Copper: today, Yapan copper opened low at US $5662 / tonne. After falling US $5650 / ton in the morning, due to the rebound of the RMB today, bulls took advantage of the low market, copper prices rose rapidly in the morning, and the afternoon rally slowed down. Until the European session, the overall center of gravity was basically stable at around US $5700 / ton, during which the overall center of gravity was up US $5714 / ton. At 17-30, bronze was up 0.45% at $5701 a tonne, the dollar index at 97. 532 and crude at $55. 06 a barrel. Evening economic data performance is light, the recent deepening trade contradictions, resulting in strong risk aversion sentiment in the market, copper prices are expected to continue to perform under pressure, but also does not rule out the possibility of a small upward repair. At present, Lun Copper technical side waiting for KDJ indicators are expected to form a good gold fork, to promote the overall trend of Lun Copper to obtain technical support. Wait for guidance from the dollar and crude oil at night to test whether Lentong can hold the $5700 / ton mark at night.

Today, Shanghai Copper main contract 1909 opened in the morning at 46090 yuan / ton, immediately after the opening of the lowest level of 45970 yuan / ton, immediately after the rebound, continued to maintain the rising trend to 46140 yuan / ton, and then the center of gravity basically maintained at 46120 yuan / ton until the end of the afternoon, afternoon trading continued to rise, reached the highest level of 46240 yuan / ton in the afternoon, the end of the day fell slightly and closed at 46150 yuan / ton, up 46090 yuan / ton, up 0.44%. Today, Shanghai Copper's main contract position increased by 4522 hands to 222000 hands, while trading volume decreased by 304000 hands to 322000 hands. The Shanghai Copper Index rose 39000 hands to 646000 today, while trading volume fell 530000 hands to 858000. The overall performance of copper prices in Shanghai rose slightly today, mainly maintained near the 46000 yuan / ton gate, mainly because the RMB continues to be weak, supporting copper prices, and copper prices have not continued to fall in recent days, but Sino-US trade relations are still tense. We should pay further attention to the changes in the situation and will form a guide to copper prices. At present, Shanghai copper slightly closed in the sun, the bottom is still under the exploration of Brin under the track, KDJ indicators continue to be negative, the technical face of copper prices up is still lack of strong support. In the evening, wait for the guidance of the outside market to test whether Shanghai Copper can continue to stand at the 46100 yuan / ton gate.

Today, the spot price of electrolytic copper in Shanghai is quoted for 50 to 100 yuan per ton of water, 46080 yuan to 46120 yuan per ton of copper for flat water and 46120 yuan to 46160 yuan per ton for copper in water. Shanghai copper rose slightly to more than 46000 yuan per ton. Morning market holders continue yesterday's quotation 60 to 100 yuan / ton, the transaction shows a stalemate, where there is a willingness to receive the goods in the lower water level, supply and demand for a long time, in the context of difficult improvement in the transaction, the rising water is loosened, flat copper is concentrated in the rising water 50 60 yuan / ton transactions, some good copper sources can be as low as 80 yuan / ton, 100 yuan / ton good copper transactions are rare; Wet copper supply is still favored downstream, quoted water 20 to 30 yuan / ton line. As the market level hovers, today's holders still have a willingness to raise prices, but traders' willingness to receive goods is significantly reduced, and the space for rising water to lift is also limited, but it is also difficult to achieve a sustained downward adjustment, and the profit space for rising water in the future will be suppressed. Downstream performance in the off-season performance more cautious stop, so that today's market trading volume fell compared with yesterday, short-term rising water continued to show stalemate. As a result of today's market transaction heat decline, afternoon inquiry atmosphere weakened, the afternoon market has been able to depress the price of good copper, but flat copper quotation is still relatively strong. In the afternoon, copper water 50-60 yuan / ton, good copper 80-90 yuan / ton, transaction price in the range of 46100 yuan / ton-46240 yuan / ton.

