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July 18 SMM basic Metals spot Trading Day Review
Jul 18,2019 17:52CST
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Source:SMM
July 18 SMM basic Metals spot Trading Day Review
The content below was translated by Tencent automatically for reference.

Copper: Yapanlun Copper opened low at $5972 / tonne today. After the opening of trading, the US dollar was at a low volatility due to recent market expectations for the Federal Reserve to cut interest rates, giving Lentong a chance to pull up US $5983 / ton. but then the high level failed to hold steady, the overall around the daily average of $5970 / ton position began to do volatility trend, the amplitude gradually narrowed. Until entering the European trade, bulls reduced their positions at the beginning of the day, and copper prices quickly fell as low as US $5943.5 / ton, but very quickly. As the US dollar fell again to close to 97, copper prices were waiting for an opportunity to rise and rose again by US $5983 / tonne. As of 17-30, Lun Copper was at US $5976.5 / ton, down 0.11%. The US dollar index was at 97.102, and US crude oil at US $56.87 per barrel. Evening economic data performance is light, without macro guidance, copper prices will maintain the current center of gravity volatility. At present, the Lun Copper Yang entity under the shadow line elongated, below there are multiple recent EMA support, alert to the KDJ index is about to form a bad dead fork. Wait for guidance from the dollar and crude oil at night to test whether Lun Copper can hold the $5950 / tonne position at night.

 

Today, Shanghai Copper main contract 1909 opened at 46840 yuan / ton in the morning, immediately recovered to 46930 yuan / ton after the opening of 46830 yuan / ton, and then some bulls actively closed their positions, falling to the lowest level of 46720 yuan / ton in the day, and then rebounding as low as 46910 yuan / ton. After falling to 46760 yuan / ton in the afternoon, the center of gravity moved up to 46840 yuan / ton to maintain a concussion. At the end of the day, it fell slightly and closed at 46780 yuan / ton, down 210 yuan / ton, or 0.45 per cent. Today, Shanghai Copper's main contract position decreased by 2396 hands to 243000 hands, while trading volume decreased by 35000 hands to 140000 hands. Positions in the Shanghai Copper Index fell 5046 hands to 568000 today, while trading volume fell 42000 hands to 248000. Today, the overall performance of Shanghai copper is a volatile pattern, the market is still expected to cut interest rates, the US dollar today broke through the 97 mark, copper prices are supported to maintain the volatile trend, further attention to the Federal Reserve news and Sino-US trade situation, will form a guide to copper prices. At present, Shanghai copper cross star, above the pressure of the 5-day moving average, KDJ indicators open under the expansion, the technical side of a small negative copper prices. In the evening, wait for the guidance of the outside market to test whether Shanghai Copper can stand at the 46800 yuan / ton gate.

 

Today, the spot price of electrolytic copper in Shanghai is 20 yuan / ton to 80 yuan / ton, the transaction price of flat water copper is 46700 yuan / ton ~ 46820 yuan / ton, and the transaction price of copper is 46750 yuan / ton ~ 46860 yuan / ton. Shanghai copper concussion center of gravity slightly moved down to 46700 yuan / ton line. Spot market performance continued to stalemate, buying in general, the market maintained yesterday's price rose 20 to 80 yuan / ton. Flat water copper is not willing to lower the shipment, the price is more than 20 yuan / ton, if the market has a low price source is still favored by traders, good copper quotation tends to stabilize, the transaction is concentrated in the rising water 70 to 80 yuan / ton, downstream still maintain rigid demand, wet copper maintain discount 40 ~ 20 yuan / ton quotation. The price of good copper tends to be stable, the transaction is concentrated in the rising water 70 yuan / ton, the downstream still maintains the rigid demand, the wet process copper maintains the discount 40 ~ the discount 20 yuan / ton quotation. The market has the willingness to accept goods at a lower price, but the holder's willingness to hold the price is clear, the disk performance gives back some of the early increases, the trend is not clear for the time being, the quotation continues to show a stalemate, the supply and demand sides are divided, and the performance is in the middle of a stalemate. In the afternoon, the holder is really difficult to digest the supply of goods in hand, some eager to find, take the initiative to lower the quotation to attract consumption, but the overall trading is still in a cautious stop. In the afternoon, copper water level water-liter water 10 yuan / ton, good copper water 60-liter water 70 yuan / ton, transaction price in the range of 46740 yuan / ton-46860 yuan / ton.

