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July 16 SMM basic Metals spot Trading Day Review
Jul 16,2019 18:11CST
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Source:SMM
July 16 SMM basic Metals spot Trading Day Review
The content below was translated by Tencent automatically for reference.

Copper: today, Yapan Lun Copper opened at US $5997 / ton. In the morning, the center of gravity of copper prices slightly moved down to about US $5987 / ton, with an overall amplitude of less than US $10 / ton, until it was about to enter the European market. Copper prices began to pull up, short active low positions, copper prices took the opportunity to break through the 6000 mark, reached a high of US $6023 / ton, but then, due to the release of the euro zone July ZEW economic sentiment index performance is not satisfactory, the euro plummeted. The dollar rebounded to a high above 97 points for copper, rising 0.54% to $6007.5 a tonne as of 17. 00, the dollar index at 97. 067 and crude oil at $59. 63 a barrel. The evening focus on US retail and industrial data is expected to be bad for the dollar and is expected to stimulate sentiment. At present, there are 3 Lianyang on the day K line of Luntong, the overall center of gravity is on the track to Brin, and the technical aspect is optimistic. At night, waiting for guidance from the dollar and crude oil, test whether the evening bronze can break through and stand above $6000 a tonne. Today, the main contract of Shanghai copper opened at 46920 yuan / ton in the morning, and the trend was stable after the opening. In the morning, the main contract remained in a narrow range around 46880 to 46950 yuan / ton, and the center of gravity moved up slightly in the afternoon. The highest level in the first day of trading was 47030 yuan / ton, which immediately fell, and the center of gravity remained around 46960 yuan / ton until the end of the day, closing at 46910 yuan / ton. the main contract for Shanghai copper opened at 46920 yuan / ton in the morning, and remained at 46880 yuan / ton in the morning. The center of gravity was maintained at 46910 yuan / ton at the end of the day. It rose 130 yuan per ton, or 0.28 percent. Today, the main contract position of Shanghai Copper decreased by 5196 hands to 245000 hands, mainly due to the fear of high departure of some of the short positions, the overall performance of the short position reduction. Trading volume fell by 32000 hands to 122000. The Shanghai Copper 1908 contract reduced its position by about 10, 000 to 163000 today. Trading volume fell by 13000 hands to 65000. Today, the Shanghai Copper Index fell 17000 hands to 576000 hands and trading volume fell 60, 000 hands to 214000 hands. Today, the overall performance of Shanghai copper is a high shock pattern, mainly due to the stabilization and recovery of domestic economic data in June, the market is optimistic about the domestic economic momentum, has a boost to copper prices, the current copper prices to maintain a volatile situation. Today, the center of gravity of copper in Shanghai rose, the high level reached 47100 yuan / ton, the KDJ index continued to expand, the MACD index red column lengthened, and the technology formed support in the face of copper prices. In the evening, wait for the guidance of the outside market to test whether Shanghai copper can stand at 47100 yuan / ton. Today, the spot price of electrolytic copper in Shanghai is 80 yuan / ton, the transaction price of copper is 46840 yuan / ton ~ 46880 yuan / ton, and the transaction price of copper is 46900 yuan / ton ~ 46940 yuan / ton. Shanghai copper maintained a high shock of 46800 yuan per ton. In the morning, the holder quoted 20 to 80 yuan / ton, the market inquiry atmosphere is active, the traders' willingness to receive goods is obvious, the flat water copper in the general transaction of 10 yuan / ton, the pressure price atmosphere is rich, part of the flat water copper can be traded actively in the Pingshui line, good copper concentrated in the rising water 60 to 80 yuan / ton, good copper is difficult to have the lower price space, the market low price source transaction is active; the good copper is concentrated in the rising water 60 80 yuan / ton, the good copper is difficult to have the lower price space, the market low price source transaction is active; The wet copper is basically maintained in the range of 40 yuan / ton and 10 yuan / ton, and the rigid demand is maintained downstream. Today's market transactions to traders to buy and sell the period as the main contributor, pay attention to the subsequent supply of goods to the warehouse will determine the trend of water supply. In the afternoon, as a result of the disk price to maintain a volatile pattern, the overall market trading sentiment stalemate, the quotation has not changed greatly, the low price supply is difficult to find, more difficult to have the pressure price space in the morning. In the afternoon, copper water reported 10-20 yuan / ton of water, good copper reported 70-80 yuan / ton of water, the transaction price is in the range of 46880 yuan / ton-46980 yuan / ton.

