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July 2 SMM basic Metals spot Trading Day Review
Jul 2,2019 18:13CST
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Source:SMM
July 2 SMM basic Metals spot Trading Day Review
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SMM, July 2 / PRNewswire-Asianet /-

Copper: Yapanlun copper opened at US $5940 / tonne today. Copper prices fluctuated within a narrow range around the daily average after the opening. In the morning, the center of gravity of the shock was stable at US $5950 / ton, with an amplitude of about US $20 / ton. By the time of European trading, copper prices had fallen somewhat due to the US dollar, and copper prices were up US $5964.5 / ton in the short term, but then, due to the recent digestion of macro sentiment in the G20, short positions took advantage of high positions. Copper prices all the way down, as of 16-30, Lun Copper was at US $5918 / ton, down 0.3 per cent, the US dollar index was at 96.784, and US crude oil was at US $59 per barrel. In the evening, Williams (John Williams), chairman of the New York Federal Reserve and permanent voting committee of the FOMC, spoke on the outlook for global economic and monetary policy. It is expected to guide the Fed's interest rate cut, which the market is looking forward to. At present, due to the macro positive mood digestion, colored general decline, the current Lun Copper down test Brin middle rail, KDJ index opening significantly expanded and MACD red energy column obvious contraction, or will turn green, the technical side is difficult to support the price. Wait for guidance from the dollar and crude oil at night to test whether Lun Copper can hold $5900 a tonne at night.

Today, Shanghai Copper main contract 1908 opened at 46550 yuan / ton in the morning. After the opening, the trend was stable, with the center of gravity around 46640 yuan / ton. Until close in the morning, the market rose slightly to 46690 yuan / ton. After the opening of afternoon trading, the market fell slightly to 46600 yuan / ton, followed by a slight rise to the highest level of 46750 yuan / ton in the day, followed by a high pullback, closing at 46610 yuan / ton, down 650 yuan / ton, down 1.38%. Today, Shanghai Copper's main contract reduced its position by 1300 to 219000, while trading volume increased by 34000 to 158000. At present, Shanghai Copper's position has moved back significantly, with Shanghai Copper 1909 contract increasing its position by 16000 to 197000 today. Shanghai Copper 1910 contract position increased by 5328 to 65000. The Shanghai Copper Index increased its position by 19000 hands to 609000 hands today, while trading volume increased by 88000 hands to 356000 hands. Today, the capital outflow of Shanghai copper in the non-ferrous plate reached 158 million. Today, the overall performance of Shanghai copper is a long reduction in positions, reflecting that the sentiment of easing Sino-US trade relations at the G20 summit has been gradually digested by the market, superimposed the recent eurozone economic data is not as expected, the global economic situation is still weaker, the macro lack of support for copper prices; today, Shanghai copper closed the physical big Yin column, below fell below the Brin middle track, KDJ indicators opened and expanded, MACD red column continued to shorten. In the evening, wait for the guidance of the outside market to test whether Shanghai Copper can stand at the 46600 yuan / ton gate.

Today, the spot price of electrolytic copper in Shanghai is quoted for 40 yuan / ton to 100yuan / ton, 46600 yuan / ton ~ 46630 yuan / ton and 46640 yuan / ton ~ 46680 yuan / ton respectively. The dollar rose strongly and domestic metals generally fell. Copper in Shanghai fell 700 yuan per ton to 46600 yuan per ton. The holder quotation is firm, the market inquiry is active, continues yesterday to raise the water 40 100 yuan / ton, the flat water copper concentrated transaction in the rising water 40 50 yuan / ton, the good copper firm price 80 100 yuan / ton, the downstream transaction has slightly improved, the wet copper is slightly higher than yesterday, the quotation in the discount 40 ~ discount 20 yuan / ton. The market supply is not loose, especially good copper is still tight, coupled with the lower part of the bargain, it is difficult to lower the price today, it is difficult to receive low price sources, the market inquiry atmosphere is active, there is a willingness to buy, the holder performance is more persistent, rising water may still have room to push again. In the afternoon, the market quotation is more firm, and there is no abundance in the hands of the holder, and the market maintains a positive atmosphere of inquiry. Therefore, in the afternoon, Pingshui copper is quoted for 50-60 yuan / ton of water, and good copper is quoted for 100-120 yuan / ton of water, with a transaction price in the range of 46650 yuan / ton to 46780 yuan / ton.

