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July 4 SMM basic Metals spot Trading Day Review
Jul 4,2019 18:35CST
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Source:SMM
July 4 SMM basic Metals spot Trading Day Review
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SMM, July 4 / PRNewswire-Asianet /-

Copper: Yapan Lun copper opened at US $5938 / tonne today. After the opening copper price fluctuated within a narrow range around the daily average, the overall center of gravity began to fall back slowly, with the center of gravity basically holding steady at US $5915 per ton before European trading. Then entered the European trade, bulls actively closed their positions, copper prices all the way down to US $5900.5 / ton position, clinging to the lower integer level, the low rose somewhat, as of 17 to 30, Lun Copper was at US $5928.5 / ton, down 0.19%. The US dollar index was at 96.757 and US crude oil at US $57.18 per barrel. In the evening, the European Central Bank released the minutes of its June monetary policy meeting. At present, Luntong is supported by Brin middle rail, KDJ opening downward trend has eased, Luntong short line is expected to rise, but above is still subject to multiple recent EMA pressure, uplink space is limited. Wait for guidance from the dollar and crude oil at night to test whether the copper can hit $5940 a tonne at night.

Today, the main contract of Shanghai Copper 1908 opened at 46500 yuan / ton in the morning. After the opening, the center of gravity dropped slightly to 46470 yuan / ton, and then the disk surface rose to the highest level of 46550 yuan / ton in the day. However, the market confidence was insufficient, and the high level was difficult to stand. Subsequently, the market surface fell all the way down to 46430 yuan / ton. After the opening of afternoon trading, the center of gravity of the plate was maintained around 46440 yuan / ton for a short time. After the center of gravity was maintained around 46440 yuan / ton, the shock continued to decline to the lowest position of 46330 yuan / ton in the day. The end of the plate closed at 46350 yuan per ton. It rose 20 yuan per ton, or 0. 04 percent. Today, the position of the main contract of Shanghai Copper decreased by 8308 hands to 209000 hands, and the trading volume decreased by 23000 hands to 95000 hands. Shanghai Copper 1909 currently has a position of 208000 hands, which is only 1536 hands short of the main contract, and the main contract is about to face a month change. The Shanghai Copper Index fell 12000 hands to 608000 hands today, while trading volume fell 65000 hands to 224000 hands. Today, the capital outflow of Shanghai copper in the non-ferrous plate reached 165 million. Recently, the economic data released by countries around the world at the macro level are relatively light, and the macro mood is pessimistic. Today, oil prices also show a downward trend, as the market's concern about the economic slowdown exceeds the support of the OPEC production reduction agreement on oil prices. Under the general environment of weak demand, the downward pressure on copper prices increases; from a fundamental point of view, the consumption downstream of copper continues to be light, the pressure on the supply side increases, and the fundamentals still do not have good news for copper prices. Today, the overall performance of Shanghai copper continued to decline, a small negative, the upper shadow line pressure Brin middle rail, the loss of all EMA support, KDJ indicators continue to expand, the technical side is difficult to support copper prices. In the evening, waiting for the guidance of the outside market, Shanghai Copper can hold the 46300 yuan / ton gate.

Today, the spot price of electrolytic copper in Shanghai is 70 yuan / ton to 150yuan / ton, the transaction price of flat water copper is 46490 yuan / ton ~ 46550 yuan / ton, and the transaction price of copper is 46540 yuan / ton ~ 46630 yuan / ton. Shanghai copper low return hindered 46500 yuan / ton line, the holder continued yesterday's high price situation, the morning market quotation rose 90 yuan / ton, the disk floated red, the rising water was further raised than yesterday, obviously suppressed the buy Xing, the level water copper initiative dropped to the rising water 80 yuan / ton or so, but the good copper proportion is still less, the high price intention is still strong, continues to push the price in the rising water 140yuan / ton or so, difficult to have the pressure price space, the wet copper goods less price is quite strong, but the good copper proportion is still less, the high price intention is still strong, continues to push up the price in the rising water 140yuan / ton, difficult to have the pressure price space, the wet copper goods price is few, Lift it up to 10 yuan per ton of water. Following the market yesterday, copper prices rose slightly, rising water is high and difficult to fall, downstream and traders return to the wait-and-see situation under their abundant inventory, and today they are stuck in a stalemate pattern, hardly showing the activity of yesterday. With the gradual entry of newly imported copper into the warehouse, the follow-up supply may be gradually relaxed, spot water lift will have difficulties and pressure. In the afternoon, as the market continued to react lightly, the holding mood weakened slightly, and there was room for price reduction in the market. In the afternoon, copper water 60-70 yuan / ton, good copper water 130-140 yuan / ton, transaction price in the range of 46380 yuan / ton-46540 yuan / ton.

