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June 19 SMM basic Metals spot Trading Day Review
Jun 19,2019 18:47CST
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Source:SMM
June 19 SMM basic Metals spot Trading Day Review
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Copper: Yapan Lun Copper opened at US $5961.5 / ton today. The copper price remained stable and volatile after the opening of trading, with a amplitude of no more than US $20 / ton in the morning. During the period, the copper price rose by US $5967.5 / ton, and then entered the European market. Some short positions entered the market. Copper prices showed a volatile downward trend, with the center of gravity around US $5945 / ton lagging behind. As of 17 to 30, Lun Copper was at US $5936.5 / ton, down 0.39%. The dollar index was at 97.555 and US crude at $54.06 a barrel. Evening attention to the United States as of June 14 EIA crude oil inventory change data, although the expected data is good for crude oil, but combined with the recent crude oil production reduction efforts, inventory reduction is not too optimistic, support for copper prices is limited. At present, the Lun Copper negative entity smoothly recovered the lower 5, 10 and 20 EMA, and the overall center of gravity moved up to the Brin middle rail, MACD red energy column elongated, the technical performance is good. Wait for guidance from the dollar and crude oil at night to test whether the copper can reach $5940 a tonne at night.

Today, the main contract of Shanghai copper opened at 46960 yuan / ton in the morning, opening at the highest level, and then the market trend was stable, with a narrow range of concussion around 46840 yuan 46950 yuan / ton, the overall price fluctuation range was about 110 yuan, and the center of gravity was maintained at about 46900 yuan / ton. In the afternoon, the trading surface fell slightly to 46830 yuan / ton, and made a small consolidation near that point, during which 46800 yuan / ton was explored and closed at 46840 yuan / ton, up 560yuan / ton, an increase of 1.21%. Today, Shanghai Copper's main contract position decreased by 5190 hands to 244000 hands, while trading volume increased by 120000 hands to 240000 hands. Shanghai Copper 1907 contract today reduced its position by 14000 hands to 159000 hands. The Shanghai Copper Index fell 16000 hands to 589000 hands today, while trading volume increased 192000 hands to 418000 hands. Today, the capital outflow of Shanghai copper in the non-ferrous plate reached 164 million. Affected by the slowing friction between China and the United States, superimposed the suggestion of a possible interest rate cut by the European Central Bank, the overall macro atmosphere has warmed up, causing short sellers to leave the market quickly, effectively boosting copper prices. Today, Shanghai copper closed at the physical Taiyang column, below standing on the 20-day moving average, the MACD index red column increased obviously, the KDJ index expanded, and the technology also had obvious support in the face of copper prices, but we still need to continue to pay attention to the negotiation process of the G20. It still plays a strong guiding role in the trend of copper prices. In the evening, waiting for the guidance of the outside market, test whether Shanghai copper can continue to rush and stand at the 47000 yuan / ton level.

Today, the spot price of electrolytic copper in Shanghai is 30 ~ 80 yuan / ton, the transaction price of flat water copper is 46820 yuan / ton ~ 46900 yuan / ton, and the transaction price of copper is 46860 yuan / ton ~ 46940 yuan / ton. Copper rose strongly overnight in anticipation of trade relations between China and the United States, followed by Shanghai copper, which hovered at 46800 yuan per ton after rising 500 yuan per ton today. Today, quotation holders have no intention to downgrade the rising water, the quotation remains stable at yesterday's level of 30 to 80 yuan / ton, the disk surface rebounded strongly, but the spot transaction still shows the characteristics of chainsaw, although flat water copper is generally 30 to 40 yuan / ton, but due to the low activity of market inquiry, some traders can press the price to 20 yuan / ton to take goods, good copper can be maintained in the water 70 to 80 yuan / ton range quotation, it is more difficult to lower the price, but due to the low market inquiry activity, some traders can press the price to 20 yuan / ton, good copper can be maintained in the water 70-80 yuan / ton range, it is more difficult to lower the price. Downstream still maintain rigid demand, wet copper maintain discount 40 yuan / ton ~ discount 20 yuan / ton quotation. Downstream consumption is afraid of high sentiment, the mainstream trading is still mainly for long order delivery, holders to maintain the willingness to push the price, the short-term market may remain stable at the current level, supply and demand continue to show a state of stickiness. Afternoon market prices to maintain a volatile pattern, high prices still inhibit market transactions, and holders of long-term single expectations, the willingness to push the price is still the same. In the afternoon, copper water 20-30 yuan / ton, good copper 70-80 yuan / ton, transaction price in the range of 46800 yuan / ton-46940 yuan / ton.