 

Aluminum: Lun Al opened at US $1842 per ton in the morning. In Asia, Lundai quickly rebounded after hitting its 5-day moving average below its opening low, with concussion rising past yesterday's high to $1848 a tonne as of 15: 00. In Europe, London Aluminum continued to reach a strong high of $1852 a tonne. After that, as the U.S. Index continued to rise, Lun Aluminum quickly fell back, and its low again hit the 5-day moving average below, hitting $1835 a tonne. As of 17: 38, it was at $1839 a tonne. Recently, the trend of Lun Aluminum is strong, and the center of gravity continues to move up along the 5-day moving average. At the same time, as the 5-day moving average continues to rise, the pressure above Lun Al increases. In addition, LME inventories continued to increase by 48750 tons to 994125 tons today, and the pressure above Lunal increased. It is expected that the operating range of Lunal will continue to narrow without sudden good news, and it is possible to return to the moving averages under the pressure sniper above.

Shanghai Aluminum main 1908 contract opened in the morning at 13865 yuan / ton, short after the opening of Shanghai aluminum hit the 5-day moving average, low hit 13825 yuan / ton, followed by the 5-day moving average concussion. Before noon, the bulls entered the market rapidly, reaching a high level of 13905 yuan per ton. In the afternoon short enter, aluminum prices fell back to 13900 yuan / ton below the shock operation, long and short at the end of the day to close at 13885 yuan / ton. Positions decreased by 11772 to 187136, 1909 contract positions increased by 5096 to 207170, and Shanghai Aluminum Index positions increased by 12484 to 674190. The short-term negative factor of Shanghai aluminum is mainly due to the downward cost caused by the downward price of alumina, and the increase of aluminum ingot inventory in consumption has not continued to increase. In addition to the strong trend of the external market, consumption improvement at the end of the third quarter can still be expected, Shanghai aluminum rebound slightly, still maintain range concussion.

Aluminum in the early opening of the month to interval shock-based, before noon quickly pulled up. In the early period, the transaction price between Shanghai and Wuxi was between 13830 and 13840 yuan / ton, between 10 yuan / ton and flat water in that month, up nearly 30 yuan / ton compared with yesterday, and the transaction price in Hangzhou was between 13850 and 13870 yuan / ton. In the morning, due to the holder holding part of the low-priced purchase source, active shipment, some middlemen replenish goods to receive more active, but because the market today receive few goods, so the overall transaction in East China is slightly lower than yesterday. With the rapid rise of aluminum futures, the market quotation rose, began to focus on 13850 to 13870 yuan / ton, pasted 20 to 10 yuan / ton, although there is an offer, but the market wait-and-see mood rose again, fear of high obvious, there are few transactions, at this time the transaction heat decreased rapidly. Downstream today to maintain the pace of on-demand procurement, flat delivery. Today, the overall transaction in East China is not as good as yesterday. Afternoon aluminum to maintain range fluctuations, the market transaction atmosphere attributed to calm, although the holder quoted around 13860 yuan / ton, the plate discount of about 20 yuan / ton, but the actual transaction is few.

 

Lead: within a day, Lun lead opened low at US $1977.5 / ton. In Asia, at the beginning of the day, Shanghai lead basically ran along the daily average, blocked by US $1980 / ton. At noon, the center of gravity was raised to US $19801985 / ton. During the European period, the overall strength of non-ferrous metals on the outer plate, the homeopathy of Lun lead climbed straight to US $1995 / ton, but there was pressure at the integer gate of US $2000 / ton above. The pressure on Shanghai lead fell slightly, as of 16 / 23, Lun lead temporarily closed at $1989.5 a tonne, up $9.50, or 0.48 per cent. Lun lead temporarily closed Xiaoyang line, stand on Brin rail 1980 yuan / ton platform, all averages are upward, and multi-head arrangement, but the strong trend of the US finger, to a certain extent or suppress the trend of external non-ferrous metals, night Lunlead to break through the $2000 / ton integer barrier will have repeated tests.

