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SMM basic Metals spot Trading Day Review on June 28
Jun 28,2019 20:03CST
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Source:SMM
SMM basic Metals spot Trading Day Review on June 28
The content below was translated by Tencent automatically for reference.

Copper: today, Yapanlun copper opened slightly higher than US $6005 / ton, after opening up US $6017 / ton, the short position was suppressed, and the copper price began to fluctuate downward until it reached a low of US $5973.5 / ton before European trading, and then entered the European market, copper prices recovered to the US $6000 / ton barrier position, the G20 attitude was unknown, the market maintained a wait-and-see situation, and copper prices maintained a narrow range of volatility. At 18: 00, bronze was down 12% at $5998.5 a tonne, with the dollar index at 96.105 and crude oil at $59.43 a barrel. Evening attention to U. S. prices, personal spending, consumer confidence index and other economic data, will bring guidance to the dollar, the current dollar low volatility, there may be some room for recovery in the evening. At present, Lun Copper overcast entity elongates the shadow line, KDJ appears dead fork signal, technical aspect, before the continuous positive signal has changed. Wait for guidance from the dollar and crude oil at night to test whether Lentong can hold its 40-day moving average at night.

Today, Shanghai Copper main contract 1908 opened at 47090 yuan / ton in the morning, immediately as high as 47210 yuan / ton in the day. Due to lack of market confidence, copper prices fell rapidly to 47110 yuan / ton after small market confidence. Then after a small consolidation, the market continued to rise to around 47150 yuan / ton, and then the bulls quickly left the market. Copper prices fell all the way to 47030 yuan / ton, and the center of gravity remained near 47030 yuan / ton. After the opening of afternoon trading, the price of copper continued to rise to about 47150 yuan / ton, and the center of gravity remained around 47030 yuan / ton. The market quickly fell to the lowest level of 46890 yuan / ton in the day, fell below the 47000 yuan / ton mark, and then bounced back to settle between 46910 and 46990 yuan / ton. At the end of the day, it rose slightly to 47010 yuan / ton, down 90 yuan / ton, down 0.19%. Today, Shanghai Copper's main contract position decreased by 7394 hands to 222000 hands, while trading volume increased by 21000 hands to 157000 hands. The position of Shanghai Copper 1909 increased by 9636 to 174000, while the position of Shanghai Copper 1910 increased by 7100 to 59000. Today, the overall market showed a downward trend, lack of momentum, mainly because the market is worried about the outcome of the G20 summit negotiations, copper prices lack of momentum, the market waiting for the G20 release of news to guide the direction of copper prices, Shanghai copper above the pressure on the 5-day moving average and 40-day moving average, KDJ indicators showed negative cross, technology in the face of copper prices lack of further support. Waiting for the guidance of the outside market at night, whether Shanghai Copper can hold the 47000 yuan / ton gate at this time.

Today, the spot price of electrolytic copper in Shanghai is 10 yuan / ton to 50 yuan / ton, the transaction price of flat water copper is 46980 yuan / ton ~ 47080 yuan / ton, and the transaction price of copper is 47020 yuan / ton ~ 47120 yuan / ton. Shanghai copper maintained a concussion pattern of 47000 yuan per ton. Today is the final settlement date in June of the half-year, and the market activity is low, showing the full characteristics of settlement at the end of the month. Early trading holders continued yesterday's quotation Pingshui ~ Shengshui 50 yuan / ton, trading stopped, individual holders in the exchange request to lower the quotation, good copper as low as 30 to 40 yuan / ton, flat copper once had a discount of 10 yuan / ton source, low price source to attract some of the capital strength traders, attracted a wave of short-term receiving tide, and then the quotation quickly returned to the original quotation range of early trading. The price of copper is as low as 30 yuan / ton, and the price of copper is as low as 10 yuan / ton. the low price source attracts some traders with capital strength, which leads to a wave of brief receiving tide, and then the quotation quickly returns to the original quotation range of early trading. Most of the downstream also entered the settlement state, the actual demand weakened, wet copper price down to 70 ~ 50 yuan / ton discount. With the G20 summit approaching, the market risk sentiment has increased, the copper price at the 47000 yuan / ton mark appears to be in jeopardy, and the market has maintained a cautious wait-and-see attitude. Today, most of the active consignors are traders with funds and downstream customer groups, receiving goods at a low price in preparation for next week's cross-month transaction. In the afternoon, the market remained light, the transaction basically entered the settlement state, the market kept a wait-and-see view of the price, and a small number of quotators kept stable. In the afternoon, the price of copper was quoted as flat water-10 yuan / ton, and good copper was quoted for 40-50 yuan / ton. The transaction price is in the range of 46880 yuan / ton to 46950 yuan / ton. At present, the sources of copper imports stored by enterprises in the market are not very sufficient. Next week, after entering July, the shackles of funds will be lifted, the spot rising water may still remain firmly at the current rising water level, and the willingness to trade and the degree of activity will be greatly improved.