Aluminum: Lun Aluminum opened at US $1778 / ton in the morning, and its center of gravity fell to US $1773.5 / ton in the Asian trading session. It rose at the end of the Asian trading session and continued to rise after entering the European trading session. After exploring the intraday high of US $1783.5 / ton, it finally recorded a cross star due to the greater pressure above, and then the high weight fell back to the low of US $1774.5 / ton. As of 18:21, the end of the trading session fluctuated within a narrow range of US $1778 / ton, and at the end of the trading session, the narrow range concussion at the end of the trading session was US $1778 / ton. It closed up $1, or 0. 06 per cent, at $1779 a tonne. In Japan, due to the news of telephone calls between China and the United States, the macro atmosphere has improved, and the short position of Lun Al has mainly reduced its position by more than 10,000 hands, and the third line of the daily KDJ is facing up. However, due to the above $1800 / ton line pressure level has not changed, is expected to continue to rise in the evening limited space, the evening to continue to pay attention to changes in the dollar index and the release of trade-related macro news.

The 1908 contract of Shanghai Aluminum Company opened at 13880 yuan / ton in the morning. At the beginning of the day, some short positions pushed down the aluminum price to 13855 yuan / ton, and then nearly 4, 000 hands took advantage of the low position to push up the aluminum price to a daily high of 13890 yuan / ton, but the upper pressure was obvious. After concussion near the daily average, Shanghai Aluminum fell straight to the lowest point in 13825 yuan / ton day. It floated up and closed at 13865 yuan / ton at the end of the day, up 70 yuan / ton, an increase of 0.51%. Position increased by 2810 hands to 257000 hands, trading volume increased by 45262 hands to 147000 hands, closed at Erlianyang today, above hit the 5-day moving average, daily KDJ three-line convergence upward, MACD green line shortened. In Japan, due to the exchange of phone calls between the leaders of China and the United States, the macro mood moderated, the internal metal fluttered almost all the way red, and Shanghai Aluminum also closed higher, but considering that the macro news is a short-term stimulus, if digested by the market, the operation logic of aluminum prices will return to fundamentals. At that time, we still need to pay attention to the supply and demand side of aluminum ingots, and it is recommended that bulls be cautious.

The opening of aluminum in the current month is dominated by interval concussion. In the morning, the transaction price in Shanghai market was between 13870 yuan / ton and 13880 yuan / ton, and Wuxi spot price was between 13880 and 13890 yuan / ton. With the announcement of the net price, the overall spot price in East China market rose slightly. Shanghai price began to concentrate on 13880 to 13890 yuan / ton, Wuxi price concentrated between 13890 and 13900 yuan / ton, a small number of brand spot prices traded around 13910 yuan / ton, and Hangzhou price concentrated around 13900-13910 yuan / ton before noon. Prices in Wuxi, Shanghai, rose by about 30 yuan to 50 yuan per ton compared with the previous day, and by about 10 to 20 yuan per ton to the market. Today, a large household does not purchase on the wire, and the holder holds part of the spot purchased at a low price yesterday. Today, the goods are shipped actively at high prices, and the replenishment transaction between middlemen and traders is very active. Downstream, as a result of price rebound and continue to wait and see, rigid demand delivery is the main, the actual delivery is not much. Today, the overall transaction in East China is average. Afternoon aluminum to maintain interval volatility, market quotation chaos, Shanghai prices concentrated in the vicinity of 13880 yuan / ton, on the disk around 10 yuan / ton, Wuxi goods quoted in 13900 to 13910 yuan / ton, flat water or rising water around 10 yuan / ton, the actual transaction in East China in the afternoon, the downstream performance is light.

