Home / Metal News / Copper / [SMM Daily Review] Shanghai, tin and Shanghai nickel rose more than 2 per cent, Shanghai zinc fell more than 1 per cent, colored green manure red and thin crude oil rose more than 2 per cent
[SMM Daily Review] Shanghai, tin and Shanghai nickel rose more than 2 per cent, Shanghai zinc fell more than 1 per cent, colored green manure red and thin crude oil rose more than 2 per cent
Jul 8,2019 16:34CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7, March 8: by the end of the day, Shanghai Zinc closed down 1.08%, Shanghai lead closed down 0.59%, Shanghai Aluminum closed down 0.25%, Shanghai Copper closed down 0.13%, Shanghai Tin closed up 2.03%, and Shanghai Ni closed up 2.33%. On Friday, Canada's Lundin Mining announced that it had successfully acquired Brazil's Minera ç ã o Marac á Ind ú stria e C é rcio, which owns Chapada copper and gold mines. The mine is expected to produce 54500 tons of copper and 100000 ounces of gold this year. "Lundin's acquisition of Chapada copper and gold deposits in Brazil is expected to produce 54500 tons of copper in 2019

In the black system, coke closed down 1.1%, thread closed down 0.55%, hot coil closed down 0.15%, coking coal closed up 0.4%, iron ore closed up 1.89%. In iron ore, the domestic mine start-up rate surveyed by SMM continued to rise by 0.8% to 53.1% in June, and the domestic mine start-up rate has been rising for four consecutive months. The operating rate of state-owned mines increased by 0.6% compared with the previous month, and that of private mines increased by 0.9%. Import prices continued to hit record highs in June, with MMi 62 per cent iron ore ports trading at an average US $111.42 a tonne in June, up US $13.02, or more than 13 per cent, from the May average of US $98.4. The SMM domestic mining composite price index was about 796yuan / ton at the end of June, up 60 yuan / ton, or more than 8 per cent, from the end of May. "View detail

Crude oil closed up 2.41% last month; oil prices barely changed on Monday, with traders weighing geopolitical risks and the impact of Sino-US trade relations on the global economy, although better-than-expected US jobs data last week provided some support, according to Wenhua Finance.

 

Capital flow today

 

In terms of capital flows, the commodity market inflow of more than 1 billion funds, chemical sector collective absorption of 748 million, of which methanol and rubber are the most concerned by the capital. Black today's performance is average, the coal plate lost 471 million funds, but iron ore alone gold 689 million.

SMM analyst's brief comment on July 8

 

Lead: within a day, the Shanghai lead 1908 contract opened at 15985 yuan / ton. At the beginning of the day, Shanghai lead ran along the 16025 yuan / ton line. In the afternoon, the non-ferrous metals weakened as a whole, and the Shanghai lead also shook down to 15910 yuan / ton. Finally, it closed at 15960 yuan / ton, down 95 yuan / ton, down 0.59%, and the position increased by 1092 hands to 51842 hands. Shanghai lead received Xiaoyin line, initially formed a downward channel, and the 5-day moving average turned down, and suppressed the upward pace of Shanghai lead, it is expected that Shanghai lead at night may test the lower 15800 yuan / ton platform support.

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