Within a day, Shanghai lead 1909 contract opened at 16160 yuan / ton, bulls entered one after another, Shanghai lead basically showed an upward market throughout the day, especially in the afternoon, Shanghai lead upward pace accelerated, and once reached 16290 yuan / ton, finally closed at 16275 yuan / ton, up 210 yuan / ton, an increase of 1.31%, and the position increased 4544 hands to 47732 hands. Shanghai lead closed the Dayang line, and finally broke through the suppression of the 60-day moving average, and ran near the upper rail of Brin Road, but the 16300 yuan / ton platform also has a pressure that can not be underestimated, paying attention to whether Shanghai lead can break through the platform at night.

Shanghai market Jinsha lead 16285 yuan / ton, 1908 contract liter water 50 yuan / ton quotation; Amuron 16235 yuan / ton, 1908 contract flat water quotation; Jiangsu and Zhejiang Jinli, Wanyang, copper crown lead 16215 to 16235 yuan / ton, 1908 contract discount 20 yuan / ton to Pingshui quotation. Futures strong upward, cargo holders shipping enthusiasm increased, some have been converted to discount quotations, and downstream battery market consumption is flat, storage enterprises afraid of high careful mining, upstream and downstream direct counterpart trading is weak; in addition, due to the expansion of the current base difference, traders receive goods more actively than yesterday.

Guangdong market Nanhua lead 16175 yuan / ton, the average price of SMM1# lead rose 50 yuan / ton; lead shock higher, terminal consumption is relatively low, market trading is dismal. Henan Yuguang and other smelters mainly to long single transaction; Wanyang 16125 yuan / ton, the average price of SMM1# lead flat water quotation; Jinli 16075 to 16095 yuan / ton, SMM1# lead discount 50 yuan / ton to 30 yuan / ton quotation; lead price shock higher, storage enterprises wait and see carefully picked, some of which are mainly purchased by traders. Other areas such as: Hunan Shuikoushan 16175 yuan / ton, the average price of SMM1# lead 50 yuan / ton quoted price of SMM1# lead 20 yuan / ton quoted; Yunnan small factory lead 15925 yuan / ton, the average price of SMM1# lead discount 200 yuan / ton; market demand is still relatively low, storage enterprises procurement is extremely cautious, market trading is bleak.

 

Zinc: Geneva zinc opened at US $2440.5 / tonne. At the beginning of the day, the daily average of zinc reached US $2425.5 / ton, and then Xu Li returned to the daily average for a little finishing. In the afternoon, he tried to detect the suppression of the 20-day moving average, but failed to bring the pressure down to US $2435 / ton. After finding the support, the upward touch was US $2460 / ton, which coincided with the decline and increase of LME zinc stocks. Lun Zinc retreated slightly, as of 1719, Lun Zinc closed up $13, or 0.53 per cent, at $2454 a tonne. Geneva zinc temporarily closed the positive line, the upper pressure Brin Road middle track operation, overseas market supply contradictions temporarily show or give zinc price some support, but LME zinc inventory recorded an increase of more than 2, 000 tons, but also weakened the supply side support, during the day short warehouse Lun zinc upward, night action can still be considered, night attention Brindao middle rail support.

The main 1909 contract of Shanghai zinc opened at 19260 yuan / ton, and the short position dragged down Shanghai zinc to 19180 yuan / ton at the beginning of the day. After finding support, it returned to rise 19330 yuan / ton, but failed to stand firm and quickly fell back to the daily average. However, it closed up 19250 yuan / ton, 35 yuan / ton higher than the previous transaction, an increase of 0.18%. The trading volume decreased 10676 hands to 393000 hands, and the position decreased 6576 hands to 271000 hands. During the day, Shanghai zinc closed in the sun, the overall support in the lower 5-day EMA operation, MACD indicators formed a gold fork, indicating that Shanghai zinc may have an upward trend, domestic inventories continue to decline slightly to give bulls a certain degree of confidence, the daily increase in positions to long, night observation above the 20-day EMA suppression.