 

Aluminum: Lun Aluminum opened at US $1798 / ton in the morning. It rose and fell back in the Asian trading session. It first rose along the 10-day moving average of US $1805 / ton and then fell back. It fell all the way to a slight stay around US $1795 / ton. After entering the European trading session, the decline was difficult to change. Long positions reduced to suppress aluminum prices to continue to explore, recording a daily minimum of US $1789.5 / ton. After hovering for more than a long time in the US $1791 / ton line, it began to rise for the second time in the day. As of 19:20, Lun Aluminum had shown a weak upward performance at US $1797.5 / ton, closing at US $1795 / ton, down US $3 / ton, down 0.17%. It closed at the Xiao Yin line, with its center of gravity falling below the 5-day moving average, which continued to sink than yesterday. Today's long position is mainly reduced, the daily KDJ three-line polymerization downward to form a dead fork, the macro news of the day is light, and long confidence is insufficient to withdraw from the market after the loss of news stimulation. Lun Aluminum is unable to fall back, is expected to continue to maintain range volatility below $1800 / tonne in the evening, and continue to pay attention to changes in the dollar index and the release of related macro news in the evening.

The 1908 contract of Shanghai Aluminum main Company opened at 13840 yuan / ton in the morning, and rose slightly at the beginning of the day to explore a high intraday high of 13860 yuan / ton, but the resistance of the 60-day moving average above Shanghai was stronger. Shanghai aluminum was unable to turn back and fell all the way to the low point of 13780 yuan / ton, and then hovered slightly at 13790 yuan / ton line, returning to the low level in the afternoon and rising again, but hesitated again after rising to 13835 yuan / ton. Today, the Japanese market closed at 13830 yuan / ton, down 70 yuan / ton, and then hovered slightly at the 13790 yuan / ton line, but returned to 13835 yuan / ton and hesitated again. Today, the Japanese market closed at 13830 yuan / ton, down 70 yuan / ton. Fell 0.5% to close at the Xiao Yin line, the center of gravity sank from yesterday, the day K line fell below the 5 / 10 moving average, trading volume increased 28802 hands to 150000 hands, position volume decreased 3212 hands to 244000 hands, daily KDJ third line down. After the digestion of the early macro good news, aluminum prices began to return to fundamentals, give up most of the early gains, is expected to continue in the evening below the weak shock, pay attention to the G20 summit news on the market trading atmosphere guidance.

Aluminum trading shock fell back at the opening of the month. In the morning, the spot transaction price in the Wuxi market in Shanghai was between 1378 yuan and 13790 yuan / ton. With the announcement of the online price, the market evaluation was lower than the psychological price, and the actual spot price began to rise slightly, focusing on 13800 yuan / ton to 13810 yuan / ton. The spot price in Hangzhou was between 13830 and 13840 yuan / ton. Today, prices are lower, shippers' willingness to ship at low prices is converging, traders and middlemen are more willing to receive and replenish goods, market recipients are significantly increased, trading is more active, and prices are strong. Downstream due to weekend stock superimposed approved low prices, today's procurement is significantly higher than yesterday. Today, the overall transaction in East China is better. In the late afternoon aluminum rose slightly from the low, low when only a small number of transactions between traders, the price is concentrated in the vicinity of 13810 yuan / ton, about the month of flat water, after the price rise, the market is flat.