 

Aluminum: Lun Al opened at US $1794 per ton in the morning. In the Asian session, Lun Al maintained the trend of resistance to decline, based on the daily average, concussion up to 1798.5 US dollars / ton, piercing the above 5-day moving average, blocking the US $1800 / ton barrier. London Aluminum remained in a narrow range in the afternoon, trading at $1796.5 a tonne as of 15: 00. After entering the European session, Lun Aluminum was dragged down by other metals and fell sharply to make up for the decline, concussion fell below the 20 moving average low hit 1777 US dollars / ton. As of 17: 42, aluminum was at $1784.5 a tonne, an increase of 6586 to 674008. It is expected that the evening Lun Aluminum will still do range concussion around the 20 / 5 moving average, the overall performance of Shanghai Aluminum is still showing resistance to decline.

Shanghai Aluminum main contract 1908 opened in the morning at 13660 yuan / ton. After the opening of Shanghai aluminum continued the previous day weak, short a small increase in Shanghai aluminum shock operation low hit 13630 yuan / ton. Low profits led to short positions, Shanghai aluminum shock rose, closing at 13710 yuan / ton. Positions fell 6336 hands to 238816 hands, while Shanghai Aluminum Index positions fell 1452 hands to 697416 hands. In the third quarter, in addition to lead, non-ferrous downstream demand weakened, Shanghai aluminum because there is still a certain consumption support decline is relatively small, but Shanghai aluminum is still in a weak shock trend is still unchanged, still need to pay attention to market consumption for the expected further verification, in the social aluminum ingot inventory is still declining, it is difficult to decline smoothly. Shanghai aluminum shock is expected to explore the bottom support in the evening, the short-term target level of 13500 yuan.

Aluminum period of the month before noon to maintain the range concussion. The spot price in Shanghai is between 13630 and 13650 yuan / ton, and the price is between 20 yuan / ton and 13690 yuan / ton, which is 100 yuan lower than yesterday's price. Wuxi spot price is between 13640 and 13660 yuan / ton, and Hangzhou price is between 13670 and 13690 yuan / ton. Today's spot aluminum price fell more than 100% compared with yesterday, the holder's willingness to ship converges, cherish the price, low price middlemen to receive goods significantly increased, today's market performance, the actual transaction slightly stalemate. Downstream manufacturers are still purchasing on demand today, which is not sensitive to the sharp fall in prices, or suggests that downstream consumption is indeed showing signs of weakening. The overall transaction in East China today is slightly worse than that of yesterday. Afternoon aluminum floated, the opening market trading price of 13640 to 13660 yuan / ton, near the flat surface of the month, but the market performance is light, the actual transaction is less.

Lead: within a day, Lun lead opened at US $1916.5 / tonne. In the Asian period, Lun lead basically ran along the daily moving average. When it entered Europe, it was stimulated by the news that the United States proposed to increase tariffs on EU goods and add certain metals to the proposed tariff list. The outer plate of non-ferrous metals collectively fell, and Lun lead fell below the US $1900 / ton integer mark. At one point, it was as low as US $1891 / ton. As of 16 to 50, Lun lead temporarily collected US $1893 / ton. It fell $23.50 a tonne, or 1.23%. Bulls entered the market for two consecutive trading days, allowing Lun lead to close two mid-negative lines in a row, open the downward channel, and turn down the short-term moving average, which is expected to be difficult to recover from the US $1900 / ton barrier at night. or test the support of $1880 / ton on the middle track of Brindao below.

