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June 27th SMM basic Metals spot Trading Day Review
Jun 27,2019 18:53CST
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Source:SMM
June 27th SMM basic Metals spot Trading Day Review
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Copper: Yapanlun copper opened at US $5986.5 / tonne today. After the opening, the overall center of gravity moved upward, and the European market was as high as US $6012 / ton. Then entered the European trade, the short high, the copper price center of gravity fell back, at the low US $5983 / ton position performance stopped falling, the center of gravity returned to 6000 US dollars / ton pass, the center of gravity returned to 6000 US dollars / ton pass, as of 1730, Lun Copper was at 5999 US dollars / ton, down 0.17%, the US dollar index was 96.21, and the US crude oil was at 58.94 US dollars / barrel. Evening attention to U. S. employment, consumption, GDP and other economic data, will provide guidance to the dollar, the dollar is in the recovery range, there is some pressure on copper prices. At present, the long upper shadow line cross star appears in Lun Copper, the opening of KDJ index is in the high downward trend, and the original technical aspect is more and more weak. Wait for guidance from the dollar and crude oil at night to test whether Lun Copper can hold $5980 a tonne at night.

Today, Shanghai Copper main contract 1908 opened at 47110 yuan / ton in the morning, and then slightly fell to 47050 yuan / ton, and then continued to rise to the highest level of 47160 yuan / ton in the day, and then fell to 47070 yuan / ton position. In the afternoon, the market still maintained the trend of raising first and then suppressing, and fell to the lowest level of 47040 yuan / ton in the day, and recovered slightly to 47090 yuan / ton at the end of the day, down 230 yuan / ton, down 0.49%. Today, the overall disk showed a concussion pattern, the disk around the daily average near the shock finishing, the center of gravity in the vicinity of 47110 yuan / ton, price fluctuations in the range of 120 yuan. Today, the overall performance of the long position reduction trend, Shanghai Copper main contract position decreased by 12000 hands to 230000 hands; trading volume decreased by 54000 hands to 137000 hands. Today, the position trend is obvious, Shanghai Copper 1909 and 1910 contract position increased by 23000 hands to 216000 hands. The Shanghai Copper Index rose 1026 hands to 595000 today, while trading volume fell 84000 hands to 272000. Today's market trend is stable, mainly due to the macro trend is still not clear, the market is waiting for the news of the G20 summit to guide the market, Shanghai copper closed down slightly today, the KDJ index expanded weak, technology in the face of copper price lack of support. In the evening, wait for the guidance of the outside market to test whether Shanghai Copper can stand firm at 47200 yuan / ton.

Today, the spot price of electrolytic copper in Shanghai is 50 yuan / ton, the transaction price of copper is 47050 yuan / ton ~ 47110 yuan / ton, and the transaction price of copper is 47080 yuan / ton ~ 47150 yuan / ton. Shanghai copper gave up some of yesterday's rise to 47000 yuan / ton line. Most enterprises enter the half-year settlement state, the market is basically the invoice quotation next month, the holder maintains yesterday's quotation in Pingshui ~ Shengshui 50 yuan / ton range, the transaction is light, the good copper holder takes the initiative to lower the quotation, the good copper Shengshui 30 40 yuan / ton or so receives the goods, the flat water overall does not see the substantial lower expansion transaction, the small part of the supply has the depressing price space, the morning overall transaction does not improve; Wet copper still maintains yesterday's quotation discount 60 ~ discount 30 yuan / ton. As the holder still has no intention to lower the price, the downstream willingness to pick up the goods is lack, the market performance stops, so the supply and demand sides maintain the stalemate situation. In the afternoon, the spot market is becoming more and more light, and into the end of the month, the enterprise is in the settlement stage, the source of goods is lack of attention, individual holders have no choice but to quote a small discount, but the performance of supply and demand is light. In the afternoon, Pingshui copper discount 10-liter 10 yuan / ton, good copper reported 30-liter water 50 yuan / ton, the transaction price is in the range of 47010 yuan / ton-47120 yuan / ton.

