in the range of 46250 yuan / ton-46400 yuan / ton.

Aluminum: Lun Aluminum opened at a low of US $1756 / ton in the morning, and climbed steadily in the Asian trading session, falling slightly to around US $1761 / ton after touching US $1767 / tonne. After entering the European trading session, Lun Al went up again along the 5-day moving average. Twice climbing was blocked at US $1769 / ton, and it was again difficult to move forward, because the disk showed that the upper pressure was higher, and Lun Aluminum then began to continue to explore. All the way down to the lowest point of the day at $1759.5 / ton, as of 17:40, Lun aluminum closed at $1761.5 / ton, up $2.50 / ton, up 0.14%, recorded a small positive line, position down 7793 hands to 694000 hands, short position reduction today, the center of gravity is basically flat from yesterday, still below all averages. Geneva aluminum trend is weak, although LME metal stocks continue to decline, but not too much in aluminum prices, due to weak overseas consumption, the macro atmosphere is empty, the dollar is strong, it is expected to be difficult to have a significant upward trend in the evening, continue to pay attention to the evening dollar index changes and new housing starts in the United States in May and other macro data.

The 1908 contract of Shanghai Aluminum main Company opened at an intraday high of 13820 yuan / ton in the morning, but immediately ran into a short position increase and recorded a cross star, and then fell below the daily average and maintained a wide concussion of 13800 yuan / ton. During the period, it briefly fell 13780 yuan / ton, and some short positions in the last session pushed up the aluminum price back to 13810 yuan / ton position, finally closing at 13810 yuan / ton, down 15 yuan / ton, down 0.11%, and the trading volume decreased 29270 hands to 102000 hands. Position increased by 7190 hands to 255000 hands, closed at the Xiaoyang line, the center of gravity continued to sink from yesterday, far from the upper 5-day moving average. The macro news within the day is light, the inner plate metal red and green, Shanghai aluminum in the fundamental short situation has not changed the background is difficult to break away from the short suppression, is expected to continue to maintain a weak concussion in the evening, continue to pay attention to long short position changes and market trading atmosphere.

Aluminum trading in the first stage of the month to maintain interval volatility, the end of the period fell sharply, the second stage of the slow climb. In the morning, the trading price in Wuxi market in Shanghai was between 13840 and 13850 yuan / ton. With the sharp fall in aluminum price and the announcement of market quotation, the spot price in Wuxi in Shanghai began to focus on 13850 to 13860 yuan / ton. In the afternoon, the price fell by 40 yuan / ton compared with yesterday, and the trading price in Hangzhou was between 13870 and 13880 yuan / ton. Today, a large household is still not on the wire procurement notice, at the same time from the disk after the month, the aluminum price upside down plus rising water status has not changed, the holder shipment is very active, some middlemen low price trial replenishment, although the two sides inquiry quotation is positive, but the actual transaction is general. As aluminum prices fell for a few days, superimposed orders gradually weakened, downstream today's performance on-demand procurement, attitude wait-and-see, the delivery is not much. Today, the overall transaction in East China is poor. In the afternoon, aluminum continued to maintain range fluctuations, a small number of transactions between traders in the range of 13850 to 13870 yuan / ton, the rising water of 20 to 30 yuan / ton, there is little downstream.

Lead: within a day, Lun lead opened at US $1884.5 / tonne. In the Asian session, the US index ran high, suppressing the concussion of Lun lead below the daily moving average, entering the European session, and the continuous back structure caused short sellers to panic out. Lun lead hit $1900 / tonne again. As of 16 / 31, Lun lead temporarily closed at $1899.5 / tonne, up $17 / tonne, or 0.9 per cent. Lun lead temporarily closed the Xiaoyang line, below the 10-day moving average to form a support, but the upper $1900 / ton integer level is still pressure, coupled with the continued strength of the US finger, it is more difficult for Lun lead to stand on the 60-day moving average at night.

Within a day, the Shanghai lead 1907 contract opened at 16240 yuan / ton. At the beginning of the day, Shanghai lead ran at 16180 yuan / ton above the daily average. In the afternoon, the short entered the market, and the Shanghai lead shock platform moved down to 16140 yuan / ton. Finally, it was reported at 16140 yuan / ton, up 55 yuan / ton, an increase of 0.34%, and the position was reduced by 2118 hands to 40220 hands. Shanghai lead close Xiaoyang line, run along the 10-day EMA, and Shanghai lead is still in the range of 20, 40 days EMA, it is expected to be difficult to break the market at night.