During the day, Shanghai lead 1908 contract opened at 16140 yuan / ton, at the beginning of the day, more short, Shanghai lead once hit 16260 yuan / ton, but 16250 yuan / ton platform pressure is stronger, Shanghai lead pressure fell, and around the daily moving average below 16160 yuan / ton first line shock, during the period recorded intraday low 16110 yuan / ton, finally reported in the intraday high 16170 yuan / ton, up 35 yuan / ton, up 0.22%, position increased 132 hands to 51474 hands. Shanghai lead closed in the negative line, short again in the high plus code entry, 5-day moving average turn down, coupled with the European period, the trend of lead in the outer disk is weak, it is expected that Shanghai lead will be difficult to reverse the trend at night, or continue to decline.

Shanghai market Sands, southern lead 16195 16215 yuan / ton, 1907 contract water 30 50 yuan / ton, Jiangsu and Zhejiang Jijin, Wanyang, copper crown lead 16165 to 16195 yuan / ton, 1907 contract water 0 to 30 yuan / ton, of which the white goods to 16145 16155 contract discount 10 to 20 yuan / ton. The futures market continued to be strong, the holder shipped actively, generally downgraded the rising water, but the downstream fear of high sentiment is stronger, more turned to wait-and-see, inquiry is significantly less than yesterday, bulk market transactions are bleak.

Guangdong market Nanhua lead 16200 yuan / ton, the average price of SMM1# lead flat water to liter water 50 yuan / ton quotation; southern storage south 16195 yuan / ton, 1907 contract water 30 yuan / ton; lead price continues to fluctuate, some storage enterprises mainly to rigid demand procurement, market transactions have not been improved. Henan Yuguang and other smelters to long single transaction-based; Wanyang, Jinli 16100 yuan / ton, the average price of SMM1# lead discount 50 yuan / ton quotation; refineries to maintain discount shipment, downstream wait-and-see, the market transaction is general. Other areas such as: Jiangtong 16180 yuan / ton, the average price of SMM1# lead 30 yuan / ton quoted; Yunnan small plant lead 1585015 900 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: Geneva Zinc opened at US $2464 / ton, and at the beginning of the day, the center of gravity of its operation dropped to US $2455 / ton, with a finishing range of no more than US $5 / tonne. Near the European trading session, Lun Zinc dipped and found support at the US $2450 / t frontline, rising back to US $2459.5 / tonne. However, the daily average pressure appeared, and Len Zinc fell rapidly to US $2434 / tonne, which coincided with a decline in LME zinc stocks., Len zinc stopped falling at $2440 a tonne line. At 17-18, zinc closed down $14.50, or 0.59 per cent, at $2447.5 a tonne. Geneva zinc recorded two consecutive negative, the overall jump off all the daily moving average, the macro mood turned pessimistic, the increase of long pressure left the field dragged down, LME zinc inventory decreased or given some support, but the upper multiple moving average adhesion suppression, Lun zinc back up kinetic energy is weak. At night or above the lower rail of Brin Road.

The main 1908 contract of Shanghai zinc opened at 19640 yuan / ton at the beginning of the day. At the beginning of the day, the main contract of Shanghai zinc opened high and low, and the short entry dragged down Shanghai zinc. The center of gravity fell to 19580 yuan / ton, and the pressure in Shanghai fell again in the afternoon. The downward probe was 19525 yuan / ton. After entering the European trading period, with the short position neatly leaving the market, Shanghai zinc rose to 19630 yuan / ton. The first line finishing operation, closed down to 19615 yuan / ton, down 2445 yuan / ton from the previous transaction, down 1.23%. Trading volume was reduced by 17064 hands to 370000 hands, and positions by 10634 hands to 238000 hands. During the day, the zinc in Shanghai closed negative, supported by the underline, and jumped off all the EMA as a whole. The final value of PMI announced by the major economies in the world within the day showed that the downside risk of the world economy intensified. Under the pessimistic macro mood, Shanghai zinc returned to its own basic operation, and the subsequent back-up kinetic energy still needs to be considered. Observe the support strength of the lower track of Brin Road at night.

