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SMM basic Metals spot Trading Day Review on June 20
Jun 20,2019 18:29CST
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Source:SMM
SMM basic Metals spot Trading Day Review on June 20
The content below was translated by Tencent automatically for reference.

Copper: today, Yapan Lun Copper opened high at US $5940 / ton, with its opening center of gravity around the daily average of US $5936 / ton, followed by a sharp fall in the US dollar, boosting copper prices to rise. After sorting out the position of US $5964 / ton, copper prices continued to fluctuate higher. After entering the European market, the rally was briefly blocked at the beginning of the day, but then, as a result of the bulls continuing to increase positions, copper prices broke through the high level of US $6001 / ton, as of 17 / 30, Lun Copper was up 1.49 percent at $5986.5 a tonne, the dollar index at 96.696 and US crude at $55.69 a barrel. Evening attention to the U. S. jobless claims for the week ended June 15 is expected to be lower than the previous value, the dollar is likely to remain low. Macro sentiment has moderated recently as the Fed has yet to cut interest rates, and emotional repair has pushed copper prices higher. At present, Lun Copper is still blocked above the US $6000 / ton mark, but the center of gravity is firmly on the middle track of Brin, and the technical indicators are strong and strong. At night, waiting for guidance from the dollar and crude oil, test whether evening copper can substantially move up to the operating range of $5950 to $6000 a tonne.

Today, Shanghai copper main contract opened at 46880 yuan / ton in the morning, fell immediately after the opening, the center of gravity is located in the vicinity of 46830 yuan / ton shock finishing, during the period of exploration during the lowest level of 46790 yuan / ton. Subsequently, bulls entered the market actively, copper prices opened all the way high, and continued to maintain a high trend in the afternoon. After reaching the highest level of 46990 yuan / ton in the day, the end of the day fell slightly, and closed at 46930 yuan / ton, up 46990 yuan / ton, an increase of 0.21 per cent. Today, the main contract of Shanghai Copper increased its position by 936 hands to 245000 hands, while trading volume decreased by 104000 hands to 137000 hands. The Shanghai Copper 1909 and 1910 contracts added 7748 positions to 153000, the Shanghai Copper Index increased its positions by 2426 to 591000 today, and trading volume decreased by 166000 to 252000. Today, the US dollar was affected by the increase implied by the Federal Reserve's expectations of interest rate cuts in the second half of the year. The US index fell all the way, forming a positive support for copper prices. Copper prices rose as a whole today, closing at the physical pillar, the KDJ index continued to expand, the MACD index was lengthened, and the technology was supported by copper prices. However, at the macro level, the market is waiting for the G20 summit to be held, and the uncertainty of the economic and trade atmosphere makes the market still cautiously bullish on copper prices. In the evening, waiting for the guidance of the outside market, test whether Shanghai copper can continue to explore and stand at the level of 47000 yuan / ton.

Today, the spot price of electrolytic copper in Shanghai is 30 ~ 80 yuan / ton, the transaction price of flat water copper is 46780 yuan / ton ~ 46840 yuan / ton, and the transaction price of copper is 46820 yuan / ton ~ 46880 yuan / ton. Shanghai copper continued yesterday's concussion pattern, around 46800 yuan / ton line continues to concussion. Morning quotation water 30 80 yuan / ton, maintenance stable in yesterday's quotation, flat water copper can quote 30 yuan / ton can be pressed price space, good copper can pressure price space is small, maintain stability in the rising water 70 80 yuan / ton around; wet copper quotation is slightly looser than yesterday, as for discount 50 ~ 30 yuan / ton, downstream to maintain rigid demand. Today, good copper and flat water copper quotations are stable, trading performance is general, transactions are still deadlocked, holders do not have the willingness to sell goods for cash, the willingness to push forward is still more obvious, and the disk performance of how empty confrontation, it is difficult to determine the trend, so traders have little to do, the market wait-and-see mood is stronger, supply and demand continues to show stalemate. In the afternoon, the market remained deadlocked and prices continued to rise, making downstream delivery cautious. In the afternoon, copper water 20-30 yuan / ton, good copper 70-80 yuan / ton, transaction price in the range of 46870 yuan / ton-46980 yuan / ton.