 

Lead: within a day, Lun lead opened at US $1940 per tonne. In the Asian session, Lun lead basically ran along the daily average. In the European session, the US Index continued to weaken. At one point, Lun lead hit US $1944.5 per tonne. However, the pressure on US $1940 per ton platform was stronger, and the pressure on Lun lead fell to US $1932 per tonne. As of 16 to 32, Lun lead temporarily closed at US $1933.5 per ton, down US $6.50 per ton, or 0.34 per cent. Lun lead temporarily closed the Xiao Yin line, running along the upstream channel, but there is a strong pressure on the 1940 US dollar / ton line, and at the weekly level, the 20-day moving average above the weekly level is more difficult to break through, and it is expected that at night, Lun lead may be under pressure at 1940 US dollars / ton platform weakness shock. Over the weekend, the G20 summit focused on the progress of the meeting between the two heads of state.

Within a day, the Shanghai lead 1908 contract was opened at 16055 yuan / ton, Shanghai lead was under pressure on the 5th EMA, and fluctuated below the daily average, and with the gradual increase in short positions, the Shanghai lead shock platform slowly moved down to around WanLiu, during which it was once as low as 15985 yuan / ton, and finally reported at 16020 yuan / ton, down 115 yuan / ton, down 0.71%, and the position increased by 2728 hands to 56460 hands. Shanghai lead closing Xiaoyin line, running along the downward channel, fell below the middle track of Brin Road, but the six integer gate is still supported. Considering that the trend of lead in Shanghai is weak after entering the European period, it is more difficult for Shanghai lead to hold the gate at night.

Shanghai Sands, Southern lead, 16060 and 16070 yuan / ton, 50 yuan / ton for the 1907 contract, 16040 yuan / ton for Jijin, Wanyang and copper crown lead in Jiangsu and Zhejiang, and 3050 yuan / ton for the 1907 contract. The futures market shock down, the holder quotation with the market, and the renewable refined lead discount slightly expanded (SMM1# electrolytic lead discount 175 yuan / ton or so), the downstream is not optimistic about the future market expectations, continue to wait and see, bulk market transactions are still not significantly improved.

Guangdong market Nanhua lead 16050 yuan / ton, SMM1# lead average price flat water to liter water 50 yuan / ton quotation; southern storage south 16060 yuan / ton, 1907 contract water 50 yuan / ton quotation; southern storage and Mongolia from 16050 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 15920 yuan / ton, the average price of SMM1# lead discount 80 yuan / ton quotation; Wanyang 15930 to 15950 yuan / ton, SMM1# lead price discount 50 to 70 yuan / ton quotation; refineries to maintain discount shipment, downstream today wait-and-see, the market transaction is general. Other areas such as: Hunan Shuikoushan 16000 yuan / ton, the average price of SMM1# lead flat water quotation (traders). Jiang copper 16000 yuan / ton, SMM1# lead average price flat water quotation; Yunnan small factory lead 15700 15750 yuan / ton, SMM1# lead average price 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 $2489.5 / tonne. At the beginning of the day, Shanghai Zinc extended its daily average to around US $2495 / tonne, followed by short positions to suppress zinc prices. London Zinc quickly fell to the 20-day moving average around US $2480 / ton. During the period, it tried to rise back, but the 20-day moving average was strongly suppressed. Lun Zinc fell again by US $2470.5 / ton, and found support nearby. After entering the European trading session, with the rapid decline of the US Index, Buoyed by a strong rally, Len Zinc rose to $2500 a tonne, a W-shaped decline over the day, closing at $2499 a tonne, up $12.50, or 0.5 per cent, as of 17-11. it was up $12.50, or 0.5 per cent, at $1.50 per tonne, up 0.5 per cent at $12.50 per tonne. During the day, Shanghai zinc pressure EMA operation, within the day LME zinc inventory recorded a decline of nearly 2, 000 tons, or give some support to Lun zinc, night Lun zinc or still around the Brin Road middle rail operation, follow-up attention to macro news guidance.

The main 1908 contract of Shanghai zinc was opened at 19925 yuan / ton at the beginning of the day. At the beginning of the day, the main contract of Shanghai zinc was opened at the beginning of the day. At the beginning of the day, the main contract of Shanghai zinc was opened at 19925 yuan / ton. At the beginning of the day, the main contract of Shanghai zinc was opened at 19925 yuan / ton. At the beginning of the day, the main contract of Shanghai zinc was opened at 19925 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19925 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19925 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19925 yuan / ton. Compared with the previous day, it fell 150 yuan per ton, or 0.80 percent, with trading volume down 27652 hands to 421000 hands and positions down 6358 hands to 259000 hands. Shanghai zinc recorded two negative days, attached to the shadow line to stab the 20-day EMA suppression, mainly due to the macro mood is more uncertain, bulls afraid to leave early, Shanghai, Guangdong and Tianjin stocks recorded a small decline in the day, however, the market still has expectations for follow-up inventory accumulation, zinc price action can still be considered, night or pressure 20-day EMA operation.