 

Aluminum: Lun Al opened at US $1815 / ton in the morning, and its performance in Asian trading session rose as high as US $1825 / ton, but continued to rise without power support, and then fell back to the opening line of US $1815 / ton. After entering the European trading session, Lun Al hovered at US $1818 / ton line. Today's LME inventory report showed that Lun Aluminum increased by 5150 tons, at this time the short seller saw the right time to enter the market pressure. Lun aluminum fell all EMA support, low fell to $1809 / ton, as of 17:40, Lun aluminum closed at $1812 / ton, down $3 / ton, down 0.17%, trading volume fell 13194 hands to 2996 hands, closed at the Xiaoyin line, giving up some of yesterday's gains, the center of gravity is basically flat from yesterday, still above the 5-day moving average. In the evening, we continued to focus on macro data such as the dollar index, US GDP and May existing home sales, as well as the impact of the G20 summit leaders' itinerary news on external metals.

The 1908 contract of Shanghai Aluminum main Company opened at 13890 yuan / ton in the morning, climbing slowly at the beginning of the day, falling back after the highest point in the day of 13910 yuan / ton, maintaining a wide range of shocks in the afternoon, twice up at 13900 yuan / ton, and stopping at 13875 yuan / ton twice. The daily market closed at 13900 yuan / ton, up 5 yuan / ton, an increase of 0.04%. It closed at the Xiaoyin line, the upper part was under pressure on the 20th moving average, and the center of gravity was slightly lower than yesterday. Trading volume increased by 21464 hands to 121000 hands, position volume decreased by 12274 hands to 247000 hands, today long position reduction is the main, daily KDJ third line continues to face up. The macro news within the day is relatively light, Shanghai aluminum in the lack of clear information under the guidance of the performance of interval volatility, some long positions can be seen that the market is still short of expectations, continue to pay attention to the long short position changes and the announcement of relevant macro news.

Aluminum open the month to maintain range volatility. In the morning, the transaction price between Wuxi and Wuxi was between 13910 and 13920 yuan / ton. With the announcement of the online price, the oversupply in the spot market on that day was highlighted. Shanghai prices began to focus on 13890 to 13900 yuan / ton, pasted 10 yuan / ton to Pingshui for the current month, Wuxi transaction price was between 13900,13920 yuan / ton, Hangzhou transaction price was between 13940 and 13960 yuan / ton, and the difference between the current month and next month's ticket price was about 10 yuan / ton. As the middle of the year is nearing the end of the month, the settlement at the end of the month and the settlement in the middle of the month are on the agenda. Taking into account the settlement cycle, traders and middlemen have reduced business volume today, received not much, and the market transaction activity is not as active as yesterday. As a result, the price fell slightly before noon. Moreover, compared with Wuxi, the market supply in Shanghai is more and the consumption is not good, and the transaction today is even worse than in Wuxi. Spot water also from the previous increase of 10 yuan / ton around, to flat water or small discount. Downstream manufacturers today are still on-demand procurement, flat delivery, and yesterday's performance is almost the same. Today, the overall transaction in East China is poor. In the afternoon aluminum maintained a narrow range of fluctuations, the market performance was flat, only a small number of traders quoted goods, the price was concentrated in the vicinity of 13910 yuan / ton, on the plate near flat water, there were few transactions.

 

Lead: within a day, Lun lead opened at US $1923 / ton. In the Asian session, at the beginning of the day, the center of gravity of Lun lead slowly moved up because of the strong pressure on the top US $1930 / ton platform. Lun lead continued to run along the US $1926.5 / ton line and entered the European period. During the period, it hit US $1930.5 / ton at one time, as of 16 / 14, Lun lead temporarily closed US $1929 / ton, up US $6.50 / ton. It rose 0.34 percent. Lun lead temporarily closed to the Xiaoyang line, the trajectory has not changed, still upward along the 5-day EMA, and at the weekly level, the Lun lead runs along the uplink channel, and the 5-10-day EMA forms a gold fork, which is expected to impact the US $1940 / ton pressing platform again at night. In the near future, we will focus on the news related to the G20 summit.