Lead: within a day, Lun lead opened at US $1916 per tonne. In the Asian session, the daily moving average of Lun lead was also moved down to US $1909 per tonne. In the European session, due to the nearly quadrupling of the write-off warehouse receipt of LME lead, Lun lead increased to US $1933.5 per tonne, but there was pressure on the platform of US $1930 per tonne. After the pressure of US $1904.5 per ton, it rose slightly back to a narrow range around US $1910 per ton. As of 17-30, Lun lead was down $5.50, or 0.29 per cent, at $1910 a tonne. Lun lead temporarily closed the Xiaoyang line and initially stood on the 60-day EMA, but the lead LME 0-3 liter discount changed to the contango structure, paying attention to whether the Lun lead can hold the 60-day EMA at night and continue the rebound pattern.

At the beginning of the day, the Shanghai lead 1907 contract opened at 16280 yuan / ton. At the beginning of the day, Shanghai lead temporarily ran along the 16265 yuan / ton line. After that, the bulls worried about the pressure above the box, cut the warehouse and left the market, and the short position added code. The Shanghai lead concussion platform moved down to 16210 yuan / ton, the low 16180 yuan / ton, near the close, short-term profit departure, Shanghai lead made up part of the daily decline, and finally reported at 16270 yuan / ton, up 120 yuan / ton, up 0.74%. Reduce your position by 2576 to 37644. Shanghai lead closed Zhongyang line, running along the uplink channel, and the short-term daily moving average showed an upward trend, but the rise was mainly due to short departure, persistent worry, coupled with the strong suppression of the above 60-day moving average, pay attention to whether Shanghai lead can keep the 40-day moving average at night.

Shanghai market southern lead 16220 to 16250 yuan / ton, for 1907 contract water 30 to 60 yuan / ton; import lead 16090 to 16140 yuan / ton, 1907 contract discount 100 to 50 yuan / ton; Zhejiang copper crown lead 16190 to 16220 yuan / ton, for 1907 contract flat water to liter water 30 yuan / ton. The futures market continues to strengthen, coupled with a small supply of circulation after delivery, the holder is high price shipment, but the lead consumption has not improved, coupled with the renewable refined lead to maintain discount delivery, bulk single market trading is light.

Guangdong market Nanhua lead 16250 yuan / ton, the average price of SMM1# lead water 50 yuan / ton quotation; southern storage south 16240 yuan / ton, 1907 contract water 50 yuan / ton quotation; from 16230 yuan / ton (sent to the southern storage warehouse), the average price of SMM1# lead rose 30 yuan / ton; lead price shock is strong, downstream wait-and-see mood is strong, the desire to purchase at a high price is not strong enough. Henan Yuguang and other smelters mainly to long single transaction; Jinli 16100 to 16120 yuan / ton, SMM1# lead discount 80 to 100 yuan / ton quotation; Wanyang 16120 to 16130 yuan / ton, to SMM1# lead average discount 70 to 80 yuan / ton quotation; refineries to maintain discount shipment, shipping enthusiasm is high, but the downstream is still to bargain procurement, market trading is general. Other areas such as: Jiang copper 16230 yuan / ton, the average price of SMM1# lead 30 yuan / ton quoted price; Yunnan small enterprises 15900 to 16, 000 yuan / ton, SMM1# lead discount 300 to 200 yuan / ton. Lead price shock is strong, mainly procurement of recycled lead downstream, electrolytic lead procurement mood is not high.

Zinc: Geneva zinc opened at US $2512.5 / tonne. After a small upward detection of zinc in Shanghai at the beginning of the day, the daily average fell to US $2495 / ton. Subsequently, the support strength of the 10-day moving average showed that the capacity of Lun Zinc rose to US $2505 / ton line, but failed to insist. After a slight fall in pressure, it rose again to US $2505 / ton line. Around the daily moving average, it coincided with the decline of LME zinc stocks and the rapid decline of London Zinc. At 16-30, it closed down $2485.5, or $28, or 1.11 per cent. Len Zinc overall pressure Brin Road middle rail operation, within the day LME zinc inventory increased by more than 800t, zinc prices by its pressure to spit back the overnight part of the increase due to macro sentiment, the previous registered warehouse receipt increase, the market for the follow-up zinc inventory increase is still expected, Lun Zinc fundamentals support is weak, the night is expected to bear pressure Brin Road middle rail operation.