 

 

Aluminum: Lun Al opened at US $1788 per ton in the morning. In the Asian session, Lun Aluminum continued its strength the night before, breaking through the 5-40-10 moving average one after another. London aluminum concussion fell back in the afternoon, as of 15: 00 Lun aluminum was at $1787.5 / ton, back below the 5-day moving average. After entering the European session, Lun Aluminum strengthened again, hitting a high of $1802.5 / ton and falling back above $1800, hitting the 5-day moving average at $1795 / ton as of 17: 51. There are no important data and events in the evening macro, it is expected that Lun Al will continue to maintain interval volatility, it is difficult to get rid of the EMA entanglement.

Shanghai Aluminum main contract 1908 morning 13735 yuan / ton. After the opening of the market, the long actively increased the position, and the Shanghai aluminum shock operation low touched 13720 yuan / ton and quickly broke through the 5-day moving average, which led to the short position reduction driving the Shanghai aluminum to continue to shock higher, and always stood above the 5-day moving average. At the end of the day, the high level of Shanghai aluminum reached 13780 yuan / ton, closing at 13775 yuan / ton. The position of the main contract decreased by 2616 to 230384, while the position of Shanghai Aluminum Index increased by 7592 to 688438. Today, social aluminum ingot stocks fell by 23000 tons, a significant increase from Monday's drop of 10, 000 tons, and consumption is still supported by short profits and long bargain buying, which has repaired some of the week's decline in aluminum prices. Taking into account the current cost of alumina, anode prices fell slightly, July-August aluminum consumption for the traditional off-season, Shanghai aluminum can still be high and empty.

Spot market, aluminum futures before noon to maintain range volatility. The transaction price between Wuxi and Shanghai was between 13740 and 13760 yuan / ton, up 10 to 20 yuan / ton for the current month, about 90 yuan / ton from yesterday, and between 13790 and 13800 yuan / ton in Hangzhou. The trading price in Shanghai and Wuxi was between 13740 and 13760 yuan / ton, up 10 to 20 yuan / ton, about 90 yuan / ton from yesterday, and between 13790 and 13800 yuan / ton in Hangzhou. Today, aluminum prices rose sharply, with some of the holders holding low prices yesterday to start with the supply of goods. Today, they are actively shipping, middlemen and traders are actively reloading goods, and there is also a purchase volume of nearly 8,000 tons in a large market. Downstream fear of high, today's performance on the sidelines, the overall willingness to purchase is not high, the receipt of goods is flat. The transaction in East China today is slightly better than that of yesterday. Afternoon aluminum narrow range fluctuations, the actual market price of 13760 yuan / ton, about 10 yuan / ton, but the afternoon market is light, the actual transaction is less.

 

Lead: within a day, Lun lead opened at US $1884 / tonne. In the Asian session, at the beginning of the day, Lun lead basically ran along the daily average. In the afternoon, some short sellers chose to stop profits and leave the market. Lun lead concussion rose to US $1890 / tonne. As of 16 to 26, Lun lead temporarily closed at US $1890.5 / ton, up US $11 / ton, or 0.59 per cent. Lun lead closed Xiaoyang line, stop falling back up, 60-day EMA support is effective, but the 5-day EMA downward trend does not change, Lun lead upward space or limited, it is expected to be supported by the 60-day EMA at night, and test the pressure of the 20-day EMA.