 

 

Aluminum: Lun Al opened at US $1845 per ton in the morning. After falling below the 5-day moving average of $1838 a tonne in Asia, the aluminium quickly returned to near the 5-day moving average and continued to rebound in the afternoon, supported by a pullback in the dollar, to $1846.5 a tonne as of 15: 00. In Europe, the aluminium remained strong and its center of gravity rose, reaching a high of $1850.5 a tonne. As of 17: 38, aluminum was quoted at US $1848.5 per ton. As the center of gravity of the US finger moved down slightly, Lun Al continued to maintain a strong operation, at the same time, as the 5-day moving average continued to move up, the pressure above Lun Al was greater, and Lun Al continued to maintain a narrow range of oscillations.

 

The main force of Shanghai Aluminum was changed to 1909 contract, which opened at 13840 yuan / ton in the morning. After the opening of the market, the long position left the Shanghai aluminum low touched 13835 yuan / ton, briefly ran near the 10-day moving average before noon, and then entered the market, Shanghai aluminum concussion pierced the 5-day moving average and hit the upper 40 average in the afternoon, touching 13875 yuan / ton. At the end of the day, the high level led to the entry of short positions, and Shanghai Aluminum fell back to 13870 yuan per ton. Position increased by 4818 hands to 232182 hands. Short-term Shanghai aluminum fundamentals are still affected by weaker consumption, cost downward impact on the empty, at the same time, as today's social aluminum ingot inventory is flat and did not continue to rise, consumption improvement at the end of the third quarter is expected to make Shanghai aluminum continue to maintain range volatility.

 

Aluminum opening performance of the month range concussion, shock upward in the afternoon. In the morning, a large household around 13820 yuan / ton received more than 8, 000 tons in Shanghai and Wuxi. With the increase in aluminum futures, the spot price began to rise, starting to focus on 13830 yuan / ton and between 10 yuan / ton and 10 yuan / ton, which is basically the same as yesterday's price. Hangzhou transaction price is between 13850 yuan and 13860 yuan / ton. In the morning, the holders were very active in shipping, but there was a slight stalemate. In the second stage of the transaction, the number of middlemen receiving goods increased significantly, and the trading between buyers and sellers was active. Downstream today is still on-demand procurement, a small amount of stock and no bright spots. East China today as a whole, the transaction is better. Afternoon aluminum to maintain range volatility, although the holder quoted between 13830 to 13850 yuan / ton, pasted 20 to 10 yuan / ton, but due to the afternoon market performance is light, there is little transaction.

 

 

Lead: within a day, Lun lead opened at US $2005.5 / ton. In the Asian session, at the beginning of the day, driven by the strong pull of lead in Shanghai, the center of gravity of Lun lead gradually moved up, and then consolidated around US $2015.5 / ton, entering the European session. Lun lead continued to rise steadily, climbing US $2022 / ton, reaching a new high in more than three months. As of 17 / 30, Lun lead temporarily closed at US $2020 / ton, up US $15.5 / ton, an increase of 0.72%. Lun lead temporarily closed the Xiaoyang line, standing on the US $2000 / ton integer level, each EMA showed an upward trend, and showed a multi-head arrangement, coupled with the continued weakness of the US Index, to a certain extent, it may boost the strength of Lun lead, Lun lead at night or continue to run above US $2000 / ton at the test station.

 

During the day, the Shanghai lead 1909 contract opened at 16440 yuan / ton, at the beginning of the day, the bulls strongly increased their positions, pulling Shanghai lead all the way up to 16630 yuan / ton, the high position led to the first high entry, the Shanghai lead was under pressure and quickly spit out the rising part, and then shook below the 16500 yuan / ton line, and finally closed at 16500 yuan / ton, up 195 yuan / ton, an increase of 1.2%, and the position increased 9290 hands to 61140 hands. at the beginning of the day, the Shanghai lead 1909 contract opened at 16440 yuan / ton, at the beginning of the day, the bulls increased their positions all the way to 16630 yuan / ton. Shanghai lead close Dayang line, run along the 5-day EMA, and the 5-day EMA upward trend is more steep, coupled with long three consecutive trading days to increase positions by about 18000 hands, basically extinguished the courage of the short high pressure, if the night outside Lun lead continues to strengthen, or will continue to give Shanghai lead to continue the strong momentum.