Aluminum: Lun Al jumped high at US $1785 / ton in the morning, climbed above the daily average after two hours of trading, and then slowly rose all the way up within the day. The European trading phase reached the highest level of US $1805 / ton in the day. However, after crossing the US $1800 / ton barrier, the upward pressure continued to be greater. After a brief wandering of US $1802 / ton, the low reached US $1796 / ton. As of 18:10, Lun Al closed at US $1801 / ton. Closed at the small positive line, recorded Sanlianyang, the center of gravity jumped above the 5-10-20 daily average, up $22.50 / ton, or 1.26%, the opening of the third line of the daily KDJ sharply upward. Today, the Federal Reserve announced that the resolution is in line with market expectations for future interest rate cuts. The US dollar index fell more than 600 points, the outer metal turned red across the board, and Lun Aluminum gained momentum within a day. We are concerned about whether the release of relevant data in the United Kingdom and the United States in the evening and whether the market atmosphere can continue.

The performance of the 1908 contract of Shanghai Aluminum Company was suppressed first and then rose today. In the morning, it opened at 13915 yuan / ton, and the shadow line briefly touched an intraday high of 13920 yuan / ton. In the afternoon, the concussion slid as low as 13865 yuan / ton and fell below the daily average. However, due to the improvement in the macro atmosphere in the past two days, there was still some support below the aluminum price after falling back. Shanghai aluminum then began to turn upward from the low, and returned to the high level around 13910 yuan / ton, closing at 13910 yuan / ton, up 55 yuan / ton, an increase of 0.4%. Trading volume decreased by 32500 hands to 115000 hands, position increased by 1978 hands to 259000 hands, closed at the small positive line, the center of gravity rose back to above the 5-day moving average, recorded Sanlianyang, daily KDJ third line up, MACD green line shortened. As a result of the dove signal released by the Fed's interest rate resolution, the market trading atmosphere has improved, and aluminum prices have gone up slightly while the fundamentals are temporarily stable, but considering that the supply and demand side is still short, the upper space is expected to be limited. In the evening, we will continue to pay attention to the changes in long and short positions and the impact of relevant macro news on market sentiment.

Aluminum opened the month performance range volatility, the second trading phase stepped down the ladder to continue to maintain a narrow range of fluctuations. In the afternoon, the trading price in Shanghai market was between 13890 yuan / ton and 13910 yuan / ton, and a small amount of spot was traded around 13920 yuan / ton under the leadership of a large household. Wuxi market price concentrated around 13900,13920 yuan / ton, and the spot price in Hangzhou area was around 13940-13960 yuan / ton. In the first trading stage of the afternoon, the market trading was active, the shippers were more than the recipients, the aluminum price in the second trading stage was low, and the transaction activity of middlemen and traders converged obviously. Downstream aluminum prices rose for two days in a row, continue to maintain a wait-and-see attitude, do not rush to stock for the weekend, today is still purchasing according to rigid demand. On the whole, the deal in East China today is OK. Afternoon aluminum upward, although traders quoted in 13910 to 13920 yuan / ton, but the actual transaction is not much.

Lead: within a day, Lun lead opened at US $1904 / ton. In the Asian session, at the beginning of the day, under the influence of the weak trend of the internal plate, the concussion of Lun lead fell to US $1893 / tonne, but the 10-day moving average below was supported. In addition, the US Index continued to weaken, Tizhen Lun lead rose, and then ran along the US $1915 / ton line. In the European session, Lun lead continued its consolidation trend. As of 16 / 09, Lun lead temporarily closed at US $1915.5 / ton, up US $13.50 / ton. It rose 0.71%. Lun lead temporarily closed Xiaoyang line, basically make up for yesterday's decline, and the medium-and short-term EMA showed an upward market, it is expected to be supported by the 10-day EMA at night, trying to impact the top 1930 yuan / ton platform suppression.