Within a day, the Shanghai lead 1908 contract opened at 16045 yuan / ton. At the beginning of the day, Shanghai lead basically ran along the 16025 yuan / ton line. In the afternoon, the Shanghai lead concussion platform moved to around 16130 yuan / ton, recording an intraday high of 16170 yuan / ton during the period, and finally closed at 16150 yuan / ton, up 75 yuan / ton, an increase of 0.47%, and the position was reduced by 982 hands to 49714 hands. Shanghai lead closing Zhongyang line, there is strong support at the Wanliu pass, the medium-and short-term EMA is upward, and the low level of lead in the outer plate will rise, or will give Shanghai lead a certain power, but the upper 60-day EMA still has a lasting suppression effect. Shanghai lead is expected to operate at night or under pressure in the 60-day EMA.

Shanghai market southern lead 16040 to 16050 yuan / ton, 1907 contract water 40 to 50 yuan / ton; Sands 16050 to 16080 yuan / ton, 1907 contract to water 50 to 80 yuan / ton; Jiangsu and Zhejiang area Jijin, Wanyang, copper crown lead 16030 to 16050 yuan / ton, 1907 contract water 30 to 50 yuan / ton quotation, of which the white goods to the 1907 contract discount 10 yuan / ton. The futures market is weak and volatile, and some of the holders have slightly increased their quotations due to a slight drop in inventory pressure, but because the consumption of the downstream battery market has not improved for the time being, storage enterprises only purchase with rigid demand, and most of them continue to actively quote and dump their goods. A small number of discount quotations still exist, and the overall market trading volume is still relatively limited.

Guangdong market Nanhua lead 16050 yuan / ton, the average price of SMM1# lead flat water to liter water 50 yuan / ton quotation; southern gold sand 16125 yuan / ton, 1907 contract water 100 yuan / ton; 16075 to 16085 yuan / ton, 1907 contract water 50 to 60 yuan / ton; lead price returned to the vicinity of 10,000, some storage enterprises to rigid demand procurement, market transactions slightly improved. Henan Yuguang and other smelters mainly to long single transaction; Wanyang, Jinli 15950 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: Jiang Copper 16020 yuan / ton, the average price of SMM1# lead 20 yuan / ton quotation; Yunnan small plant lead 15700 to 15750 yuan / ton, SMM1# lead average 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: Geneva zinc opened at US $2453 / tonne. At the beginning of the day, the daily moving average of LME zinc rose slightly and then fell back to US $2445 / tonne. Near the European trading session, Len zinc storage capacity rose to US $2455 / ton, during the period, it reached US $2459 / ton, followed by 5 days of EMA suppression, and Len Zinc rapidly fell to US $2434.5 / tonne, which coincided with a slight decline in zinc stocks at the beginning of the day, giving Lun Zinc some momentum to stop and repair. As of 16 to 20, zinc was down $8, or 0.33 per cent, at $2440 a tonne. Geneva zinc recorded two negative, overall jump off the moving average, LME zinc stocks continue to decline, or give Len zinc some momentum to stop the decline, but in recent days the world's major economies macro data performance is cold, Lun zinc action has yet to be considered, night or still running above the lower track of Brin Road.

Today, Shanghai Zinc completed the main month change, the Shanghai Zinc 1908 contract opened at 19680 yuan / ton, and at the beginning of the day, the Shanghai market ran in a concussion range of no more than 20 yuan / ton, and then empty into Duoping. Shanghai zinc operation center of gravity moved down to 19630 yuan / ton to find support. In the afternoon, Shanghai zinc went up again to 19670 yuan / ton. After the end of the plate reached 19735 yuan / ton, the pressure fell back, closing at 19665 yuan / ton, 10 yuan / ton higher than the previous transaction, and the strength of Shanghai zinc rose again in the afternoon to 19670 yuan / ton. after the end of the plate, the pressure dropped, closing at 19665 yuan / ton, up 10 yuan / ton from the previous transaction. It rose 0.05%, with trading volume down 12000 to 192000 and positions down 8284 to 219000.