Within a day, the Shanghai lead 1908 contract was opened at 16185 yuan / ton. At the beginning of the day, Shanghai lead was under pressure at the daily average and consolidated along the 16145 yuan / ton line, nearing the close, short positions added to the market, Shanghai lead fell to 16035 yuan / ton, and finally reported at 16040 yuan / ton, down 185yuan / ton, down 1.14%, and the position increased by 1946 hands to 53732 hands. Shanghai lead closed the Dayin line, fell below the EMA support, and 5, 10 days EMA formed a dead fork, coupled with the weekly level, the 5-day EMA showed a downward trend, it is expected to test the Shanghai lead again at night.

Shanghai market gold sand, southern lead, 16165 to 16185 yuan / ton, 50 to 70 yuan / ton of water for 1907 contract, 16065 yuan / ton of imported lead, 50 yuan / ton of discount to 1907 contract. Jiangsu and Zhejiang areas Jijin, copper crown lead 16145 to 16175 yuan / ton, the 1907 contract water 30 to 60 yuan / ton quotation. The futures market rise is weak, the holder quotation follows the market, but the trader shipping enthusiasm has declined, but the regenerated refined lead maintains the deep sticker (to the SMM1# electrolytic lead average price discount 150 yuan / ton or so), the downstream does not hold the optimistic expectation to the future market, continues to wait and see, the bulk order market transaction has not improved obviously.

Guangdong market Nanhua lead 16150 yuan / ton, SMM1# lead average price flat water to liter water 50 yuan / ton quotation; southern storage south 16165 yuan / ton, 1907 contract water 50 yuan / ton quotation; southern storage and Mongolia from 16150 yuan / ton, SMM1# lead average price 50 yuan / ton quotation. Lead price shock weakness, some storage enterprises to rigid demand procurement, the market fear of falling mood is stronger. Henan Yuguang and other smelters mainly to long single transaction; Jinli 16020 yuan / ton, the average price of SMM1# lead discount 80 yuan / ton quotation; Wanyang 16030 to 16050 yuan / ton, SMM1# lead average price discount 50 to 70 yuan / ton quotation; refineries maintain discount shipment, downstream today wait-and-see, the market transaction is bleak. Other areas such as: Hunan Shuikoushan 16100 yuan / ton, the average price of SMM1# lead flat water quotation (traders). Yunnan small factory lead 15800 15850 yuan / ton, the average price of SMM1# lead discount 250 300 yuan / ton; refineries mainly long single transaction, bulk order shipping enthusiasm is not high, but the terminal consumption is relatively low, the market transaction is still light.

 

Zinc: Geneva Zinc opened at US $2503 / tonne. At the beginning of the day, Len Zinc ran around the daily average of US $2505 per tonne, entered the European trading session, and along with the rise of the US Index, Len Zinc was frustrated to probe into the US $2490 per tonne line, and then tried to rise and failed to gain stability. The center of gravity of the operation moved down to close to the 10-day moving average. By 16-20, Len Zinc closed at US $2485 per tonne, down US $15.5 per tonne, or 0.62 per cent. The overall operation of Geneva zinc above the 20-day moving average, overseas LME zinc 0-3 spot discount fell from more than US $100 / ton to US $89 / tonne. Under the weakening of overseas back structure, LME zinc stocks increased by more than 5000 tons two days before superposition, indicating that the situation of tight supply in the early stage of overseas markets may have been slightly alleviated, and the support of the 20-day moving average was observed at night.

The main 1908 contract of Shanghai zinc opened at 19975 yuan / ton at the beginning of the day. At the beginning of the day, the main contract of Shanghai zinc was opened at 19975 yuan / ton. At the beginning of the day, the main contract of Shanghai zinc was opened at 19975 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19975 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19975 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19975 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19975 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19975 yuan / ton. Trading volume was reduced by 8178 hands to 448000 hands, and positions by 3526 hands to 266000 hands. Within the day, Shanghai zinc received a green column, attached to the shadow line under the 10-day EMA support, the overall operation in the vicinity of the 20-day moving average, within-day Shanghai zinc interval finishing, the G20 summit is just around the corner, the market is optimistic about the negotiations between China and the United States or give zinc prices a certain support power, follow-up attention to macro news guidance, night Shanghai zinc or still around the middle track of Brin Road.