Aluminum: Lun Al opened at US $1765.5 per ton in the morning. In Asia, the aluminum shock strengthened in the afternoon, a small rebound to repair some of the decline, the aluminum weakened in the afternoon, the low hit $1764 / ton, as of 15: 00 Lun aluminum was at $1765 / ton. In Europe, the rebound in the US index weakened, with all the colors turning red, with Lunda trading as high as $1772.5 a tonne as of 17: 52, which had not yet fixed Monday's decline. A wave of US dollar interest rate cuts have not been flat, a wave of trade disputes have intensified again, Lun Aluminum has returned to the previous month's gains, Lun Aluminum is expected to remain low and volatile in the evening, it is difficult to show a significant rise in the short term.

The main contract of Shanghai Aluminum was opened at 13895 yuan per ton in the morning. After the opening of the long small increase in positions, Shanghai aluminum shock operation high level touched 13910 yuan / ton, after the high position led to short entry, Shanghai aluminum shock down in the afternoon, low touched 13865 yuan / ton. Short afternoon entry, and closed before the close, Shanghai aluminum concussion, closed at a low of 13865 yuan / ton. Positions increased by 2608 to 216460, while Shanghai Aluminum Index increased by 3600 to 714796. Short-term trade disputes intensified, overseas metals weakened, Shanghai aluminum returned to its own fundamentals, mainly maintain 13700 to 13900 yuan / ton range shock, can try low layout more single.

In the spot market, aluminum futures maintained range volatility before noon of the month. The spot trading price of aluminum ingots in Wuxi and Shanghai is concentrated between 13900 and 13910 yuan / ton, and the rising water on the plate continues to rise to 30 to 40 yuan / ton, nearly 30 yuan / ton higher than yesterday's price, and the market price in Hangzhou is between 13930 and 13940 yuan / ton. Today, prices have picked up and holders are actively shipping, but in view of the fact that the supply of goods in the market is tighter than in the previous period, today's performance is strong, coupled with the fact that some middlemen are optimistic about the future market, they are positive in receiving the goods today, and the spot water has thus risen somewhat. However, due to the higher price, the actual transaction is slightly deadlocked. Downstream manufacturers today on-demand procurement, the performance of fear of high, receiving status and no bright spots. Today, the overall transaction in East China is OK. In the afternoon, the market maintained a narrow range of fluctuations, the market spot trading price concentrated in the vicinity of 13910 yuan / ton, the rising water of 40 yuan / ton, only a small number of transactions.

Lead: within a day, Lun lead opened at US $1959.5 / ton. In the Asian session, at the beginning of the day, Lun lead briefly consolidated along the daily average, the overall strength of non-ferrous metals on the outer plate, and the center of gravity of Lun lead also slowly moved up. In the afternoon, driven by the strong trend of lead in Shanghai, and the fall of the US dollar, the center of gravity of Lun lead accelerated, entering the European period, as the LME lead discount structure changed to back, Lunlead continued to rise, and once hit 1995 US dollars per ton. At 16-26, Lun lead temporarily closed at $1994 a tonne, up $34 a tonne, or 1.73 per cent. Lun lead temporarily closed the Zhongyang line, stopped falling but rose, and the 5-day moving average trend flattened, night Lun lead may be supported by the 40-day moving average, and test the pressure of 2000 US dollars / ton integer crossing.

Within a day, the Shanghai lead 1909 contract opened at 16370 yuan / ton. At the beginning of the day, Shanghai lead basically ran along the daily average. In the afternoon, long lead entered the market, climbing all the way to 16600 yuan / ton, and finally closed at 16595 yuan / ton, up 1909 yuan / ton, an increase of 1.93%, and the position increased 3872 hands to 56488 hands. Shanghai lead closed Dayang line, make up some of the previous decline, the lower 40-day moving average has strong support, coupled with the drive of lead on the outside, Shanghai lead at night or continue high shock, but also do not rule out the emergence of extremely rapid rise after the stage blocked callback.

