Home / Metal News / Copper / [SMM afternoon Review] Shanghai zinc rose 1.5 per cent non-ferrous metal red fat green lean iron ore fell more than 3 per cent crude oil rose more than 1 per cent
[SMM afternoon Review] Shanghai zinc rose 1.5 per cent non-ferrous metal red fat green lean iron ore fell more than 3 per cent crude oil rose more than 1 per cent
Jun 26,2019 11:56CST
The content below was translated by Tencent automatically for reference.

SMM6 26 month news: this morning non-ferrous metal market red fat green thin, by noon close, Shanghai zinc rose nearly 1.5%, Shanghai nickel rose nearly 1%, Shanghai copper rose nearly 0.8%, Shanghai aluminum rose nearly 0.2%, Shanghai lead fell nearly 0.2%, Shanghai tin fell nearly 0.3%; In terms of zinc, the certainty of the recovery of zinc supply in the medium term is strong, and the current trend of seasonal weakness in consumption has been very prominent. Although the domestic zinc ingot inventory has been degenerated again on the 24th, the upward trend of inventory has not changed in the later period, so the zinc fundamentals are expected to continue, while the LME zinc delivery is still expected.

Black system, coke rose nearly 1.3%, coking coal rose nearly 0.7%, thread rose nearly 0.4%, hot coil rose nearly 0.3%, iron ore fell nearly 3%, news surface, Vale Brucutu mining area has fully resumed production, Brazilian shipments have rebounded, coupled with Tangshan environmental protection production restrictions, downstream steel mills procurement intention is not strong, raw material demand margin weak, port transactions are general, but the port inventory is still low.

Crude oil rose nearly 1.5% in the morning, and widely watched inventory data showed that U. S. crude stocks fell more than expected, adding to the oil market, which is already worried about the conflict between the United States and Iraq.


Spot today:

Lead: Shanghai Sands, Southern lead 16240 yuan / ton, 1907 contract water 50 yuan / ton, Jiangsu and Zhejiang Jijin, Tongguan, Shuangyan lead 16210 to 16240 yuan / ton, 1907 contract water 20 to 50 yuan / ton, of which the discount of 19170 to 19180 contract is 10 to 20 yuan / ton. The futures market is weak, the quotation of the holder follows the market, and a few begin to downgrade the quotation to rise the water, and the regenerated refined lead maintains the deep discount (the average price of SMM1# electrolytic lead is about 150yuan / ton), the downstream is not optimistic about the future market, continue to wait and see, bulk market transactions are still not significantly improved.


Zinc: Shanghai 0 # mainstream zinc transaction 2010 20230 yuan / ton, Shuangyan and Chihong 20250 20270 yuan / ton, 0 # ordinary July discount 40-10 yuan / ton; Shuangyan and Chihong flat water-30 yuan / ton. 1 # the mainstream transaction was between 20160 and 20180 yuan per ton. Shanghai zinc 1907 contract intraday slightly lower after finishing operation, the early market closed at 20260 yuan / ton. After zinc futures rose, the market was still dominated by shipments, but the demand for traders was weak, and there was also a small amount of wait-and-see inquiry downstream, and the imbalance between supply and demand in the market intensified. The quotation was rapidly lowered from 10-flat water to 30-10 yuan / ton, but the transaction was unusually limited. The consignee was relatively favored by the net average price of 15 yuan to 20 yuan / ton, and there was no price difference between that month and next month. Follow-up quotation further reduced by about 10 yuan / ton, the transaction is still dull part of the holder temporarily left the market, the overall market transaction is weak, the transaction is gradually weakening this week.

Tianjin market 0 # zinc ingot mainstream transaction in 20330 21490 yuan / ton, 0 # ordinary brand mainstream transaction in 20330 20450 yuan / ton, 1907 contract water 100 200 yuan / ton, Tianjin market increased from 80 yuan / ton yesterday to 150 yuan / ton. Refinery normal shipment, the market supply is more abundant than yesterday. The holder is active in shipping, the quotation is concentrated on the 07 contract rising water 100 200 yuan / ton or so, the market is mainly inquiry and wait-and-see, the willingness to receive goods is not good, mainly because the price fell more last week, downstream every fall to make up for the warehouse more, basically to the next week or two reserve demand is overdrawn, so today's price rebound, the market is mainly wait-and-see. The overall transaction atmosphere is flat, the transaction situation is basically the same as the day before, and has not been significantly improved due to the increase in the arrival of goods. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold at 20330 to 20450 yuan / ton, and 1 # Zijin, Chihong and Hongye were sold at 20280 to 20400 yuan / ton.

Guangdong 0 # zinc mainstream trading in 2010 20270 yuan / ton, Shanghai zinc 1908 contract water 200 to 210 yuan / ton, Guangdong stock market than Shanghai market from yesterday posted level water near 10 yuan / ton. Refinery normal shipment, the market supply circulation is more abundant. The early quotation of the holder focused on the flat water of the contract of the current month to about 10 yuan / ton, but the willingness of the market to receive the goods was not boosted, entering the second trading period, the quotation of the holder mostly focused on the increase of 200 yuan to 210 yuan / ton of 08 contract, and the market transaction was slightly improved. Yesterday more long orders expired, today more enterprises do settlement, the willingness to receive goods is not good, superimposed disk uplink, the willingness to receive goods in the market is more limited. Overall, the Guangdong market today is flat, slightly worse than yesterday. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 2010-20270 yuan / ton.

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