Shanghai 0# zinc mainstream transaction 20100-20140 yuan / ton, Shuangyan, Chihong transactions in 20160-20180 yuan / ton, 0 # ordinary July discount 60-30 yuan / ton; Shuangyan, Qihong discount 30-liter water 20 yuan / ton. 1 # mainstream transaction is between 20020 and 20060 yuan / ton. Zinc in the future has dropped slightly, but the market demand continues to be weak, and the imbalance between supply and demand has not been alleviated. The discount has been further expanded from 40 to 30 yuan per ton to 60 yuan per ton. However, for the long order transaction, the average price of the stable and safe SMM net has risen by 10 to 20 yuan per ton, and will expand faster at the end of the month. The market trading in the second trading period focused on Shuangyan, Chihong, torch and imports and other downstream brands, but the actual consumption has no bright spot, the overall transaction continues to be weak.

Guangdong 0 # zinc mainstream transaction in 20060 20130 yuan / ton, Shanghai zinc 1908 contract water 140 150 yuan / ton, Guangdong stock market than Shanghai stock market yesterday rose 10 yuan / ton near Pingshui. Refinery normal shipment, the market supply of goods is abundant. In the morning, the quotation of the holder focused on the rising water of 180 to 200 yuan / ton for the 08 contract, but the market sentiment was strong and the willingness to receive the goods was not good. In the second trading session, some holders took the lead in lowering the rising water to around 140150 yuan / ton for the 08 contract, and the market transaction was significantly improved by the discount of 60 yuan to 70 yuan / ton for the current month. Today's transaction is dominated by the single contribution of the chief trader, with less downstream receiving, and the overall transaction situation is slightly better than that of yesterday. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 2010-20270 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 2030 21280 yuan / ton, 0 # ordinary brand mainstream transaction in 2030 20330 yuan / ton, 1907 contract water 90 140 yuan / ton, Tianjin market than Shanghai market yesterday rose water 180 yuan / ton to rise water 150 yuan / ton. Refinery normal shipment, the market supply circulation is more abundant. The holder quoted in the morning on the 07 contract rising water 150 to 200 yuan / ton, but the market is more willing to wait and see the price, do not want to receive the goods. Follow-up holders cut water to 90 to 140 yuan / ton, the market willingness to receive goods slightly better, and more low-cost brand goods to contribute to the main transaction. The main reason is that a few days ago, the lower reaches of the depot overdrawn a part of the follow-up purchase volume, resulting in an increase in the circulation of goods in Tianjin today, but the transaction situation is worse than yesterday. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold in 2030-20330 yuan / ton, and 1 # Zijin, Chihong, Hongye, etc., were sold in 20180-20280 yuan / ton.

 

Tin: after the opening of the electronic disk of US $18830 / ton today, the Asian session to the beginning of the European market generally revolved around the daily average of US $18830 / ton, during which the daily moving average was pierced up and down, the high level was blocked by US $18900 / ton, and the low level relied on US $18770 / ton. As of 18 / 00, the latest price of Lunxi was US $18800 / ton, showing a small negative line, located below all averages. Today, Lunxi's center of gravity is under pressure, there are signs of moving away from the EMA, and the near-term target is expected to be near the previous low of $18600 per tonne. This evening, you can focus on the number of initial jobless claims in the week ending June 22 in the United States (10,000), the final value of the actual quarterly GDP rate in the first quarter (%), and the monthly rate of contracted sales of existing homes in the United States after the May quarter (%).