Shanghai market Jinsha lead 16345 yuan / ton, water 20 yuan / ton for 1909 contract; Jiangsu and Zhejiang area Jijin, Wanyang, Yuguang, copper crown lead 1625516265 yuan / ton, 1909 contract discount 70 60 yuan / ton, Shangjing lead 1623516245yuan / ton, 1908 contract discount 3020 yuan / ton. Futures market shock consolidation, the holder with the quotation, downstream storage enterprise inquiry is active, on demand procurement, but due to the current price difference, part of the downstream procurement is still dominated by refinery supplies, market transaction activity is better.

Guangdong market Nanhua lead 16275 yuan / ton, the average price of SMM1# lead water 50 yuan / ton quotation; gold expensive 16245 yuan / ton, to 1908 contract discount 20 yuan / ton; Yunsha 16225 yuan / ton, SMM1# lead average price level water quotation; lead price stops falling, the holder actively ships, downstream today meets the low to replenish the warehouse the desire is better. Henan Yuguang and other smelters mainly to long single transaction; Wanyang 16225 yuan / ton, the average price of SMM1# lead flat water quotation; Jinli 16175 to 16225 yuan / ton, SMM1# lead average price discount 50 yuan / ton to flat water quotation; lead price exploration low recovery, storage enterprises meet low demand replenishment, market transactions are general. Other areas such as: Hunan Shuikoushan 16225 yuan / ton, SMM1# lead average price flat water quotation (trader source); Hunan Jingui 16145 yuan / ton, SMM1# lead average price discount 80 yuan / ton; Jiangxi copper 16275 yuan / ton, to SMM1# lead average price rise water 50 yuan / ton quotation; Jiangxi Jinde 16225 yuan / ton, SMM1# lead average price level water. Yunnan small factory quoted 15925 yuan / ton, the average price of SMM1# lead discount 250yuan / ton; lead price low shock, market procurement rigid demand, market trading is still good.

Zinc: Geneva zinc opened at US $2319.5 / tonne, and the daily average climbed to US $2330 / tonne at the beginning of the day. During the European trading session, Len Zinc twice tried to measure the pressure on the lower track of Brin Road, but failed to stand firm. The pressure fell back to US $2325 / tonne, just as LME zinc stocks recorded two consecutive declines, and Len Zinc rose slightly, closing at US $2328.5 per tonne, up US $6 per tonne, or 0.26 per cent, as of 16 to 50. The market closed at US $2328.5 per tonne, up US $6 per tonne, or 0.26 per cent, as of 16 to 50. Geneva zinc temporarily closed the positive line, stopped falling in Wulianyin, in the case of intra-day macro-emotional uncertainty, Len zinc bias interval arrangement, overseas market contango structure slightly narrowed, spot supply contradiction slightly repaired, or give Len zinc a certain amount of energy to stop the decline, night Len zinc or weak run near the lower track of Brindell road. (2) under the condition of slight narrowing of the structure of overseas market, the contradiction between spot supply and spot supply is slightly repaired, or a certain amount of kinetic energy is given.

Within a day, the main 1909 contract of Shanghai zinc opened at 19185 yuan / ton, after the initial probe of 19150 yuan / ton, although there was a small return, but in the morning, the pressure daily average line, around 19180 yuan / ton around a narrow range of shock operation, a large number of short leaves in the afternoon, to boost the Shanghai zinc operation center of gravity moved up, the afternoon touch high 19280 yuan / ton blocked finishing, closed up 19265 yuan / ton, up 55 yuan / ton, up 0.29%, trading volume decreased 73810 hands to 202000 hands, and the Shanghai zinc operation center of gravity moved up in the afternoon, touching 19280 yuan / ton in the afternoon, closing up 19265 yuan / ton, up 55 yuan / ton, up 0.29%, and trading volume decreased by 73810 hands to 202000 hands. Reduce your position by 17278 to 165000. The 1910-1912 contract added more than 11000 positions. The main position to change the month is in front of us, Shanghai zinc near strong far weak characteristics gradually obvious. Within the day, Shanghai zinc received a cross star, above a number of recent EMA gathering adhesion, pressure difficult to return, waiting for further guidance from the outside disk.