Shanghai 0 # zinc mainstream transaction 19300 1920 yuan / ton, Shuangyan and Chihong 1910 1940 yuan / ton, 0 # ordinary August reported 60 to 90 yuan / ton; Shuangyan and Qihong reported 80 to 110 yuan / ton of rising water. The main trend of Shanghai 0 # zinc is 19300 yuan / ton, 1930 yuan / ton, 1910 yuan / ton and 80 yuan / ton. 1 # the mainstream transaction was between 19200 and 19220 yuan per ton. Zinc futures stable operation, the market long single goods circulation tends to be tense, early market because the cost has not yet been determined, the market net average price and net average price rise discount quotation is more active, and a small number of August water 60-80 yuan / ton transaction is weak. Entering the second trading period, the long single circulation was further tightened, the market quotation was raised to 80 yuan / ton, and the transaction was more active. However, after the water rose, the market shipment increased obviously, the market quotation moved down to 90 yuan / ton, and the transaction was slightly lighter, while other downstream brand quotations did not change significantly. Intra-day trading is still dominated by traders, downstream rigid demand procurement.

Guangdong 0 # zinc mainstream transaction in 19160 19230 yuan / ton, Shanghai zinc 1908 contract discount 40-30 yuan / ton, Guangdong market than Shanghai market since yesterday discount 110 yuan / ton to discount 130 yuan / ton. Refineries actively ship goods, and there is an abundant supply of goods in the market. The early quotation of the holder focused on the discount of 40 yuan / ton to the 08 contract, and some of the holders reported that near the flat water of the 09 contract, the market trading atmosphere was OK, and some of the subsequent holders took the lead in adjusting the price to about 20 yuan / ton of the 09 contract. The market transaction quickly warmed up, and the holder's willingness to raise the price became stronger and the water rose slightly to the 09 contract, and the market transaction became light again. Overall, today's Guangdong market trading atmosphere has warmed up, the overall transaction is stronger than yesterday. 0# Kirin, Cishan, Tiefeng and Mengzi mainstream were sold around 19160 to 19230 yuan per ton.

Tianjin market 0 # zinc ingot mainstream transaction in 19280 20310 yuan / ton, 0 # ordinary brand mainstream transaction in 19280 19350 yuan / ton, 1908 contract water 70 to 120 yuan / ton, Tianjin market than Shanghai stock market yesterday rose 40 yuan / ton near Pingshui. The supply of goods in the market is abundant, and the quotation of the holder in the morning focused on the 80 to 130 yuan / ton rising water for the 08 contract, but there were no more transactions in the market, and some of the subsequent holders reduced the water supply by about 20 yuan / ton, and a small amount of transactions were made downstream. On the whole, the trading atmosphere in Tianjin today has become light, the market bearish mood is stronger, the downstream is mainly cautious wait-and-see, the willingness to receive goods is not good, the market transaction is dominated by some low-price brands, the overall transaction situation is worse than yesterday. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold in 19280-19350 yuan / ton, and 1 # Zijin, Chihong, Hongye, etc., were sold in 1930-19300 yuan / ton.

 

Tin: after the opening of the electronic disk of US $17945 / ton today, from the Asian session to the beginning of the European trading, Lentsey fluctuated all the way up to US $18155 / ton and fell back slightly. As of 17-30, the latest price of Lensi is US $18105 / tonne, which is positive, and the physical part is under pressure on the 5-day EMA. The resistance above Lunxi is expected to be around the 10-day moving average of US $18250 / ton. The monthly rate of retail sales in the United States in June (%), the monthly rate of industrial output in the United States in June (%) and the change in API crude oil stocks in the United States in the early hours of the next morning (10,000 barrels) can be looked at this evening.