Shanghai market Muron lead 16150 to 16180 yuan / ton, 1907 contract discount 30 yuan / ton to flat water quotation; southern lead 16180 to 16230 yuan / ton, for 1907 contract flat water to liter water 50 yuan / ton quotation; sands 16230 yuan / ton, to 1907 contract liter water 50 yuan / ton quotation; imported Kazakh lead 16130 yuan / ton, 1907 contract discount 50 yuan / ton quotation. The price of lead in Shanghai market is 16150,16180 yuan / ton, 30 yuan / ton to Pingshui in 1907 contract, 16180 yuan / ton in southern China, 50 yuan / ton in 1907 contract, 50 yuan / ton in 1907 contract and 16130 yuan / ton in 1907 contract. The futures market shock is strong, the holder shipment turns to be positive, the spot quotation turns to the discount, some traders receive the goods at a low price, and the downstream fear of high wait and see, only to rigid demand procurement, bulk market transactions in general.

Guangdong market Nanhua lead 16200 yuan / ton, the average price of SMM1# lead water 50 yuan / ton quotation; southern storage south 16180 yuan / ton, 1907 contract flat water quotation; Guangdong market transaction is light, storage enterprises only maintain rigid demand procurement. Henan Yuguang and other smelters mainly to long single transaction; Jinli 16050 to 16070 yuan / ton, to SMM1# lead average price discount 80 to 100 yuan / ton quotation; Wanyang 16080 to 16100 yuan / ton, to SMM1# lead average price discount 50 to 70 yuan / ton quotation; refinery expansion paste water shipment, shipping enthusiasm is high, but the downstream is still mainly to bargain purchase, market trading is general. Other areas such as: Jiang Copper 16180 yuan / ton, the average price of SMM1# lead 30 yuan / ton quoted; Hunan Shuikoushan 16200 yuan / ton, SMM1# lead price increased 50 yuan / ton; Yunnan small enterprises 15750 to 15850 yuan / ton, SMM1# lead price discount 300 to 200 yuan / ton. Lead prices continue to fluctuate, renewable lead refineries maintain discount delivery, downstream mainly to purchase recycled lead, electrolytic lead procurement mood is not high.

Zinc: Geneva zinc opened at US $2466.5 / tonne. At the beginning of the day, the daily average of zinc was lowered by US $2452.5 / tonne. After finding support, the operating center of gravity moved up to US $2460 / tonne. However, the suppression of the daily moving average showed that the pressure on Len Zinc was down again by US $2451 / tonne. After entering the European trading session, with the US Index down, Len Zinc was boosted to US $2467.5 / tonne, but the euro zone data release was weak. The euro fell and the US index rose sharply. Although it was down US $2451 per tonne, it soon rose by US $2481.5 per tonne, the highest in the day, rising US $3.50, or 0.14 per cent, to US $2476 at 18. 00. Geneva zinc jumped off all daily moving averages, the top of the 10-day moving average, KDJ indicators show that there is a breakthrough market, LME zinc stocks recorded a drop of 1500 tons, giving short support to zinc prices, the night is expected to maintain stable consolidation of zinc, is expected to test the ability to break through the 5-10-day moving average.

Within a day, the main 1908 contract of Shanghai zinc opened at 20070 yuan / ton, Shanghai zinc opened high and low at the beginning of the day, and went all the way down to find support below the daily average, and rose slightly to 19930 yuan / ton. During this period, the daily average was pressed and touched to 19975 yuan / ton, and the short positions entered the market neatly in the afternoon. Shanghai zinc was involved, and the center of gravity moved down to 19880 yuan / ton. The operation center of gravity moved down to 19880 yuan / ton, and the operating range did not exceed 30 yuan / ton, and the end of the plate was more than empty. Shanghai zinc rose slightly to near the daily average, rising to 19930 yuan per ton, up 30 yuan per ton, or 0.15 percent, from the previous trading. Trading volume increased by 208000 hands to 580000 hands, and position volume decreased by 19402 hands to 294000 hands. During the day, Shanghai zinc stopped yin and yang, attached shadow line broken 5, 10 days EMA double adhesion suppression, inventory continued to record an increase, during the day short position reduction upward, bulls still do not have sufficient confidence, superimposed above the technical index multiple index suppression, night Shanghai zinc action can still be considered, is expected to support the off-track operation of Brin Road.