Shanghai tin main 1909 contract last night after the opening of 143680 yuan / ton, the overall maintenance of concussion consolidation trend, all the way up to 143900 yuan / ton at the beginning of the market was blocked back to 143400 yuan / ton below the opening price, and rose slightly at the end of trading. After the opening of 143410 yuan / ton in early trading this morning, the market fell all the way to an intraday low of 143060 yuan / ton, but failed to break the level effectively. The bottom rebound fluctuated all the way up to the opening price, and finally closed at 143690 yuan / ton, up 210 yuan / ton, an increase of 0.15 per cent. The trading volume was 11238 hands, and the position volume was 43346 hands, an increase of 384 hands. Today, Shanghai tin closed with a cross line, and the upper shadow line is located near the 5-day moving average. It is expected that Shanghai tin will maintain its consolidation trend in the short term, supporting 143500 yuan / ton below, and the next support will be located near the integer barrier of 143000 yuan / ton if it falls below.

Spot market, today's mainstream transaction price 142000 143500 yuan / ton, some 141800 yuan / ton low price sources exist. Today, the supply of low-priced small brands is more popular, but the overall trading atmosphere of the spot market is still weak near the end of the month. Set Yunxi liter water 200 yuan / ton, ordinary cloud word sticker 400 to 700 yuan / ton, small brand discount 800 to 1100 yuan / ton.

 

Nickel: Lenniya opened at US $12500 / tonne today. At the beginning of the day, it fell slightly to US $12435 / ton and rose after the shock, but was under pressure of US $12570 / ton. After a slight pullback near the daily average in the afternoon, and then into the European session, Lennie once again started a sharp rally, touching $12725 / tonne, even if LME inventories rose 642t to 165480 tonne today, failed to stop the upward trend. As of 1700, it was quoted at US $12680 per ton. The fourth consecutive positive performance in the week, has now completely jumped above all the recent EMA, the technical side also continued to be strong, the recent recovery in the small low dollar has not been able to stop the bullish force of the bulls. Pay attention to the guidance on the change of long and short positions in the evening.

Shanghai nickel 1908 opened at 101190 yuan / ton, at the beginning of the plate, Shanghai nickel below the daily average support, all the way up concussion. In the afternoon, after pushing up 101820 yuan / ton, the shock fell back to the daily average of 101100 yuan / ton to get support, and then the center of gravity settled around 101200 yuan / ton, closing at 101310 yuan / ton, up 1070 yuan / ton, or 1.07%, compared with the settlement price of the previous trading day. Trading volume decreased by 39500 hands to 388000 hands, and position volume decreased by 8400 hands to 217000 hands. Throughout the day, the Shanghai nickel main contract closed at the Xiaoyang line, has reached the Boll line on track. Pay attention to the resistance of 101500 yuan / ton line on Boll line in the evening.

SMM 1 # electrolytic nickel 100800 102500 yuan / ton. The discount of Russian nickel is about 300yuan / ton compared with Shanghai nickel 1908. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1300 yuan / ton. Compared with Wuxi 1907 contract, Russian nickel generally reported a discount of 200 yuan to 100 yuan per ton, and Jinchuan nickel generally reported a rise of 1500 yuan per ton compared with Wuxi 1907 contract. Early trading hours, the price around 101000 yuan / ton shock, Russian nickel shipment is more difficult, Jinchuan nickel basically rising water 1200 yuan / ton transactions. The second trading period, Russian nickel holders continue to reduce the Russian nickel sticker, but the effect is very small, the stimulus is limited, the lower reaches of the wait-and-see. Jinchuan nickel strong, although the transaction is weak, but electrolytic nickel supply is tight, supply and demand is weak. The ex-factory price of Jinchuan nickel is 102300 yuan / ton, 1300 yuan / ton higher than yesterday, and the mainstream transaction is 100800,102500 yuan / ton. After a brief shock in the afternoon, the market fell back to 101200 yuan / ton, close to the half-year settlement, the market is basically wait-and-see, some holders continue to downgrade discount shipments, but the response is flat all day, wait-and-see mood is strong, the mainstream transaction at 100700 to 102500 yuan / ton.

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