Within a day, the Shanghai lead 1907 contract opened at 16140 yuan / ton. At the beginning of the day, the bulls escaped from the market. The Shanghai lead center of gravity moved down to 16095 yuan / ton for consolidation, and finally closed at 16090 yuan / ton, down 150 yuan / ton, down 0.92%. The position was reduced by 2438 hands to 35206 hands.

Another main contract to 1908 contract, within days, Shanghai lead main 1908 contract opened at 16125 yuan / ton, early in the day, short add code into the market, Shanghai lead shock down to 16060 yuan / ton, followed by 16090 yuan / ton platform shock, finally closed at 16095 yuan / ton, down 135 yuan / ton, down 0.83%, position increased 3748 hands to 39264 hands. Shanghai lead closed in the negative line, the upper impact is weak, the upper 16300 yuan / ton compression force is strong, coupled with the medium-and short-term moving average trend is flat, it is expected that Shanghai lead may wander around Wanliu at night.

In the south of Shanghai market, 16100 yuan / ton of lead in Muron is quoted at 30 yuan / ton for 1907 contract; 16120 yuan / ton for sands, 50 yuan / ton for 1907 contract; 16000 yuan / ton for imported lead, 7050 yuan / ton for discount for 1907 contract; and 3050 yuan / ton for 1907 contract water for Jijin, Wanyang and Shuangyan lead in Jiangsu and Zhejiang areas. At the same time, the supply of goods flowed into the market after delivery, and the market supply increased obviously. the quotation of the holder followed the market, and there was little discount quotation. At the same time, the downstream storage enterprises purchased on demand. However, due to the obvious advantage of the price of recycled refined lead (maintaining the average price of SMM1 electrolytic lead 150 to 100 yuan / ton), the transaction situation in the bulk market has not improved.

Guangdong market Nanhua lead 16100 to 16150 yuan / ton, the average price of SMM1# lead to 50 yuan / ton; southern storage 16100 to 16120 yuan / ton, for 1907 contract water 30 to 50 yuan / ton quotation; lead price gradually fell, but downstream to sales and fixed production, procurement to rigid demand. Henan Yuguang and other smelters mainly to long single transaction; Jinli 16000 to 16020 yuan / ton, the average price of SMM1# lead discount 80 to 100 yuan / ton quotation; Wanyang 16020 to 16030 yuan / ton, to SMM1# lead average price 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: Yunnan region supply and demand two light, some small enterprises 15800 yuan / ton, the average price of SMM1# lead discount 300yuan / ton. Lead price shock fell, the downstream mainly to purchase recycled lead, electrolytic lead procurement mood is not high.

Zinc: the high jump of Geneva zinc opened at US $2480 / ton, and at the beginning of the day, zinc reached US $2495 / ton, which coincided with the appearance of the 20-day EMA. Len Zinc quickly fell down near US $2463 / ton to find support, quickly stopped and repaired, and rose to US $2485 / ton, recording a V-shaped figure. Near the European trading session, Lun Zinc concussion upward, easily exceeding US $2500 / ton, touching US $2504 / ton blocked, as of 1735, Zinc was down $28, or 1.17 per cent, at $2491 a tonne. Geneva zinc operates as a whole in the middle and lower track of Brin Road, around US $2500 per ton, and LME zinc stocks have fallen again. Or give Len zinc a certain amount of repair kinetic energy, but above blocked 20-day moving average, night or continue to run around the 10-day moving average.

Within a day, the main 1908 contract of Shanghai zinc opened at 19865 yuan / ton, and at the beginning of the day, Shanghai zinc reached 19960 yuan / ton, and then the suppression of the integer position appeared. Shanghai zinc quickly fell to 19850 yuan / ton, followed by a large number of short positions. Shanghai zinc was frustrated and quickly went down to 19665 yuan / ton. After probing low, it tried to rise back, but the return was weak. The concussion went up to 19850 yuan / ton near the lower track of Brindao, and closed down 19865 yuan / ton at the end of the day. Compared with the previous transaction, it fell 200 yuan per ton, or 1%, with trading volume up 38312 hands to 640000 hands and positions increased by 3380 hands to 298000 hands. During the day, Shanghai zinc recorded two consecutive overcast, attached under the shadow line to prick Bolin Road under the track support, mainly due to the overnight Shanghai zinc down to 20,000 yuan / ton integer gate, the market bearish mood increased sharply, during the day short significantly depressed zinc prices, although some short positions left the market in the afternoon to repair the decline in zinc prices, but zinc prices are still superior to action. Observe the support strength of the lower track of Brin Road at night.