Shanghai zinc main 1909 contract opened at 19525 yuan / ton, Shanghai zinc around 19520 yuan / ton narrow range finishing operation, then short into the market, Shanghai zinc operation center of gravity fell to 19480 yuan / ton, near the European trading period, short significantly reduced position lift Shanghai zinc upward touch high 19590 yuan / ton, then 5 days moving average suppression strength appeared, Shanghai zinc slightly down to the daily average near, close to 19515 yuan / ton, down 5 yuan / ton from the previous transaction, It fell 0.03%, with trading volume up 3790 to 154000 and positions down 1032 to 224000. Within a day, Shanghai zinc received a small negative line, attached to the shadow line 5, 10 days EMA double adhesion suppression, MACD index showed gentle, indicating that Shanghai zinc or no strong back rising kinetic energy. Superimposed supply-side production recovery, the market for the subsequent inventory accumulation is still expected, the fundamentals do not have a strong support, pay attention to the 10-day EMA suppression efforts at night.

Shanghai 0 # zinc mainstream transactions 19860 to 19900 yuan / ton, Shuangyan and Chihong transactions in 19880 to 19930 yuan / ton, 0 # ordinary pair of July water-liter water 10 yuan / ton; Shuangyan and Chihong reported rising water 20 to 40 yuan / ton. 1 # the mainstream transaction was between 19760 and 19800 yuan per ton. Zinc plate stable operation, market supply and demand tends to balance, early market leader single transaction dominated the market, the quotation remained stable yesterday focused on the rising water 10 yuan / ton, or based on the net average price as the benchmark, the handover parties save 10 yuan / ton differences, early market transactions focused on flat water or net average price. The second trading period, the quotation is stable, the market is mainly shipping, the willingness to receive goods is not strong, consumption off-season downstream lack of active procurement willingness, the overall market trading atmosphere is weak, the transaction is not much different from yesterday.

Guangdong 0 # zinc mainstream trading in 1980-19870 yuan / ton, Shanghai zinc 1908 contract rising water 180-190 yuan / ton, Guangdong market than Shanghai market discount 30 yuan / ton yesterday expanded to 50 yuan / ton discount. Refinery shipment is normal, the market supply of goods is abundant. The early quotation of the holder focused on the rising water of 180 yuan / ton for 08 contract, and the market transaction was mostly concentrated around 180 yuan / ton for 08 contract. The overall transaction atmosphere was relatively flat, and the transaction situation turned worse again than yesterday. The main reason was that the downstream orders became weaker, and some of the follow-up consumption was overdrawn when the price fell in the early stage. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 19800-19870 yuan / ton.

Tianjin market 0 # zinc ingot mainstream transaction in 19860 20970 yuan / ton, 0 # ordinary brand mainstream transaction in 19860 19960 yuan / ton, 1907 contract water 0 80 yuan / ton, Tianjin market than Shanghai stock market rose 40 yuan / ton yesterday to 30 yuan / ton. Refineries are shipped by normal households, and there is an abundant supply of goods in the market. The early quotation of the holder focused on the 07 contract rising water near 100 yuan / ton, but due to the recent market transactions are relatively cold, superimposed Zijin source circulation more, some holders took the lead in lowering Zijin price to 07 contract rising water 50 to 80 yuan / ton, in order to stimulate market transactions, follow-up transactions slightly improved, the overall trading atmosphere is relatively light, the transaction situation is basically the same 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: the Lunxi electronic disk opened at US $18035 / ton today, and remained consolidated after it rose to US $18390 / ton in the sub-session, and fell back at the end of the sub-day. After the opening of the European trading, the market continued to fall slightly to $18166 / ton before bottoming up, as of 17-45, the latest price of $18390 / ton, a long positive line, the upper part of the physical part of the pressure on the 5-day moving average. The resistance above Lunxi is expected to be near the 5-day moving average and the middle rail of the Changyin line of $18400 / ton, and the next resistance is around the 10-day moving average of $18700 / ton if it breaks through. Affected by the US Independence Day holiday today, the news is light. We can pay attention to the changes in non-farm payrolls after the June quarter adjustment in the United States tomorrow (10,000).