 

Shanghai market double Yan lead 16455 yuan / ton, for 1908 contract flat water quotation; Jinsha lead 16505 yuan / ton, 1908 contract liter water 50 yuan / ton quotation; Jiangsu and Zhejiang area Jijin, Wanyang, Yuguang, copper crown lead 1640516455 yuan / ton, 1908 contract discount 50 yuan / ton to Pingshui quotation. The futures market is strong and broken one after another, coupled with the flow of goods into the market after delivery, the holder is more active in shipping, and the quotation discount is expanded again, but the downstream fear of high is only carefully picked with rigid demand, at the same time, the refinery shipment is more than 100 yuan / ton of SMM1# electrolytic lead average price discount, and the recycled refined lead discount is expanded to 200 to SMM1# electrolytic lead average price discount of 200 / 150 yuan / ton, the trader is passive, the price does not have the market, at the same time the refinery goods mostly to the SMM1# electrolytic lead average price discount 100 50 yuan / ton, the trader shipment passively, the price does not have the market.

 

Guangdong market Nanhua lead 16400 yuan / ton, the average price of SMM1# lead 50 yuan / ton, southern gold sand 1647516505 yuan / ton, 1908 contract water 20 50 yuan / ton, southern storage south 16455 yuan / ton, 1908 contract flat water quotation. Lead shock higher, downstream cautious procurement, market trading dismal. Henan Yuguang and other smelters mainly to long single transaction; Yuguang 16250-16300 yuan / ton, SMM1# lead discount 50 yuan / ton to 100 yuan / ton offer; Wanyang 16300 yuan / ton, SMM1# lead discount 50 yuan / ton quotation; Jinli 16250-16300 yuan / ton, SMM1# lead discount 50 yuan / ton to discount 100 yuan / ton quotation; lead prices continue to go high, storage enterprises fear high mining, market transactions are bleak. Other areas such as: Hunan Shuikoushan 16350 yuan / ton, SMM1# lead average price flat water quotation (trader source); Hunan Jingui 16270 yuan / ton, SMM1# lead average price discount 80 yuan / ton; Jiang copper 16270 yuan / ton, SMM1# lead average price flat water quotation; Jiangxi Jinde, copper crown 16250 yuan / ton, SMM1# lead average price 100 yuan / ton; Yunnan small factory lead 16000 yuan / ton, SMM1# lead average discount 350 yuan / ton; Market demand is still relatively low, storage enterprises procurement is extremely cautious, market trading is bleak.

 

 

Zinc: Geneva zinc opened at US $2470 / tonne, and at the beginning of the day, the daily average of zinc climbed to about US $2475 / tonne, and then, with the decline of the US Index, the action on the zinc was sufficient to try to raise the integer level of US $2500 / tonne. However, the bet at the integer level was still strong. Both tests of zinc in Geneva were not stable, and the pressure on the operating center of gravity fell back to around US $2485 / ton, which coincided with the second consecutive decline in LME zinc stocks. Len zinc rose slightly and fell back, closing at $2488 a tonne, up $16, or 0.65 per cent, at 16 to 35. Geneva zinc recorded a small positive line, the overall operation around the 40-day moving average, overseas returned to the back structure, inventories still maintained a small decline and failed to attract more positions, indicating that overseas supply contradictions still exist, bulls confidence is strong, increase warehouse increase Zhenlun zinc upward, pay attention to Brindao middle rail support at night.

 

The main 1909 contract of Shanghai zinc was opened at 19430 yuan / ton at the beginning of the day. At the beginning of the day, the main contract of Shanghai zinc was opened at 19430 yuan / ton. At the beginning of the day, the short position was reduced to vibration, and the middle track of Shanghai Zinc Upstream was detected. However, the main contract of Shanghai zinc was opened at 19430 yuan / ton. At the beginning of the day, the main contract of Shanghai zinc was opened at 19430 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19430 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19430 yuan / ton. at the beginning of the day, the main contract of Shanghai zinc was opened at 19430 yuan / ton. Compared with the previous transaction, it rose 175yuan / ton, or 0.90%, trading volume increased 49250 hands to 482000 hands, and position volume decreased 3462 hands to 266000 hands. Within a day, Shanghai zinc received a small Yang column, the overall operation in the 20th and 40th EMA channel, attached to the shadow line under the 20-day EMA support strength, the domestic supply volume is expected to increase, 08 and 09 contract monthly difference narrowed to near the flat water, near strong far weak pattern gradually collapsed, night multi-empty saw, Shanghai zinc or around the 40-day moving average finishing operation.