Shanghai 0# zinc mainstream transactions 20080 to 20180 yuan / ton, Shuangyan, Chihong transactions in 20110 to 20220 yuan / ton, 0 # ordinary July to 140 to 160 yuan / ton; Shuangyan, Chi Hong newspaper rising water 170 to 190 yuan / ton. 1 # the mainstream transaction was between 19980 and 20120 yuan per ton. Today, zinc futures continue to fall, but the market circulation is still loose, coupled with the outflow of warehouse receipts, and near the end of the weekend, the long order delivery is nearing the end, the downstream procurement has also been basically completed, the market demand has obviously weakened, the imbalance between supply and demand has further intensified, and the early market quotation has continued the downward trend, from 160 yuan / ton of water to 140 yuan / ton of water. Some of the domestic brands due to warehouse problems can not participate in the long single transaction quotation on the low side of 10 to 20 yuan / ton, but the market bearish period and the basis of the mood heating up, the overall transaction is generally stable compared with yesterday, but the trading atmosphere is still cooling.

Guangdong 0 # zinc mainstream trading in 19870 20090 yuan / ton, Shanghai zinc 1908 contract water 200 250 yuan / ton, Guangdong stock market than Shanghai market from yesterday's discount 120 yuan / ton to discount 130 yuan / ton. Disk down, refineries slightly cherish the sale, the market source of goods circulation has been slightly reduced. The early quotation of the holder mostly focused on about 60 yuan / ton of 07 liters of water, but there was no more reaction in the market, and the subsequent transaction was about 50 yuan / ton of 07 liters of water. Entering the second trading period, the market fell more, the quotation focused on the 08 contract rising water 200-230 yuan / ton, but the willingness to receive goods downstream obviously weakened, did not boost the market transaction, today Tianjin market trading atmosphere is light, the overall transaction situation is significantly weaker than yesterday. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 19870 to 20090 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 20020 21290 yuan / ton, 0 # ordinary brand mainstream transaction in 20020 20170 yuan / ton, 1907 contract water 150 to 220 yuan / ton, Tianjin market than Shanghai market discount 120 yuan / ton to discount 50 yuan / ton. Disk down, refineries slightly cherish the sale, the market circulation of goods slightly tightened than a few days ago. In the morning, the quotation of the holder focused on around 170 yuan / ton of water for 07 contract, but there was no more reaction to the price downstream, and the subsequent holder lowered the water supply again to about $150,220 / ton for 07 liter, but the market did not see a significant boost after the price adjustment. The main reason is that the market has more downturns, the market is more pessimistic, and is more bearish on the follow-up zinc prices, and there is no more willingness to receive goods downstream. A few days before superimposed, there was some replenishment on the downside. Today, the trading atmosphere in Tianjin market has become lighter, and the market transaction situation has cooled again compared with yesterday. 0 # Zijin, Hongye, laring, Chi Hong, West Mine, etc., were sold in the vicinity of 20020 to 20170 yuan / ton, and 1 # Zijin, Chi Hong and Hongye were sold in 19970 to 20120 yuan / ton.

Tin: after the opening of the $18995 / ton electronic disk today, the overall consolidation trend was maintained in the sub-session, rising to $19075 / ton at the end of the day. After the opening of the European trading, LME inventory report continued to increase a small 80 tons, but the increase has slowed significantly, after falling slightly to $18980 / ton at the beginning of the day, as a result of the sharp fall in the US dollar index, Lensi hit bottom and rallied quickly. As of 17-30, the latest price of Lensi was $19175 / ton, showing a positive line, and the physical part was located near the 5-20 EMA, above which it was suppressed by the 10-day moving average. The lower support is expected to be near the previous platform high of $18800 / tonne and the upper resistance near the 40-day moving average of $19300 / tonne. This evening, you can focus on the number of initial jobless claims in the United States for the week ended June 15 (10,000) and the EIA natural gas stocks in the United States for the week ended June 14 (100 million cubic feet).