Shanghai tin main 1909 contract yesterday night trading 134980 yuan / ton, the beginning of the day quickly hit a high of 135330 yuan / ton, and then until the closing of night trading, Shanghai tin overall maintained at the daily average of 134000 yuan / ton shock finishing. After the opening of 134130 yuan / ton in early trading today, it maintained the consolidation trend of night trading, and finally closed at 133580 yuan / ton, up 1080 yuan / ton, or 0.82 per cent. The trading volume was 68016 hands and the position volume was 43704 hands, a decrease of 808 tons. Some short positions left the market today, Shanghai tin rose to close with a positive line, the upper shadow line is longer, located below all EMA, Shanghai tin support is expected to be located at the integer gate around 132000 yuan / ton.

Spot market, today's mainstream transaction price is 134500135500 yuan / ton, downstream enterprises are willing to purchase from traders, although some smelter quotations are slightly reduced, but the overall transaction is weak because there is no price advantage, the overall trading atmosphere of the spot market is general today. Set Yunxi rising water 1600 yuan / ton, ordinary cloud word rising water 1100 to 1200 yuan / ton, small brand rising water 800 to 900 yuan / ton.

 

 

Nickel: the nickel sub-plate opened at $12355 / tonne. At the beginning of the day, the center of gravity of the nickel fluctuated around the daily average in a narrow range. Then, the nickel shock went down, down $12255 / ton. After a brief horizontal finishing, it rose to near the daily average. The pressure fell back to $12250 / ton line again. After entering the European session, the nickel rallied, breaking the daily average, touching $12410 / ton, as of 17 / 00, reported at $12390 / ton. LME stocks continued to decline by 906 tons to 157386 tons. Nickel was temporarily closed at the small positive line, hitting the 5-10-day moving average, and the center of gravity is expected to revolve around a concussion of $12400 a tonne in the evening.

Shanghai Ni 1908 opened at 97870 yuan / ton today. At the beginning of the day, the center of gravity fluctuated over a narrow range of 98250 yuan / ton. Subsequently, Shanghai nickel shock down, fell to 97600 yuan / ton line rebound up, above the daily average of 98200 yuan / ton, shock operation, closed at 97820 yuan / ton, compared with the previous day's settlement price rose 590yuan / ton, an increase of 0.61%, position volume decreased 13800 hands to 126000 hands, trading volume increased 92200 hands to 600000 hands. Throughout the day, the main contract of Shanghai nickel closed at Yin Cross Star, and the middle track of Boll line was explored on the shadow line, but in the face of multiple moving average resistance, we focused on whether Shanghai nickel could stabilize the 98000 yuan / ton barrier in the evening. The data were light tonight.

SMM 1 # electrolytic nickel 97900 to 100900 yuan / ton. Russian nickel than Shanghai nickel 1908 discount 400-300 yuan / ton. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a rise of 2500 to 2700 yuan / ton, early trading hours, the price around 98200 yuan / ton volatility, due to the first half of the week trading improved, today's nickel price rose to curb downstream purchasing sentiment, early trading hours trading light. Due to the tight supply of nickel in Jinchuan, the quoted price of the holder is quite different, the rising water is 2500 yuan / ton, and some of the cargo holders are quoted as rising water 3000 yuan / ton, the price is not in the market. In the second trading period, prices fell, market activity improved slightly, Russian nickel continued to trade actively with the mainstream discount of 400 yuan / ton, Jinchuan Shengshui continued to raise, although Jinchuan company ex-factory price was 100000 yuan / ton, up 500yuan / ton from yesterday, but the supply of goods favored by the market is tight, the mainstream transaction is 97600100500 yuan / ton. Although nickel rebounded slightly in the afternoon, it was still below the EMA, and the transaction became weaker in the afternoon. The level of Russian nickel paste was stable, and Jinchuan nickel holders continued to report rising water of 2600 yuan to 2700 yuan per ton. The transaction is general all day, the mainstream transaction is 97600 to 100600 yuan / ton.

 

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