 

Shanghai 0 # zinc mainstream transaction 1948-19530 yuan / ton, Shuangyan, Chihong transactions in 19500-19540 yuan / ton, 0 # ordinary August water 70-90 yuan / ton; Shuangyan, Chi Hong reported 80-100 yuan / ton. 1 # the mainstream transaction was between 1980 and 1940 yuan per ton. Zinc futures continued to rise, due to the transfer of ownership in the third-party warehouse, the transfer of goods rights was slow, and the trading activity of the market decreased significantly within a day. In the morning market, the average price of the net or the average price of the net rose, or the rising water was 70 to 90 yuan / ton, the deposit price of zinc ingots of the same brand in different warehouses was different, the overall market transaction was relatively weak, and the inventory market was relatively active. Entering the second trading period, the market trading continued to be weak, and the downstream brand quotations dominated, but after the zinc returned to rise, the downstream wait-and-see mood was stronger, and the price adjustment effect of some traders was limited. The overall market trading and transaction are significantly lower than yesterday.

 

Guangdong 0 # zinc mainstream transaction in 19320 1910 yuan / ton, Shanghai zinc 1909 contract discount 60-discount 40 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. In the morning, the quotations of the holders are more concentrated, basically around the average price of-20 yuan / ton, but there are no more transactions in the market, and the trading between traders is also more limited. Entering the second trading session, the market focused on the 1909 contract discount 40 to 20 yuan / ton, some holders once again downgraded the discount to about 60 yuan / ton to 09 contract discount, market transactions have not yet received a significant boost. Today, Guangdong market traders and downstream do not have a higher willingness to receive goods, the market transaction situation is getting worse again. 0# Kirin, Cishan, Tiefeng, Mengzi mainstream transactions in 19320 1910 yuan / ton.

 

The mainstream of 0 # zinc ingots in Tianjin market was sold at 1940-20400 yuan / ton, the mainstream of 0 # ordinary brand was sold at 1940-19510 yuan / ton, and the water supply for 1908 contract was 40-70 yuan / ton. Tianjin market changed to 30 yuan / ton discount from Pingshui yesterday. Disk upward, refinery active shipment, market supply circulation is more abundant. The carrier mainly shipped the goods, and the early quotation focused on the 80 to 120 yuan / ton rising water for the 08 contract, but most of the downstream were mainly cautious and wait and see, and their willingness to receive the goods was not good. Subsequently, some of the holders took the lead in lowering the supply of high-priced brands to 70 to 80 yuan / ton, and the rising water supply of low-priced brands concentrated in the vicinity of 40 to 50 yuan / ton for 09 contract. However, after the price adjustment, the market transaction has not been significantly boosted, just in time for the market to rise rapidly. Market transactions have slumped again. The trading situation in Tianjin today is worse than that of yesterday. 0 # Zijin, Hongye, lark, Chihong, Xiyan, etc., were sold in 1940-19510 yuan / ton, and 1 # Zijin, Chihong, Hongye, etc., were sold in 1990-1960 yuan / ton.

 

 

Tin: after the opening of the $17970 / ton electronic disk today, there was an overall upward trend in the Asian session, reaching $18145 / ton between early and midday trading. In the afternoon of the Asian market, Lunxi fell back under pressure, wiping out the early gains. After the opening of European trading, continued to decline slightly, as of 17-00, Lunxi overall affected by crude oil prices, the latest price of $17870 / ton, negative line, the upper part of the entity under pressure on the 5-day moving average, the upper shadow line to near the 10-day moving average. Support below Lunxi is expected to be near the previous low of $17500 a tonne. This evening, you can pay attention to the number of initial jobless claims in the United States in the week ended July 13 (10,000).