Shanghai 0 # zinc mainstream transaction 19280 1920 yuan / ton, Shuangyan 19290 19350 yuan / ton; 0 # ordinary August water rise 140 150 yuan / ton; Shuangyan August water rising report 150 170 yuan / ton; 1 # mainstream transaction 1910 19250 yuan / ton. Today, traders continue to quote yesterday's trend, early quotation 0 # ordinary August rising water 140 150 yuan / ton, some market traders single replenishment demand into the market, traders quoted part of the tilt to September, September 0 # ordinary water 120 to 130 yuan / ton, 1908 to 1909 contract price difference of about 15 to 20 yuan / ton. In addition, the price difference between Shanghai and Guangdong has reached 180 to 190 yuan per ton, and some traders have begun to consider replacement operations. Enter the second trading period, market trading has not changed much, on the whole, today's market transactions are flat than yesterday, downstream buying sentiment is more general.

Guangdong 0 # zinc mainstream transaction in 19100 19150 yuan / ton, Shanghai zinc 1909 contract discount 70 to 40 yuan / ton, Guangdong market than Shanghai stock market maintained in the discount of 170 yuan / ton yesterday. Refinery normal shipment, the market supply of goods is still abundant. The early quotation of the holder concentrated on the average price reduced by 10 yuan / ton, but there was no significant transaction in the market. In the second trading period, the holder actively shipped the goods and lowered the discount to the 09 contract 70 yuan / ton to 40 yuan / ton. After the price adjustment, the transaction concentrated on the 09 contract sticker 60-70 yuan / ton more, to 09 sticker 40-50 yuan / ton transaction is less. Overall, transactions in Guangdong market turned worse again today, with traders contributing to the main trading. 0# Kirin, Cishan, Tiefeng and Mengzi mainstream were sold at about 19100 to 19150 yuan per ton.

Tianjin market 0 # zinc ingot mainstream transactions in 1930 to 20070 yuan / ton, 0 # ordinary brand mainstream transactions in 1930 to 19280 yuan / ton, 1908 contract water 80 to 120 yuan / ton, Tianjin market than Shanghai market discount 80 yuan / ton yesterday to 40 yuan / ton discount. The refinery maintains normal shipment, and the market supply is abundant. In the morning, the quotation of the holder focused on the 08 contract rising water 80-140 yuan / ton, but the downstream is mainly cautious wait-and-see, the willingness to receive goods is not good, and then some holders took the lead in lowering the supply of high-priced brands to around 80 yuan / ton of 08 contract. After the price adjustment, the transaction of high-priced brand goods slightly improved, and the transaction of ordinary low-price brands continued to be light. Overall, downstream as a result of last week bargain buying on the follow-up consumption overdraft, superimposed on zinc prices more bearish, waiting for a stronger wait-and-see mood, poor willingness to receive goods, today's transaction situation is significantly lighter than yesterday. 0 # Zijin, Hongye, lark, Chi Hong, etc., were sold in 1930 to 19280 yuan / ton, and 1 # Zijin, Chi Hong, Hongye, etc., were sold in 19180 to 19230 yuan / ton.

Tin: after the opening of the $16885 / ton electronic disk today, the sub-session generally showed a wave segment upward trend, climbing to $17025 / ton. After the opening of the European market, Lunxi rose again after a slight step back under pressure, and as of 17-30, the latest price of Lunxi was $17000 / ton, a positive line below all EMA and expected to support around $16500 / ton below Lentz. the upper resistance is near the 5-day moving average of $17200 / ton. In the near future, we can pay attention to the EIA monthly short-term energy outlook report in the early morning of the next day and the change in API crude oil stocks in the United States in the week ended August 2 (10,000 barrels).

Shanghai tin main 1909 contract last night after the opening of 132960 yuan / ton, the initial rush to 134100 yuan / ton around to maintain the concussion finishing situation. After opening 134000 yuan / ton in early trading this morning, it quickly rose again to 134600 yuan / ton at the beginning of the day, and finally closed at 134530 yuan / ton, up 1240 yuan / ton, or 0.93 per cent. The trading volume was 16158, a decrease of 6248. The number of positions was 20080, a reduction of 1378. Today, Shanghai tin is mainly due to the departure of short positions, Shanghai tin Changyang line rose, recovered most of the previous trading decline, is expected to short-term Shanghai tin support around 132000 yuan / ton.

