SMM7, March 15: as of press time, Shanghai nickel rose more than 2.8%, Shanghai tin fell 0.74%, Shanghai zinc rose 0.79%, Shanghai lead fell slightly, Shanghai aluminum rose 0.58%, Shanghai copper rose 0.5%, Shanghai nickel rose more than 2.8%, Shanghai tin fell 0.74%, Shanghai zinc rose 0.79%, Shanghai lead fell slightly, Shanghai aluminum rose 0.58%, Shanghai copper rose 0.5%. Black majority rose, iron ore rose 2.23%, thread fell 0.43%, hot coil rose slightly, coking coal rose 0.64%, coke rose 2.59%.
Copper futures in London rose on Monday, while Shanghai nickel hit a more than four-month high, following the London market's overnight rally amid fears that Indonesia, the largest nickel producer, would reimpose a ban on ore exports in 2022. Indonesia has large reserves of laterite nickel ore that can be used to produce nickel pig iron used in the stainless steel industry. Indonesia relaxed its ban on nickel ore exports in 2017, but said at the time that it would restrict exports of raw ore again in 2022. Many are sceptical about the return of the blanket ban, but a media report that the ban will be imposed in 2022 has sparked unease in the market, pushing the London Metal Exchange's (LME) three-month nickel issue to a nearly four-month high on Friday. LME copper for three-month delivery rose 0.71 per cent to $5977 a tonne. The main copper futures 1909 contract on the Shanghai Futures Exchange rose 0.43 per cent to 46860 yuan a tonne. LME three-month nickel rose 0.48 per cent to $13535 a tonne. The Shanghai nickel main 1908 contract rose 2.62 per cent to 106160 yuan a tonne. At one point, the contract rose 3.1 per cent to $106620 a tonne, the highest level since March 7 in the main contract.
On July 15, the National Bureau of Statistics released the situation of energy production in June 2019, saying that crude oil production grew steadily in that month, and imports continued to expand. In June, imports of crude oil were 39.58 million tons, an increase of 15.2 percent over the same period last year; in the first half of the year, imports of crude oil were 245 million tons, an increase of 8.8 percent over the same period last year, 0.6 percentage points faster than in the first quarter.
Copper: the market is waiting for the Fed to further cut interest rates, while crude oil remains stable near Gate 60, supporting copper prices. Today, focus on the upcoming release of domestic industry and social consumption data, will guide the market. Spot today focused on delivery, the current market is mainly for the current month's contract quotations, the overall market trading sentiment is more stalemate, today despite the impact of delivery, but the rising water expectations remain high. It is estimated that London copper 5930 to 5980 US dollars / ton, Shanghai copper 46400 to 46800 yuan / ton, spot water 50-130 yuan / ton.
Aluminum: the operating range of the main contract today is expected to be 13700 to 13850 yuan per tonne. Due to the inverted situation between the contract and the main company in that month, the spot is expected to rise by more than 50 yuan per ton today compared with last Friday. Nailun aluminum is expected to operate between $1800 and $1850 per ton.
Lead: the progress of trade between China and the United States is still in a stalemate. At the same time, we need to pay attention to the economic data to be released in the first half of this year. The trend of non-ferrous basic metals is different, in which lead is weak due to rising inventory pressure, and the maintenance of primary lead and recycled lead is over this week. Downstream consumption support is limited. Spot lead is expected to fall 50% to 15950-16050 yuan / ton today.
Zinc: last Friday, Lunzin zinc ran as a whole in the middle and lower rail channels of Brin Road, and the KDJ index turned upward, indicating that the movement on LME zinc was sufficient. Under the continuous decline of LME zinc inventory, the contango structure changed to a small back structure. Geneva zinc may run around $2400 to $2450 / ton. Shanghai zinc stopped falling and turned red to break through the 10-day EMA suppression, KDJ indicators show that the turn upward, short positions in Shanghai zinc up on Friday, Shanghai zinc action is still to be considered, Shanghai zinc is expected to run in 19000 to 19000 yuan / ton within a day. Material 0 # domestic double swallow zinc increased by 50% to 90% in July
Tin: it is expected that the lower support of Lunxi is located near the integer gate of US $18000 / ton. It is estimated that the resistance above tin in Shanghai is 135000 yuan / ton, and the lower support is about 132500 yuan / ton. In the spot market, the focus of the main 1909 contract in Shanghai on Friday night was lower than that in the previous period, and the trading price is expected to be 135000 to 137500 yuan / ton today.
Nickel: Lun Ni closed in Zhongyang line for 8 consecutive days, hitting a 4-month high, with no other resistance above, paying attention to the high pressure of US $13800 / ton above the platform. Shanghai Ni runs above the Boll line today, with multiple EMA support below and no other resistance at the top, which is close to the previous high of 105800 yuan / ton. Today, we are concerned about whether Shanghai Ni can break through the 105800 yuan / ton line, which is the highest point so far this year, and there is no other resistance at the top, which is close to the previous high of 105800 yuan / ton, and today pays close attention to whether Shanghai nickel can break through the 105800 yuan / ton line, which is the highest point this year. Spot 102500 to 105000 yuan / ton.
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