The main 1908 contract of Shanghai zinc opened at 20180 yuan / ton at the beginning of the day, but at the beginning of the day, Shanghai zinc briefly rose to 20170 yuan / ton, but failed to stand firm, quickly lowered 19960 yuan / ton, and pushed Shanghai zinc upward to 20030 yuan / ton at midday. However, it failed to insist, after falling back again, it tried to rise to 19990 yuan / ton, and the long end of the plate left the market slightly. Shanghai zinc went down, closing up 19945 yuan / ton, up 15 yuan / ton from the previous transaction. It rose 0.08%, with trading volume up 218.88 million to 602000 and positions up 588 to 295000. Within the day, Shanghai zinc closed a small negative line, attached to the shadow line on the 20-day average suppression, within the day, Shanghai zinc as a whole is in a downward trend, sorting out the overnight pull-up affected by the macro, basically give up overnight increases, superimposed weak spot market demand, Shanghai zinc night or no greater action can, Shanghai zinc is expected to run near the 10-day moving average.

Shanghai 0# zinc mainstream transaction 20420 20500 yuan / ton, Shuangyan, Chihong 2044020520 yuan / ton, 0 # ordinary July 160200 yuan / ton; Shuangyan and Qihong reported 200,220 yuan / ton of rising water. 1 # mainstream transaction is 20340 to 20420 yuan / ton. Today, zinc futures remained low and the smelter slightly cherished the sale. For the late warehouse receipt inflow and storage expectations, traders are still willing to ship, while the market order is still more active. The early market quotation began with a rise of 200 yuan / ton, and a small amount of transaction performance was stored in the market. However, some traders took the lead in adjusting prices to guide the market, and the quotations quickly dropped to 180 yuan / ton. Due to the obvious downward trend of rising water again, the shippers became cautious. The quotation is once again guided down to 160 yuan / ton, the overall transaction is relatively weak, the second trading period, the long order transaction is over, and most of the downstream downfall purchases have been completed yesterday, the market trading atmosphere has become weak, the quotation has stabilized in the rising water 160 180 yuan / ton, the overall transaction within the day is not as good as yesterday, the overall trading atmosphere has cooled.

Guangdong 0 # zinc mainstream transaction in 20270 20400 yuan / ton, Guangdong market than Shanghai market from yesterday's discount 40 yuan / ton to discount 120 yuan / ton. The water supply of Shanghai Zinc 1908 contract is about 290 RMB / t. Refinery normal shipment, the morning holders are willing to pay a strong price, mostly quoted in the average price of-20, or on the 08 contract rising water around 370 400 yuan / ton, basically did not see more transactions. Entering the second trading period, the holder downgraded the rising water, reporting that the water increased by 290 to 310 yuan / ton for the 08 contract, but there were more replenishment in the downstream two days ago, and the demand for the long single was saturated, superimposed on the upward trend of today's market. The market transaction situation was significantly worse than that of yesterday. 0# Kirin, Cishan, Tiefeng and Mengzi mainstream were sold around 2027020400 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 20360 to 21580 yuan / ton, 0 # ordinary brand mainstream transaction in 20360 to 20570 yuan / ton, 1907 contract rising water 150 to 320 yuan / ton, Tianjin market than Shanghai stock market rose 60 yuan / ton yesterday to discount 120 yuan / ton. Refinery normal shipment, the market supply circulation is relatively abundant, the morning holder reported that the 07 contract water rise 260 to 320 yuan / ton, but the downstream did not contribute to a certain extent, follow-up holders once again cut the water rise to the 07 contract water 150 to 320 yuan / ton, the market transaction has not yet received a significant boost. Tianjin market spot water rapid decline, mainly due to Monday and Tuesday when the disk fell more downstream replenishment, superimposed today's upward disk, downstream purchasing willingness to weaken, today's Tianjin market transaction situation is significantly weaker than yesterday. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold at 20360 to 20570 yuan / ton, and 1 # Zijin, Chihong and Hongye were sold at 20310 to 20520 yuan / ton.