Shanghai 0 # zinc mainstream transaction 19780-19840 yuan / ton, Shuangyan, Chihong transactions in 19820-19870 yuan / ton, 0 # ordinary July discount 10 yuan / ton-flat water; Shuangyan, Qihong reported rising water 20 to 40 yuan / ton. 1 # the mainstream transaction was between 19700 and 19740 yuan per ton. Zinc fall back, at the same time, the price difference between the month / the next month expanded, the willingness to receive goods in the market is obviously enhanced, but the holder shipment is slightly controlled, the early market quotation rose to the discount 10-flat water, or to SMM net average price flat water, low price goods quickly disappeared, flat water and net average price transaction performance are better, mainly concentrated among traders. In the second trading period, the market quotation remained stable and changed little, but the orders of enterprises in the off-season of consumption were weak, and at the same time, they were also more cautious about purchasing in the future. The overall transaction within the day was slightly higher than that of yesterday.

Guangdong 0 # zinc mainstream trading in 19740 19810 yuan / ton, Shanghai zinc 1908 contract rising water 190 200 yuan / ton, Guangdong stock market than Shanghai stock market yesterday Pingshui nearby to discount 40 yuan / ton. Refinery shipment is normal, the market supply of goods is abundant. Plate down, in the morning period of the holder's willingness to push up the price is strong, quoted in the 08 contract water 200 yuan / ton or so, the market trading atmosphere is OK, another part of the holder reported in the average price of-10 yuan / ton, there are also some transactions. Entering the second trading period, the market quotation focused on the 08 contract rising water 190 yuan / ton, the overall transaction is mainly trading long orders, downstream willingness to receive goods is weak. The overall trading atmosphere is warmer than yesterday. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 19740 19810 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 19860 21070 yuan / ton, 0 # ordinary brand mainstream transaction in 19860 19960 yuan / ton, 1907 contract water 50 110 yuan / ton, Tianjin market than Shanghai market rose water 90 yuan / ton yesterday to 80 yuan / ton. The refinery shipment is normal, the market supply circulation is more abundant. The market fell, the holder's willingness to raise prices in the morning was stronger, and the price was concentrated in the vicinity of the 07 contract rising water of 90 to 150 yuan / ton, but the downstream bearish mood was stronger and the willingness to receive the goods was not good. In the follow-up period, some of the holders lowered the rising water to 50 to 110 yuan / ton, and the market transaction was still not obviously boosted. The willingness to receive goods downstream was weakened again. The transaction was mainly based on the high-priced brand Zijin source, and the transaction volume of ordinary brand source was more limited. Today downstream bearish mood is thicker, superimposed consumption weakens again, Tianjin market transaction situation is not as good as yesterday. 0 # Zijin, Hongye, Bailing, Chihong, Xiyan, etc., were sold in 19860-19960 yuan / ton, and 1 # Zijin, Chihong, Hongye, etc., were sold in 19810-19910 yuan / ton.

Tin: 18980 US dollars / ton in early morning trading in Lunxi, which was suppressed by short positions at the beginning of the day, and dropped all the way in the Asian session. At one point, it briefly stopped around US $18750 in the afternoon. In the afternoon, it continued to increase the rate of decline. Until the European session, it fell briefly around US $18500. After the European session, the low has pointed to a decline of US $18350, with a daily decline of about US $650. the biggest drop was more than 3%. Short positions were completely suppressed, breaking down. A big stick points to a low of $18150 a tonne at the end of 2018. After a long time, Lunxi finally broke the deadlock, the technical indicators are completely empty, and pay attention to the operation of short forces at night.

