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[SMM afternoon Review] Shanghai nickel rose more than 4% Shanghai copper rose 2% Shanghai lead rose more than 1% metal red flag fluttering black system trend differentiation
Jul 19,2019 11:41CST
The content below was translated by Tencent automatically for reference.

SMM7 19: this morning the non-ferrous metals market fluttered red, by noon close, Shanghai nickel rose nearly 4.3%, Shanghai copper rose nearly 2%, Shanghai lead rose nearly 1.1%, Shanghai aluminum rose nearly 0.6%, Shanghai tin, Shanghai zinc rose nearly 0.4%; Among them, nickel, SMM believes that the supply and demand side has not substantial major news changes, the recent nickel prices continue to rise, each link of the industrial chain products are also in a passive state, the pace of the financial support of the bull market is more difficult to grasp, not suitable for unilateral traders now enter the operation, follow-up attention to the capital side of the trend. Many rumors about Indonesia, such as financing, policy changes, etc., are worth analyzing and measuring, but they are also lack of guidance for the short-term market. "[market change] Global interest rate cuts are expected to boost metal inflation, nickel prices skyrocketing, guard against the risk of catching up.

In the black system, coke dropped by nearly 1.6%, thread by more than 1%, hot roll by nearly 0.8%, coking coal by nearly 0.6%, and iron ore by nearly 1%. Shanxi Province began to implement the "Shanxi Province to win the Blue Sky Defense 2019 Action Plan", will take positive measures to deal with heavy pollution weather, autumn and winter key industries industrial enterprises differentiation cross-peak production to finalize the implementation details. From October 1, enterprises that fail to complete the task of annual governance and transformation (including unorganized emission management) will stop production. Iron and steel, building materials, coking, casting, non-ferrous, chemical and other high emission industries, to achieve the corresponding industry air pollutant emission limit and complete the requirements of unorganized emission control, the heating period to implement differential cross-peak production.

Last issue of crude oil fell nearly 1.7 per cent; on the news side, Fatih Birol (Fatih Birol), director of the (IEA) of the International Energy Agency, said on Thursday that the agency had cut its forecast for global oil demand growth in 2019 due to slowing global economic growth and the impact of trade frictions between China and the United States.


Spot today:


Zinc: Tianjin market 0 # zinc ingot mainstream transaction in 19550 20530 yuan / ton, 0 # ordinary brand mainstream transaction in 19550 19610 yuan / ton, 1908 contract water 20 to 60 yuan / ton, Tianjin stock market than Shanghai stock market since yesterday discount 30 yuan / ton. The plate returns to rise, the refinery actively ships the goods, the market supply circulation is abundant. In the morning, the holders concentrated their quotations around 50 to 70 yuan / ton for the 08 contract, and the downstream continued their wait-and-see attitude yesterday. There was no obvious willingness to receive the goods as a whole. Some of the subsequent holders downgraded the rising water to around 20 to 60 yuan per ton for the 08 contract, resulting in a small amount of market transactions. Overall, today's Tianjin market continues the trend of priceless, downstream hope to fall stronger, in addition to rigid demand to buy outside the weekend reserve demand, the overall transaction situation is again lighter than yesterday. 0 # Zijin, Hongye, lark, Chi Hong, West Mine, etc., were sold in 19550 to 19610 yuan / ton, and 1 # Zijin, Chi Hong, Hongye, etc., were sold in 19500 to 19560 yuan / ton.

Guangdong 0 # zinc mainstream transaction in 1950 19510 yuan / ton, Shanghai zinc 1909 contract discount 70-discount 50 yuan / ton, Guangdong market than Shanghai market since yesterday discount 130 yuan / ton to discount 140 yuan / ton. Refineries actively ship goods, and there is an abundant supply of goods in the market. The holder early quotation is more unified, concentrated in the average price-10 yuan / ton or so, the market transaction continuation is weak, enters the second trading period, some holders intend to receive the goods at the discount of 70 yuan / ton to the 09 contract, while the shipper focuses on the shipment near the discount of 60-50 yuan / ton to the 09 contract, and the willingness to receive and ship is quite different, and the market transaction is deadlocked. Overall, downstream early replenishment bank overdraft follow-up consumption, trading between traders is still divided, today's Guangdong market transactions again lighter than yesterday. 0# Kirin, Cishan, Tiefeng and Mengzi mainstream were sold in 1950 to 19510 yuan / ton.

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