Shanghai 0 # zinc mainstream transaction 19950-20070 yuan / ton, Shuangyan, Chihong transactions in 19990-20100 yuan / ton, 0 # ordinary July discount 60-discount 40 yuan / ton; Shuangyan, Chi Hong newspaper discount 30 yuan / ton-flat water. 1 # the mainstream transaction was between 19870 and 19990 yuan per ton. At the end of the month, the last trading day, the market circulation is still abundant, the morning SMM net average price floating market transaction is still relatively active, the rising sticker discount 50-discount 40 yuan / ton, but the market transaction is relatively weak, the net average price floats 20 yuan / ton and the discount 60 yuan / ton receiving intention is higher, the difference between the two sides of the transaction volume is limited. In the second trading period, the market discount stabilized and the mood of receiving goods warmed slightly, but the transaction was still relatively flat at the end of the month, and the overall transaction remained stable yesterday.

The mainstream transaction of 0 # zinc in Guangdong was between 19920 and 20080 yuan per ton, and the rising water of Shanghai zinc 1908 contract was about 140 yuan per ton, and the Guangdong market was maintained near Pingshui compared with the Shanghai stock market. Refinery shipment is normal, the market supply of goods is abundant. Some of the holders quoted in the morning concentrated on the average price-20, other holders focused on the 08 contract rising water 160 180 yuan / ton, but the market transaction did not see a clear response; into the second trading period, the market quotation concentrated on the 08 contract rising water 140 160 yuan / ton, the market transaction is mainly low price transactions, to 08 contract rising water 140 yuan / ton transactions. Overall, the transaction situation in Guangdong today is basically the same as yesterday. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 19920 to 20080 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 20040 21110 yuan / ton, 0 # ordinary brand mainstream transaction in 20040 20230 yuan / ton, 1907 contract water 50 100 yuan / ton, Tianjin market than Shanghai stock market yesterday rose water 150 yuan / ton to rise water 100 yuan / ton. Refinery normal shipment, the market supply circulation is more abundant. The early quotation of the holder is around 90 yuan / ton for 07 contract, but the downstream is mainly inquiry and wait-and-see, superimposed and downward, most of the holders do not have a strong willingness to adjust the price, slightly cherish the sale. Some of the subsequent holders took the lead in adjusting the price to 50 to 100 yuan / ton, the market transaction situation has improved, the overall contribution of low-cost brand goods to the main transaction, the overall transaction situation is weaker than yesterday. 0 # Zijin, Hongye, laring, Chihong, West Mine, etc., were sold in 20040-20230 yuan / ton, and 1 # Zijin, Chihong, Hongye, etc., were sold in 19990-20180 yuan / ton.

 

Tin: after the opening of the electronic disk at US $18820 / ton today, trading was light between early and noon in Asian trading and remained close to the opening price. In the afternoon, Lunxi rose slightly to $18875 a tonne before falling back slightly. After the opening of European trading, the bottom continued to fall slightly to US $18810 / ton at the beginning of the day, and rose rapidly to US $18920 / ton before falling back slightly again. As of 17-30, the latest price of Rensi was US $18870 / ton, showing a small positive line, and the upper shadow line was under pressure on the 5th moving average. Support below Lunxi is expected to be near the previous low of $18600 a tonne. This evening, you can focus on the annual rate (%) of the May PCE Price Index in the United States, the monthly rate of the core PCE Price Index in the United States in May (%), the monthly rate of personal income in the United States in May (%), the monthly rate of personal expenditure in the United States in May (%), the final value of the University of Michigan Consumer confidence Index in June and the latest developments at the G20 Summit.

Shanghai tin main 1909 contract last night after the opening of 143890 yuan / ton, fell to 148600 yuan / ton at the beginning of the day, and then until the close of Shanghai tin overall around the daily average of 143650 yuan / ton shock finishing. After the opening of 143710 yuan / ton this morning, the market maintained a wide range of 143400 to 143700 yuan / ton at the beginning of trading. Short positions increased in the afternoon, Shanghai tin quickly fell to an intraday low of 143060 yuan / ton, and finally closed at 143110 yuan / ton, down 580yuan / ton, down 0.40 per cent. The trading volume was 11304, an increase of 66. The position was 43800 hands, an increase of 454hands. Today, due to the fall of tin Changyin in Shanghai, the physical part is located near the 5-10 EMA, and the support below Shanghai tin is expected to be located at the integer gate of 143000 yuan / ton.

