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[SMM afternoon Review]
Jul 1,2019 11:58CST
The content below was translated by Tencent automatically for reference.

SMM7 1 month news: the non-ferrous metals market rose and fell this morning, as of noon close, Shanghai zinc rose 0.25%, Shanghai aluminum fell 0.65%, Shanghai lead rose 0.72%, Shanghai copper rose 0.68%, Shanghai tin fell 0.72%, Shanghai nickel fell nearly 2%; among them, nickel was boosted by the previous stainless steel price and the disturbance on the supply side, the center of gravity of Shanghai nickel continued to move up to a one-month high last week. However, downstream stainless steel stocks remain high, and it is difficult to continue to go to the warehouse in the short term. Nickel stocks announced on Friday rose 18.6 per cent to 20464 tons from the previous week, and nickel prices continued to lack upward momentum.

In the black system, iron ore rose by nearly 3%, thread by 2%, coking coal by nearly 0.5%, hot coil by nearly 2%, coke by more than 2%; Tangshan production restriction should be the focus of the current market, and production restriction measures are gradually falling to the ground. Combined with the iron and steel production capacity, current construction situation, production limit ratio and production limit time in Tangshan area, it can be calculated that after the strict implementation of the policy, the iron and steel output of 100000 tons to 150000 tons per day will be reduced, which can not be ignored. In the context of supply compression, downstream demand performance is good.

U. S. rail crude oil shipments rose 55000 barrels a day to 619000 barrels a day in April from the previous month, according to data released Friday by the U.S. Energy Information Administration (EIA). Domestic crude oil shipments rose 52000 barrels a day to 424000 barrels a day in April from the previous month. Crude oil shipments from Canada to the United States increased by 4000 barrels per day to 195000 barrels per day compared with the previous month.

Spot today:

Aluminum: aluminum open high and low in the month. The spot transaction price in Shanghai is between 13730 and 13750 yuan / ton, between 10 yuan / ton and 10 yuan / ton, which is about 50 yuan / ton lower than last Friday. The spot price in Wuxi is between 13740 and 13760 yuan / ton, and the spot price in Hangzhou is between 13770 and 13790 yuan / ton. Today, the shipowner shipment is active, because the price falls, the middleman has certain replenishment under the low price, the overall transaction is better. However, downstream Monday did not show an obvious willingness to receive goods, basic on-demand procurement, traders are feedback downstream consumption signs of weakness, on the near future downstream consumption expectations are pessimistic. The overall transaction today was mediocre.

Lead: Guangdong market Nanhua lead 16125 yuan / ton, the average price of SMM1# lead flat water to liter water 50 yuan / ton quotation; southern storage south 16150 yuan / ton, 1907 contract water 50 yuan / ton quotation; macro environment improvement, lead price shock upward, some storage enterprises to rigid demand procurement, market transactions have not improved. Henan Yuguang and other smelters mainly to long single transaction; Jinli 15995 yuan / ton, the average price of SMM1# lead discount 80 yuan / ton quotation; Wanyang 16005 to 16025 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: Jiangtong 16105 yuan / ton, the average price of SMM1# lead 30 yuan / ton quoted; Yunnan small plant lead 15775 15825 yuan / ton, the average price of SMM1# lead discount 250 300 yuan / ton; refineries to long single transaction, bulk order shipping enthusiasm is not high, but the terminal consumption is relatively low, the market transaction is still light.

Zinc: Shanghai 0 # mainstream zinc transaction 20040 20130 yuan / ton, Shuangyan, Chihong transactions in 20090 20150 yuan / ton, 0 # ordinary July discount 30-20 yuan / ton; Shuangyan, Qihong sticker 10-liter 10 yuan / ton. 1 # the mainstream transaction was between 19950 and 20040 yuan per ton. The Shanghai Zinc 1907 contract fell back in intraday trading, closing at 20075 yuan per ton in the morning market. At the beginning of the month, the capital pressure of traders eased, the intention of market price adjustment and shipment weakened obviously, and the market quotation was more cautious after zinc futures rebounding, with net average price as the benchmark quotation more, only a small amount of discount 30-20 yuan / ton, but the transaction was more limited, only a small number of long orders rose by 10 yuan to 15 yuan / ton, the overall market wait-and-see mood was stronger. Enter the second trading period, zinc further down to give up all the gains, the market mood to pick up goods, the transaction has improved, discount 30-discount 20 yuan / ton have been traded, but the trading between traders is more active, downstream participation is relatively cautious, the overall transaction is slightly less than last Friday.

Tin: spot market, this morning the mainstream transaction price 141700 143000 yuan / ton, there is a low price of 141500 yuan / ton small brand supply. Some downstream enterprises have replenishment due to the downward tin price, and the overall transaction in the spot market is general. Set Yunxi liter water 300 yuan / ton, ordinary cloud word sticker 500 yuan / ton, small brand sticker 600 yuan 800 yuan / ton.

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