Shanghai tin main 1909 contract yesterday night trading 142330 yuan / ton after the opening, the overall maintenance of weak shock finishing situation. After the opening of 142030 yuan / ton in early trading this morning, due to a large increase in short positions, Shanghai tin fell by the limit to 135310 yuan / ton, down 6990 yuan / ton, or 4.91 per cent. The trading volume was 56600, an increase of 38074. The position was 49316 hands, an increase of 3568 hands. Today, a large number of short tin positions in Shanghai, Changyin line fell below the horizontal operating platform since 2016, the plate limit, Shanghai tin temporarily difficult to stop falling, pay attention to the changes in short forces in the future.

Today, the main tin 1909 contract in Shanghai fell 6990 yuan / ton by the limit. Spot market, this morning the mainstream transaction price of 138500 yuan / ton-139600 yuan / ton. As a result of the sharp fall in the tin plate in Shanghai, the discount range of spot prices has been reduced and the rising range has been expanded, some traders have actively bought goods when the price has been discounted, and some downstream enterprises have also replenished goods at low prices. In the morning spot market buy Xing heating up, set Yunxi rising water 1100 yuan / ton, ordinary cloud character rising water 300 yuan 400 yuan / ton, small brand rising water 200 yuan / ton-flat water. This afternoon as a result of the Shanghai tin plate continued to plummet, Shanghai tin spot market most businesses suspended shipments, holding goods wait-and-see mood intensified, the actual transaction weak.

Nickel: the nickel sub-plate opened at $12310 / ton today. At the beginning of the day, the nickel shock fell to a narrow range after the first line of $12150 / ton, and in the afternoon, the center of gravity of nickel was arranged horizontally around the first line of $12170 / ton. In the afternoon, or as a result of the decline in the dollar, nickel fell slightly after it was revised up to its 60-day moving average, down $12060 a tonne, followed by a slight rebound in support of the 20-day moving average, at $12130 a tonne as of 17. 00. In the evening, we will focus on whether Lennie can be supported by the 20-day moving average below, holding the US $12000 / ton barrier. The night focused on the monthly and annual rates of commercial retail sales in the United States for the week ended June 29.

Shanghai nickel 1908 opened at 98760 yuan / ton today, during the day, the overall pressure daily average weak shock operation. At the beginning of the day, Shanghai nickel 08 pressure daily moving average all the way down, to 97200 yuan / ton a narrow range of shock. In the afternoon, Shanghai nickel 08 recovered slightly to 97800 yuan / ton under pressure, and then fluctuated slightly to close at 97510 yuan / ton, down 3520 yuan / ton, or 3.48%, from the previous day's settlement price, trading volume decreased by 139000 hands to 660000 hands, and position volume decreased by 22600 hands to 147000 hands. Non-ferrous today generally fell, the main Shanghai nickel contract closed in the middle of the day, has fallen below the average and Boll line in the middle of the track, there is no other support below, the Shanghai nickel index today outflow of 288 million yuan. Shanghai nickel is expected to continue to weaken in the evening, the center of gravity or around 97000 yuan / ton first-line shock operation.

SMM 1 # electrolytic nickel 97000 to 98900 yuan / ton. Russian nickel than Shanghai nickel 1908 discount 500-400 yuan / ton. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1400 to 1500 yuan / ton. Early trading hours, prices continue to fall sharply around 97200, spot transactions improved, downstream procurement of Russian nickel positive, Jinchuan nickel temporary wait-and-see, waiting for Jinchuan ex-factory price. The second trading session, prices continue to revolve around 97200 narrow range volatility, traders based on spot feedback, have raised water, Russian nickel water up 97200 yuan / ton, market transactions continue early trading positive sentiment. The ex-factory price of Jinchuan Company was quoted at 99200, and traders raised Jinchuan rising water to about 2000 yuan / ton, mainly due to the improvement of transaction, the supply of Jinchuan was tight, and the mainstream transaction was 96900-99300 yuan / ton. In the afternoon, nickel prices rebounded slightly, the enthusiasm of the market to buy goods is not as good as in the morning, centralized procurement in the morning, mainly to wait and see in the afternoon, active transactions all day, downstream replenishment, the mainstream transaction at 97000-99400 yuan / ton.

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