Spot market, today's mainstream transaction price 142400 143800 yuan / ton, Shanghai has a small amount of 142000 yuan / ton near the low price sources and more popular, other sources of lower prices do not have a price advantage, in addition, today is the last trading day in June, downstream enterprises buy the overall weak. Set Yunxi liter water 200 yuan / ton-flat water, ordinary cloud character sticker 600 700 yuan / ton, small brand sticker 800 1000 yuan / ton.

 

Nickel: the nickel sub-plate opened at US $12720 per ton today. At the beginning of the day, the daily average of nickel under pressure fluctuated downward. In the afternoon, the nickel was sorted horizontally at $12660 a tonne, and continued to fall by $12585 a tonne in the afternoon. In the European session, affected by the downward impact of the US dollar, Lennie rebounded upward to break through the daily average, reporting at US $12710 / tonne as of 17 / 00. Lennie is supported by multiple moving averages below, watching at night to see if it can hold the previous high of $12500 a tonne. At night, we should pay attention to the initial annual rate of euro zone CPI in June; the monthly rate of personal spending in May, the monthly rate of core PCE price index in May, the annual rate; the final value of PMI in Chicago in June and the University of Michigan consumer confidence index in June.

Shanghai nickel 1908 opened today at 102220 yuan / ton, at the beginning of the day, with a daily average of 102000 yuan / ton first-line support, narrow range shock operation. Subsequently, Shanghai nickel fell below the daily average, down to 101300 yuan / ton line after the support slightly up. In the afternoon, Shanghai nickel fell back to 101200 yuan / ton line, during which it was supported by 101200 yuan / ton gate many times, and the center of gravity fluctuated slightly around 101400 yuan / ton line, closing at 101490 yuan / ton, up 400 yuan / ton, or 0.40 percent, compared with the settlement price of the previous trading day. Trading volume decreased by 47600 hands to 768000 hands, and position volume decreased by 13900 hands to 203000 hands. Throughout the day, the Shanghai nickel main contract closed at the Xiaoyin line, for the first time this week, but still run along the Boll line. Today, the position of the Shanghai Ni 1907 contract has been reduced by 17700 to 32700. The Shanghai Ni 1907 and 1908 contract has changed from the previous back structure to the contango structure, and the possibility of extruding the 1907 contract continues to decrease. In the evening, we pay attention to the resistance of the boll track to the Shanghai Ni 1908 contract.

SMM 1 # electrolytic nickel 101500 to 103000 yuan / ton. Russian nickel than Shanghai nickel 1908 discount 600-400 yuan / ton. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1000 yuan / ton. Compared with the Wuxi 1907 contract, the Russian nickel contract generally reported a discount of 200 yuan per ton, and Jinchuan nickel generally reported a water rise of about 1300 yuan to 1400 yuan per ton compared with the Wuxi 1907 contract. In early trading, the price fluctuated around 102100 yuan / ton, which rose sharply from yesterday's same trading session. It was more difficult for Russian nickel to continue shipping, but the discount 600-discount 102100 holders traded relatively well. Jinchuan nickel is basically 1000 yuan per ton of water transactions. The trader received a small amount of the goods. In the second trading session, prices rebounded to 101600 yuan / ton shock after a sharp decline, to a certain extent active market atmosphere, but the stimulus is limited, the lower reaches of the high continue to wait and see. Jinchuan nickel strong, although the transaction is weak, but electrolytic nickel supply is tight, supply and demand is weak. Although the ex-factory price of Jinchuan nickel is 101800 yuan / ton, but the normal deliverable Jinchuan nickel is basically out of stock, this price is aimed at electrodeposition nickel, the market is still mainly traded by traders, the mainstream transaction is 101100 to 102600 yuan / ton. In the afternoon, the disk weakened slightly, and the enterprise entered the settlement state in an all-round way, basically to wait and see, cautious procurement, the mainstream transaction at 100900 to 102500 yuan / ton.

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