 

Shanghai tin main 1909 contract last night after the opening of 134190 yuan / ton, the overall maintenance in the opening price near the shock finishing. After the opening of 134090 yuan / ton in early trading this morning, it rose to an intraday high of 136550 yuan / ton between early trading and midday trading. In the afternoon, tin pressure fell back in Shanghai, and finally closed at 134700 yuan per ton, up 540 yuan per ton, or 0.4 per cent. The trading volume was 23484, an increase of 8018. The number of positions was 29170, a reduction of 1324. Today, Shanghai tin overall high fall, interval concussion pattern has not changed, to close with the small positive line, the upper shadow line is longer, the lower part of the entity is supported by the 5-day EMA, and the upper part is under pressure on the 10-day EMA. It is estimated that the lower support of tin in Shanghai will be around 132000 yuan / ton, and the upper resistance will be around 137500 yuan / ton.

 

Spot market, this morning, the mainstream trading price of 135500 to 137000 yuan / ton, although the Shanghai tin plate rose in the morning, but only a few sets in Shanghai to replenish goods at low prices, most of them maintain a wait-and-see attitude; downstream enterprises still maintain a weak state of buying. In the afternoon, the tin plate in Shanghai fell back, but the rising water did not change significantly, the mainstream transaction price was 135000 to 136000 yuan / ton. Today, the overall trading atmosphere of the Shanghai tin spot market is general. Set Yunxi rising water 1100 yuan / ton, ordinary cloud character rising water 1000 to 700 yuan / ton, small brand rising water 600 to 400 yuan / ton.

 

 

Nickel: nickel opened today at $14330 / tonne, opened horizontally after finishing, to around 9:00, Lennie rose sharply upward, after touching $14910 / ton, the center of gravity around $14850 / ton first-line narrow concussion. In the afternoon into Europe, a small adjustment in nickel fell back to around $14750 per tonne per day, trading at $14760 per tonne as of 17. 00. Lun Ni temporarily closed at the Zhongyang line, as of today set a 12-day Lianyang record, the evening is expected to continue to rise, focusing on the high target ahead of the $15000 / ton barrier. At night, pay attention to the monthly rate of the leading index of the Conference Board in June, and pay attention to the direction of the dollar index.

 

Shanghai nickel 1910 contract opened today at 112890 yuan / ton, early in the day, rose to 114700 yuan / ton first line short horizontal shock, then bulls continue to increase positions, shanghai nickel rose sharply to 117000 yuan / ton line, touching the limit of 117150 yuan / ton. In the afternoon, Shanghai nickel in 117000 yuan / ton first line horizontal finishing, until the close, closed at 117090 yuan / ton, almost closed at the stop price, compared with the previous trading day settlement price rose 6570 yuan / ton, up 5.94%, position increased 32916 hands to 253228 hands, trading volume increased 303000 hands to 712000 hands. Today, Shanghai nickel 08, 09 contracts are up 5.99%, almost all hit the limit. 1908 the contract closed at $116860 / tonne today, up 6600 yuan / tonne from the previous day's settlement price, and trading volume increased by 305000 hands to 1.263 million hands. Throughout the day, Shanghai nickel 1910 capital inflow reached 408 million yuan, closed at the Dayang line, has closed for seven consecutive days, the evening is expected to continue the crazy rising trend, continued to rise upward. Pay attention to the guidance on the change of position.

 

SMM 1 # electrolytic nickel 113900 115500 yuan / ton. Russian nickel than Shanghai nickel 1908 sticker 350-paste 300 yuan / ton, more stable than yesterday. The recent nickel price crazy pull up, the first half of the week after the downstream take goods, today's transaction tends to be flat, spot trading in general. Although the spot transaction is cold, but the holder because recently does not have the massive source of goods to flow into the domestic, basically by the straight rise discount water primarily. Jinchuan nickel than Shanghai nickel 1908 contract generally reported a water rise of 1200 to 1300 yuan / ton, an increase from yesterday. Jinchuan nickel also due to a sharp rise in nickel prices, downstream procurement decreased, but recently due to the rise of reasonable, traders into the market consignee in the majority, resulting in a small increase in water. The ex-factory price of Jinchuan Company was 116000, 5500 yuan / ton higher than yesterday, and the mainstream transaction was 114500-116200 yuan / ton. In the afternoon, the nickel price basically revolves around 116500 yuan / ton shock, the downstream is basically wait-and-see, as far as possible to seek other alternative raw materials, the spot market Jinchuan nickel supply is less, rising water is stronger, the mainstream transaction at 115900 to 117000 yuan / ton.

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