Shanghai 0# zinc mainstream transaction 20380 20450 yuan / ton, Shuangyan, Chihong 20420 20480 yuan / ton, 0 # ordinary July reported 200220 220 yuan / ton; Shuangyan and Qihong reported rising water 220 250 yuan / ton. 1 # mainstream transaction is 20320 to 20360 yuan / ton. After the decline of the monthly difference yesterday, the quotation has accelerated to fall, because the warehouse receipt has not flowed out yet, and the market circulation has not been significantly loosened. The market quotation continued yesterday afternoon and began to rise by 210 yuan / ton. Due to the obvious decline in the price, the long order purchase of traders is more active, and the transaction in the morning market is slightly active. The transaction is concentrated in the rising water of about 210 yuan / ton, or the average price rises by 10 to 15 yuan / ton, and the purchase at the lower end of the river also heats up. The overall market trading atmosphere is OK. However, the downstream procurement is still not active, mainly on the downstream consumer brand transactions are relatively general, imported SMC, Spain than domestic discount 50-flat water about, Shuangyan, Chihong than domestic water 20 to 30 yuan / ton, the transaction is relatively general. Overall market transactions were further warmer than yesterday.

Guangdong 0 # zinc mainstream transaction in 20350-20410 yuan / ton, Guangdong stock market than Shanghai stock market from yesterday's Pingshui near 40 yuan / ton discount. The rising water of Shanghai zinc 1908 contract is about 430450 yuan / ton. Refinery normal shipment, the morning market for the quotation is more confused, most of the average price, or the average price-10, a small amount of long single demand contribution must be concluded. Enter the second trading period, the market for the follow-up warehouse receipt outflow consideration, there is no high price, quoted in the Shanghai zinc 1908 contract rising water 430450 yuan / ton, but the long single demand is saturated and the downstream replenishment warehouse is more yesterday, today to maintain rigid demand to buy, the overall transaction is flat. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 20350 to 20410 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 20420 to 21590 yuan / ton, 0 # ordinary brand mainstream transaction in 20420 to 20570 yuan / ton, the 1907 contract water rise of 210 to 320 yuan / ton, Tianjin market than Shanghai stock market from yesterday flat water to Shengshui 60 yuan / ton. The main stream of 0 # zinc ingots in Tianjin market is 20420 to 21590 yuan / ton, and the mainstream of 0 # ordinary brand is 20420 to 20570 yuan / ton. The plate went down continuously, the refineries slightly cherished the sale, and the circulation of goods in the market was reduced. The holder raised the price in the morning and shipped the goods at a price of 250 yuan to 350 yuan per ton for the 07 contract, and the downstream was mainly for inquiry. The transaction was less. Some of the holders lowered the water supply again, but the downward adjustment was relatively small, and the quotation was concentrated around 210 to 320 yuan per ton for the 07 contract. After the price adjustment, the market transaction situation has improved. However, due to the less circulation of ordinary brands in today's Tianjin market, the flow of high-priced brands such as Zijin is more, and the trading atmosphere in Tianjin is slightly warmer today. However, due to the less supply of goods, the overall volume is flat yesterday. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold at 20420 to 20570 yuan / ton, and 1 # Zijin, Chihong and Hongye were sold at 20450 to 20640 yuan / ton.

Tin: after the opening of the 18960 yuan / ton electronic disk today, the Asian session generally maintained a narrow consolidation near the opening price, during which it rose slightly to US $19000 per ton. After the opening of European trading, as a result of the sharp rise in the US dollar index and the renewed substantial increase in Lensi inventories, Lensi quickly fell to US $18700 / tonne and rose slightly, with its latest price at US $18795 / tonne as of 17-30. it is negative and below all averages. Lensi inventories rose another 1335 tons today, an increase of 28.4% again, putting strong pressure on Lunxi, with all its technical indicators clearly empty and showing no signs of falling, with the front target pointing straight to the previous low of $18500. This evening, you can focus on the guidance of the annualized monthly rate (%) of new housing starts in the United States in May and the change in API crude oil stocks (10,000 barrels) in the week ended June 14 in the United States against the dollar index.

