SMM7, March 2: most of the non-ferrous metals market fell this morning. By midday close, Shanghai zinc rose 0.43%, Shanghai aluminum fell slightly, Shanghai lead fell 0.68%, Shanghai copper fell 0.79%, Shanghai tin fell 3.88%, Shanghai nickel fell 0.77%; Shanghai nickel closed at 97540 yuan, up 0.03%. LME3 nickel closed down 0.74 per cent at $12110 the day before. Spot trading of electrolytic nickel is generally general, Russian nickel to Shanghai nickel 1907 discount 500yuan / ton. Basically, Shandong Xinhai production capacity released ahead of time, Indonesia Delong still has 3 33000KWA ore heaters will be put into production this year. LME nickel plate inventory is historically low, spot trading is flat, downstream cautious wait-and-see, slightly lower.
On the black side, iron ore rose 1.41%, threads fell 0.89%, coking coal fell 1.61%, hot rolls fell 0.56%, and coke rose slightly; a Senate committee investigating the fatal tailing dam break at a mining facility in Vale, Brazil, on Tuesday recommended that Congress pass a comprehensive ban on all tailing dams, which are already decommissioned within 10 years.
Russia and other 10 non-OPEC oil producers decided to join OPEC after extending the agreement on reducing crude oil production for nine months to the end of March 2020. Analysts believe the decision to extend the production reduction agreement is aimed at pushing up oil prices by changing the relationship between supply and demand at a time when global demand for crude oil is slowing.
Spot today:
Lead: today's domestic mainstream quotation for reduced lead is 14350 to 14500 yuan per ton. Shanghai lead continued to weaken, there is still strong support, waste battery prices have been limited, Jiangxi and other parts of the reduced lead procurement has stalled, lead refineries said that the reduction of lead procurement is not smooth, this week renewable lead discount generally shows signs of narrowing. Shanghai Sands and Southern lead 16075 yuan / ton, 50 yuan / ton for 1907 contract, 16055 yuan / ton for Jijin and copper crown lead / ton in Jiangsu and Zhejiang, 30 $50 / ton for 1907 contract, of which the discount of 10 yuan / ton for 16015 contract is quoted by white goods. The futures market fell one after another, the quotation of the holder went with the market, some of the quotation rose slightly, at the same time, the downstream purchase was on the low side, the enthusiasm of inquiry was slightly better than yesterday, and the transaction of bulk order market was slightly improved. Guangdong market Nanhua lead 16075 yuan / ton, the average price of SMM1# lead flat water to liter water 50 yuan / ton; Southern Storage 16075 to 16085 yuan / ton, 1907 contract water 50 to 60 yuan / ton; lead price returned to the vicinity of WanLiu, some storage enterprises to rigid demand procurement, market transactions slightly improved. Henan Yuguang and other smelters mainly to long single transaction; Wanyang, Jinli 15075 yuan / ton, the average price of SMM1# lead discount 50 yuan / ton quotation; refineries maintain discount shipment, downstream purchase on demand, the market transaction is general. Other areas such as: Jiangtong 16045 yuan / ton, the average price of SMM1# lead 20 yuan / ton quote; Yunnan small plant lead 15725 to 15775 yuan / ton, SMM1# lead price discount 250 to 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: Tianjin market 0 # zinc ingot mainstream transaction in 19920 to 21100 yuan / ton, 0 # ordinary brand mainstream transaction in 19920 to 20080 yuan / ton, 1907 contract water 0 to 100 yuan / ton, Tianjin stock market than Shanghai stock market yesterday rose water 80 yuan / ton to rise water 40 yuan / ton. The refinery shipment is normal, the market supply circulation is more abundant. The carrier actively shipped the goods, and the early quotation focused on the 07 contract flat water to rising water 160 yuan / ton, but the willingness to pick up the goods downstream became weak, and the market trading atmosphere was cold. Follow-up holders cut water to 07 contract flat water to rising water 100 yuan / ton, after the price adjustment, the market transaction has not been significantly boosted. Today's market transactions are more concentrated in the supply of low-priced brands, the overall transaction situation is lighter than yesterday. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold in 19920-20080 yuan / ton, and 1 # Zijin, Chihong, Hongye, etc., were sold in 19870-20030 yuan / ton. Guangdong 0 # zinc mainstream trading in 19820 19940 yuan / ton, Shanghai zinc 1908 contract rising water 170 180 yuan / ton, Guangdong stock market than Shanghai market discount 40 yuan / ton yesterday narrowed to 30 yuan / ton discount. Refinery shipment is normal, the market supply of goods is abundant. In the morning, the market was more confused about the quotation, and the holder concentrated on the average price of-10 yuan / ton, and the atmosphere of market trading was relatively dull. After entering the second trading period, the market quotation focused on the rising water of about 170 yuan / ton for the 08 contract. However, after a small drop in the surface of the market, the rising water was adjusted upward, and the willingness to pick up the goods downstream was not good. The trading situation in Guangdong today is weaker than that of yesterday. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 19820 to 19940 yuan / ton.
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