Tin: after the opening of US $19185 / ton today, the electronic disk rose slightly to US $19205 / ton at the beginning of the day. After the opening of the European market, LME stocks continued to increase, today's increment of 130T, an increase of 2.15%, the increase fell sharply, continuing the downward trend of the Asian disk segment quickly down to US $18865 / ton, as of 17 to 30, the latest price of Lensi is US $18935 / tonne, it is expected that the three recent EMA above Lunxi will stick to the top, so it is difficult to return to the top. The next target is around US $18500 / ton for the pre-platform. This evening can be watched for the week ended June 14 in the United States EIA crude oil inventory changes (10,000 barrels).

After the opening of 143840 yuan / ton of the main 1909 contract in Shanghai last night, affected by the positive news side of President Xi Jinping's appointment with US President Trang's ordinary telephone on the 18th, Shanghai tin fluctuated all the way up to 144930 yuan / ton, and fell back slightly at the end of the day. After the opening of 144710 yuan / ton in early trading this morning, affected by short forces, the wave band fell, and finally closed at 144050 yuan / ton, up 410yuan / ton, or 0.29 per cent. The trading volume was 14294, an increase of 3578. The position was 41878, an increase of 364 hands. Today, Shanghai tin is generally raised and then suppressed, showing a small Yang line, the upper shadow line is longer, located near the 5-20 EMA, it is expected that the Shanghai tin support is located at the previous platform high point of 143500 yuan / ton, and the upper resistance is near the 5-20 EMA of 144500 yuan / ton.

Shanghai tin main 1909 contract today rose as a whole fell back. In the spot market, today's mainstream trading price is 142800 to 144,500 yuan per ton. In the morning market, due to the higher surface price, some set merchants received a small amount of goods, and then as the disk price went down, the willingness of the set merchants to receive goods weakened. Downstream enterprises today due to price upward wait-and-see mood is stronger, buy Xing is weaker. The overall transaction atmosphere of the spot market is general. Set Yunxi liter water 100 yuan / ton-flat water, ordinary cloud word sticker 400 to 600 yuan / ton, small brand discount 1000 to 1100 yuan / ton.

Nickel: the nickel sub-plate opened at US $11960 / ton today. At the beginning of the day, the nickel was pushed down after a rise of US $12010 / ton, supported by the 5-day moving average of US $11870 / ton, slightly overhauled, and finished horizontally at US $11930 / ton at noon. In the afternoon, the pressure-bearing daily average fell again, down $11850 a tonne. Subsequently, into the European period, the nickel concussion rose again. As of 17 / 00, it was quoted at US $11980 / ton. LME inventories rose 2958 tons to 170088 tons today. Pay attention to the guidance on the change of long short position. Evening should pay attention to Lennie this night should pay attention to the Federal Reserve to announce the interest rate decision.

Shanghai nickel 1908 opened today at 99980 yuan / ton, at the beginning of the plate, the pressure of 100000 yuan / ton gate, below by the daily average support, concussion operation. Subsequently, Shanghai nickel shock down to below the daily average, during which many attempts to break through the daily average of 99500 yuan / ton first line failed, won 99000 yuan / ton first line support, range concussion. Near the end of trading, the Shanghai nickel center of gravity fluctuated in a narrow range around 99000 yuan per ton, closing at 99060 yuan per ton, up 960 yuan per ton, or 0.98 percent, from the previous trading day. The position increased by 5600 hands to 237000 hands, and the trading volume increased by 224000 hands to 620000 hands. Shanghai nickel is expected to operate at a concussion of 100000 yuan per ton in the evening.

Spot market, the morning Russian nickel than Wuxi 1907 liter water 150 to 250 yuan / ton. Jinchuan nickel reported 800 yuan per ton of water higher than Wuxi 1907 contract. The plate is affected by the macro news last night, the price is strong, traders according to their own cargo situation quoted price differences, Russian nickel water than yesterday showed a reduction of about 50 yuan, Jinchuan nickel water down 100 yuan, the overall supply of Russian nickel and Jinchuan are more abundant, downstream take-goods mentality is cautious, market transactions are light. After the morning trading session, the market price has been reduced, the transaction has not seen a significant improvement. Jinchuan nickel still has a certain shipping pressure, Jinchuan nickel ex-factory price of 100200 yuan / ton, the mainstream transaction in 100500 to 100750 yuan / ton. Afternoon disk concussion operation, the transaction is still light.

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