Shanghai tin main 1909 contract last night after the opening of 144210 yuan / ton, at the beginning of the market slightly high to 144490 yuan / ton, and then until the closing of night trading, Shanghai tin all the way down. After the opening of 143970 yuan / ton in early trading this morning, it continued the trend of last night's trading down again, and finally closed at 143640 yuan / ton, down 770yuan / ton, down 0.53 per cent. The trading volume was 10716, an increase of 996. The number of positions was 41514, an increase of 444. Today, due to the impact of overnight tin downward and short pressure factors, Shanghai tin overall opened low, all the way down, and finally closed with a negative line, the upper shadow line is located near the 10-20 moving average. It is estimated that the lower support of Shanghai tin is located near the high point of 143500 yuan / ton in the early stage, and the next support is located near the integer gate of 143000 yuan / ton, and the upper resistance is near the 10-20 EMA of 144500 yuan / ton.

Spot market, today's mainstream transaction price 142600 144000 yuan / ton, downstream enterprises due to today's price downward buying some recovery, but still maintain rigid demand replenishment, the spot market transaction atmosphere is general. Set Yunxi liter water 200 yuan / ton, ordinary cloud word sticker 400 to 600 yuan / ton, small brand discount 1000 to 1100 yuan / ton.

Nickel: nickel opened today at US $11770 per tonne. At the beginning of the day, Lennie was supported by the daily average, concussion upward, after rising US $11830 / ton shock fell, to the daily average near the horizontal finishing. In the afternoon, nickel continued to fall, down $11730 a tonne. Subsequently, into the European session, Shanghai nickel rose, breaking the daily average, bearing pressure of US $11830 / ton line. As of 17 / 00, it was quoted at US $11805 / ton. In the evening, we will be concerned about whether Lennie can be supported by the 10-day moving average, holding the US $11800 / ton barrier. At night, attention should be paid to the total number and monthly rate of construction permits in the United States in May and the annualized total and monthly rate of new housing starts in May.

Shanghai nickel 1908 opened at 98000 yuan / ton today. At the beginning of the day, the pressure above Shanghai nickel was 98600 yuan / ton line, and the lower part was supported by the daily average of 98100 yuan / ton. In the afternoon, shanghai nickel fell below the daily average and was supported by 97700 yuan / ton in the middle of the Boll line, slightly concussion consolidation, near the end of trading, slightly higher, returning to the daily average, closed at 98180 yuan / ton, compared with the previous day's settlement price fell 1050 yuan / ton, down 1.06%, trading volume increased by 28500 hands to 396000 hands, position volume increased by 1000 hands to 231000 hands. Throughout the day, the Shanghai nickel main contract ended in the Xiaoyin line, the overall operation in the Boll line above the middle rail. The outflow of funds from the Shanghai nickel index was 205 million yuan, down 1.13 percent, ranking first among nonferrous metals. In the evening, we will pay attention to whether Shanghai nickel can be supported by the 20-day EMA and hold the 98000 yuan / ton gate.

SMM1# electrolytic nickel 9880099700 yuan / ton. In the morning, Russian nickel reported 200 yuan per ton of water than Wuxi 1907. Jinchuan nickel generally reported a water rise of 1000 yuan per ton compared with Wuxi 1907 contract. Russia nickel liter water 300 yuan / ton transaction is difficult, basic rising water 200 yuan / ton is relatively good, today's market trading is not as active as yesterday, yesterday individual traders feedback in the price dropped to 98700 yuan position, downstream actively take goods. Today, as the price is maintained in the vicinity, and the disk trend is weak, downstream choose to wait and see. Jinchuan nickel recent transactions are very general, Jinchuan nickel factory price of 99500 yuan / ton, down 1100 yuan / ton from yesterday, the mainstream transaction at 98800-99700 yuan / ton. In the afternoon, the nickel price continued to be weak, and the transaction continued to be flat, with the mainstream trading at 98400 to 99500 yuan / ton.

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