Shanghai tin main 1909 contract last night after the opening of 143540 yuan / ton, the overall upward trend of shock. After opening 144010 yuan / ton in early trading this morning, it fell slightly to 143780 yuan / ton at the beginning of the day, continuing the upward trend of concussion last night, and finally closed at 144100 yuan / ton, up 50 yuan / ton, or 0.03 per cent. The trading volume was 8758, a decrease of 5536. The number of positions was 41580, a reduction of 298. Today, Shanghai tin overall shows a concussion upward trend, with the positive line closing, and the upper part is suppressed by the 5-20 EMA. It is expected that the lower support of Shanghai tin will be located at the high point of the previous platform of 143500 yuan / ton, and the upper resistance will be located at the 5-20 EMA of 144400 yuan / ton.

Spot market, today's mainstream trading price of 142800 to 144500yuan / ton, today Shanghai tin plate overall stable in the vicinity of 144000 yuan / ton, downstream enterprises wait-and-see mood strong buying interest is weak, the overall trading atmosphere of the spot market is light. Set Yunxi liter water 100 yuan / ton-flat water, ordinary cloud word sticker 400 to 600 yuan / ton, small brand discount 800 to 1000 yuan / ton.

Nickel: Lun Ni opened at US $12145 / tonne today. At the beginning of the day, Lun Ni fell US $12110 / ton before concussion upward. At noon, it was arranged horizontally at US $12200 per ton. In the afternoon, the nickel continued to rise in the afternoon all the way up and extended to the European session. As of 1700, it was quoted at US $12350 per ton. LME stocks were reduced by 1002 tons to 16936 tons. Overnight attention should be paid to the number of initial jobless claims in the United States after the adjustment for the quarter ended June 15 and the Philadelphia Fed manufacturing employment index for June; and the initial consumer confidence index for June in the euro area.

Shanghai nickel 1908 opened today at 99850 yuan / ton, at the beginning of the day, shock down, below 99500 yuan / ton first-line support after shock back up, touch high 100290 yuan / ton. Subsequently, Shanghai nickel as a whole received a daily average of 99700 yuan / ton first-line support, under pressure 100000 yuan / ton customs, range volatility, closed at 99880 yuan / ton, compared with the previous trading day settlement price rose 500yuan / ton, an increase of 0.50%, position volume increased by 13600 hands to 251000 hands, trading volume increased by 80000 hands to 700000 hands. Throughout the day, the Shanghai nickel main contract closed at the Xiaoyang line, completely standing above the 5-day moving average. The position of the Shanghai Ni 1907 contract was reduced by 15800 to 102000 today, resulting in a capital outflow of 122 million yuan. In the evening, we will pay attention to whether Shanghai nickel can continue to be based on the 5-day EMA, move forward above all EMA, and maintain a strong upward trend and energy.

SMM 1 # electrolytic nickel 99700 100400 yuan / ton. In the morning, Russia and nickel level water to 50 yuan per ton of water than Wuxi 1907. Jinchuan nickel than Wuxi 1907 contract generally reported 700 yuan / ton of water. Russian nickel and Jinchuan rising water is generally down, traders feedback that the recent spot market supply gradually increased, and this morning the overall market price is higher, downstream consumption is relatively light, spot market trading is very light, some traders Russian nickel discount in the shipment, but the quantity is not large. Jinchuan Company has also been actively shipping water in the near future. Traders followed the reduction of Jinchuan Shengshui, Jinchuan nickel factory price of 100000 yuan / ton, down 200 yuan / ton from yesterday, the mainstream transaction at 99650 100200 yuan / ton. Afternoon nickel prices continue to high shock, Russian nickel transactions continue to be light, Jinchuan nickel due to Jinchuan rising water down obviously, some traders actively collect gold Sichuan nickel. Generally speaking, today's transaction is average, the mainstream transaction is 99750 to 100200 yuan / ton.

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