Spot market, today's mainstream transaction price 135000 to 136000 yuan / ton, there is a small amount of 134500 yuan / ton low price small brand supply. With the rise of the tin market in Shanghai and the weakness of downstream enterprises, the overall trading atmosphere in the spot market in Shanghai and tin is light. Yunxi rose 1000 yuan to 1200 yuan per ton, ordinary Yunzi rose 600 yuan to 800 yuan per ton, and small brands rose 300 to 500 yuan per ton.

Nickel: nickel today opened at US $14850 / tonne. At the beginning of the day, Lennie pulled up, breaking through the US $15000 / ton mark. After touching US $15010 / ton, the 10,000 level led to a high return of gains. Lennie fell back slightly to US $14900 / ton. The center of gravity fluctuated around the daily moving average. After entering the European session, the bulls made a renewed effort. Lun Ni went up five thousand dollars in one stop, up US $15090 / ton, as of 17-25. the center of gravity fluctuated around the daily moving average. After entering the European session, the bulls made another effort. At the beginning of the day, Lennie went up five thousand dollars, up US $15090 / ton, as of 17-25, It was quoted at US $15050 per ton, up US $190 per ton. Lun Ni closed the positive line, focusing on whether Leng Ni can effectively hold the 10,000 mark, breaking through the recent high of US $15100 / ton. The data were light this evening.

Shanghai nickel 1910 contract opened today at 118600 yuan / ton, before noon, shanghai nickel repeatedly down 118300 yuan / ton failed, the overall daily average of 118300 yuan / ton above the first line shock operation. Near noon close, bulls significantly reduced their positions, Shanghai nickel fell to 117600 yuan / ton line to get support, afternoon shock returned to rise above the daily average, the daily average to support a narrow range of fluctuations, finally closed at 118600 yuan / ton, compared with the previous trading day settlement price rose 2560 yuan / ton, up 2.21%, trading volume decreased 511000 hands to 1.036 million hands, position volume increased 7400 hands to 446000 hands. Throughout the day, the Shanghai nickel 1910 contract center of gravity around 118400 yuan / ton line narrow range shock, and finally closed at the cross star. Today, the 1910-2001 contract added nearly 20, 000 positions, and the Shanghai nickel index increased its positions by more than 13000 hands. Although the bulls are not as strong as yesterday, they still control the market. In the evening, it is expected that the range of 118000 to 119000 yuan per ton will continue to fluctuate, and the target is expected to hit the 120000 mark.

SMM 1 # electrolytic nickel 117800 119600 yuan / ton. The discount of Russian nickel is about 300yuan / ton compared with Shanghai nickel 1909, and Jinchuan nickel is 13001400 yuan / ton higher than Shanghai nickel 1909 contract. Early trading hours, nickel prices around 118200 shock, spot transactions continue to be light, more downstream in the wait-and-see, afraid of high and cautious procurement. Higher nickel prices lead to a sharp rise in the cost of downstream raw materials, downstream actively looking for other alternative raw materials. The holder has a strong desire to lift the water, and the goods at a low price are difficult to make up for. Jinchuan nickel recent trading is also light, downstream difficult to bear high nickel prices, Jinchuan nickel shipment difficulties, rising water slightly down. The second trading session, although the nickel price has a correction, but the range is limited, the transaction continues in the morning. Jinchuan Company Shanghai quoted price of 119100 yuan / ton, up from yesterday, the mainstream transaction at 117700 to 119400 yuan / ton. In the afternoon nickel price returned to 118200 yuan near the shock, spot market procurement sentiment continued in the morning, the transaction is light, the holder Shengtianshui quotation is basically flat in the morning, the mainstream transaction at 117900 to 119500 yuan / ton.

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