Shanghai tin main 1909 contract last night after the opening of 133260 yuan / ton, early trading quickly fell to last night low 132100 yuan / ton after the rapid reverse pumping to the night high of 134500 yuan / ton, and then until the close, Shanghai tin all the way down. After the opening of 132760 yuan / ton in early trading this morning, a large number of short positions in Shanghai tin all the way up more than 1500 yuan / ton, climbed to the intraday high of 135390 yuan / ton, then fell back slightly, and finally closed at 134890 yuan / ton, up 1670 yuan / ton, an increase of 1.25 per cent. The trading volume was 28646, an increase of 7966. The number of positions was 30844, a reduction of 1916. Today, Shanghai tin overall suppression and then rise, to close with the Changyang line, the physical part is located near the 5-10 EMA. It is estimated that the resistance above tin in Shanghai is near the previous high of 137500 yuan / ton.

In the spot market, the mainstream trading price was 133900 to 134700 yuan per ton this morning. With the Shanghai tin market all the way up, Shanghai tin spot prices rose as high as 134900 to 136100 yuan / ton this afternoon. On the demand side, the demand of downstream enterprises remains weak today, but some traders in Shanghai are actively replenishing goods, and the trading atmosphere in the spot market is general. Set Yunxi rising water 1200 yuan / ton, Yunzi rising water 800 yuan / ton, small brand rising water 400 yuan / ton-flat water.

 

Nickel: nickel opened at $13650 a tonne today. after the opening, Lennie fluctuated all the way up and continued to pull up, touching a new high of $13980 a tonne, the highest level in 2019. Subsequently, the pressure of $14000 / ton line, the center of gravity around $13900 / ton around a narrow range, as of 17 / 00, reported at $13895 / ton. Lennie today temporarily closed at the small positive line, as of today, Lennie has risen 10 days, breaking through the platform before the high, there is no other resistance above, this night to focus on whether Lennie can effectively break through the US $14000 / ton mark. This evening looked at the monthly rate of US business inventories in May, the monthly rate of retail sales in June, the monthly rate of import price index in June and the monthly rate of industrial output in June, and the NAHB housing market index in July.

Shanghai nickel 1909 opened today at 106830 yuan / ton, before noon, supported by the daily average concussion upward, near the end of the afternoon, at 108000 yuan / ton gate narrow range shock. In the afternoon, bulls continued to increase positions, Shanghai nickel continued to pull up, breaking 109000 yuan / ton, touching 109890 yuan / ton, followed by 109600 yuan / ton first-line shock finishing, closing at 109640 yuan / ton, up 4130 yuan / ton, or 3.91%, the first increase in nonferrous metal, trading volume increased by 71200 hands to 316000 hands, and position volume increased by 10300 hands to 191000 hands. Today, the Shanghai nickel 1908 contract closed at 109460 yuan per ton, up 4270 yuan, or 4.06 percent, from the previous day's settlement price, and trading volume increased by 172000 hands to 905000 hands. Shanghai nickel index today inflows 278 million yuan, ranking first in the inflow of non-ferrous funds. Throughout the day, the Shanghai nickel 1909 closed at the Zhongyang line, standing completely above the Boll line, paying attention to whether the Shanghai nickel continued to rise at the 110000 yuan / ton mark in the evening.

SMM1# electrolytic nickel 106200 107800 yuan / ton. Russian nickel than Shanghai nickel 1908 discount about 500yuan / ton, more stable than yesterday. Although the spot market trading is light in the near future, but the Russian nickel paste has not gradually expanded, mainly because of the serious import loss, there has not been a large number of sources of goods flowing into China in the near future, and the holders believe that even if the rising water is reduced, the stimulation for the transaction is limited. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1000 yuan / ton, slightly narrower than yesterday. Prices continue to rise today, the spot market transactions are cold, only a few downstream, because of the future bullish, into the market procurement, but the overall wait-and-see. The ex-factory price of Jinchuan Company was quoted at 107500 yuan, an increase of 500 yuan per ton from yesterday, and the mainstream transaction was 106 500 yuan to 108 000 yuan per ton. Although the nickel price continued to rise in the afternoon, close to 110000, but there are large steel mills into the market to purchase nickel plate, transaction improvement, trading volume is considerable, the mainstream transaction at 107500 to 109, 000 yuan / ton.

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