SMM8 12-month news: this morning non-ferrous metals rise and fall mutually, Shanghai nickel plummeted 5%, driven by the capital side of the market is often lack of stability, easy to surge and plummet. The black system fell sharply again, with ore supply easing expectations dominating market sentiment amid meagre profits at the end of the market, with iron ore 2001 contracts tumbling 5 per cent in intraday trading.
In terms of nickel market, SMM believes that in addition to rumors of a ban on mining in Indonesia, the closure of a high-nickel mine in the Philippines in October, stainless steel continues to maintain high production and other fundamental support, bulls full of confidence. However, it is vigilant that the output of the third series of a stainless steel plant in Indonesia will decrease, and the return of nickel pig iron will increase in the later period. Whether the actual fundamental situation can support the high nickel price; second, the financial level pays attention to whether the bulls are profitable or not. In view of the unconfirmed rumors of a ban on mining, and the late Indonesian return of ferronickel will make up for some of the domestic demand, from the nickel fundamentals, nickel prices continue to rise without strong momentum, nickel prices are expected to be high and wide fluctuations.
Black system, iron ore fell nearly 5%, hot roll rebounded at the key price, rose 0.33%, coke high stable, coke rebound 0.23%, reported 1972.5; news, it is reported that yesterday, Shaanxi, Shanxi, Gansu and Sichuan steel mills (Liheng, Jianbang, Hongda, Jianlong, Shaanxi Steel, etc.) for the current market, held an internal coordination meeting. It was decided to take the lead in limiting production and reducing output, which played an exemplary role for the majority of steel mills. Liheng decided to stop two blast furnaces, affecting the daily output of 6000 tons, reducing the daily output by half. The building of the state is limited to 1 blast furnace, affecting the daily output of 3000 tons, affecting the daily average of 1/3. Jianlong scrap steel addition proportion reduced by 30%, other steel mills are also in the coordination of production restrictions. Jianlong 3000 tons, Hongda 1500 tons and so on. "check the details of Shaanxi, Shanxi, Gansu and Sichuan steel mills in view of the current market to take the lead in reducing production!
Crude oil rose nearly 1.93% in the previous period, mainly due to production cuts in Saudi Arabia and a decline in drilling in the United States. Despite strong customer demand, Saudi Arabia plans to limit crude oil exports to less than 7 million barrels a day in August and September to help digest global oil stocks and rebalance the market, according to a report. In addition, the decline in the number of crude oil drills announced by the United States on Friday also led to a rebound in oil prices. Us oil exploration companies, which have been urged by investors to cut spending, have idled drilling rigs for the sixth week in a row, according to data provided by Baker Hughes on Friday. The number of oil rigs fell by six to 764 last week, the lowest since January 2018.
Spot today:
Copper: today, the spot price of electrolytic copper in Shanghai is 30 ~ 70 yuan / ton, the transaction price of flat water copper is 46510 yuan / ton ~ 46590 yuan / ton, and the transaction price of copper is 46530 yuan / ton ~ 46610 yuan / ton. Shanghai copper around 46500 yuan / ton first-line shock finishing. Inventory increased, the holder is eager to change, Monday quotation shows a downward trend, early market quotation 50 ~ 70 yuan / ton, difficult to close, the holder took the initiative to reduce the water quotation in order to close the deal, flat copper was the first to fall to 30 ~ 40 yuan / ton, the transaction slightly improved, good copper water 60 yuan / ton, there is room for pressure; The supply of wet copper is still on the low side, the price is about 10 yuan / ton, and there is little price difference between wet copper and flat copper. The supply of goods in the market is gradually increasing, downstream consumption is not strong, traders have little room for trade profits, the source of goods is difficult to digest, and transactions gradually highlight the characteristics of oversupply.
Aluminum: aluminum futures in the first trading phase of the month performance volatility, the second trading range began to pull up. In the morning, some traders in the Wuxi market in Shanghai traded around 13940 yuan per ton, rising water by 30 yuan per ton on the plate. With the rise in aluminum prices, the quoted prices of the two places began to rise, starting to focus on 13970 to 13980 yuan per ton, and the rising water on the plate was 20 to 30 yuan per ton, up 30 yuan per ton from last Friday. The morning holder shipment is OK, with the aluminum futures rise, the market wait-and-see mood rises again, because the future market is optimistic, the holder begins to cherish the sale to push up the price, the shipment converges, but the middleman receiving the goods enthusiasm is obviously high, begins to receive the goods actively, the market performance is more and less, the actual transaction is poor. Because the carrier ships less, and the downstream is also afraid of high, the purchase is not much. Today, the overall transaction in East China is poor.
Lead: today, the mainstream quotation for reduced lead in China is 15100 yuan to 15300 yuan per ton. Shanghai lead pressure in the seven integer gate shock, waste battery prices are slightly increased; the reduction of lead market temporary continuation of last week's market, quotation with the market; and renewable lead market, due to downstream storage fear of high mining, as well as consumer reflux electrolytic lead, some areas (such as Henan, Anhui) discount price extended to the average price of SMM1# lead paste 100 factory.
Guangdong market Nanhua lead 16900 yuan / ton, the average price of SMM1# lead water 50 yuan / ton quotation; southern 16840 yuan / ton, 1909 contract discount 100 yuan / ton. Lead prices are strong, market procurement is very cautious, trading tends to be light.
Henan Yuguang and other smelters mainly to long single transaction; Wanyang, Jinli 16820 to 16850 yuan / ton, the average price of SMM1# lead discount 30 yuan / ton to flat water quotation; lead prices continue to rise, downstream procurement tends to be cautious, market trading is relatively light.
Other areas such as: Guangxi Hechi south 16700 yuan / ton, SMM1# lead average price discount 150yuan / ton; Hunan Shuikoushan 16850 yuan / ton, SMM1# lead average price equal water quotation (trader source); Jiangxi copper 16900 yuan / ton, to SMM1# lead average price rise water 50 yuan / ton quotation; Yunnan area small factory quoted 16500 yuan / ton, SMM1# lead average price discount 350yuan / ton; lead price fluctuation is strong, storage enterprises procurement is more cautious, market trading is poor. The price of lead is strong, the average price of SMM1# lead is 16700 yuan / ton, Hunan Shuikoushan 16850 yuan / ton, the average price of SMM1# lead is 50 yuan / ton, Yunnan small factory quoted 16500 yuan / ton, the average price of SMM1# lead is 350yuan / ton.
Zinc: Shanghai 0 # zinc mainstream transaction 18735 yuan / ton, Shuangyan transaction 18745 yuan / ton; 0 # zinc ordinary September water rise 200 yuan 210 yuan / ton; Shuangyan September water rise 210220 yuan / ton; 1 # mainstream transaction 18665 18695 yuan / ton. The Shanghai Zinc 1909 contract ran at 18545 yuan in the morning and closed at 18565 yuan per ton in the morning market. In the first trading period in the morning, at the beginning of the day, the mainstream price of ordinary zinc quoted by traders increased 190 yuan per ton on the 1909 contract, and the mood of traders and downstream recipients was better. After that, the spot rising water of the holder quickly increased by 10 yuan per ton to 200 to 210 yuan per ton. Entering the second trading period, the holder spot ordinary zinc to maintain a stable price of 200,210 yuan / ton, the spot water rise is high, and some traders are worried about whether the rising water is sustainable. Therefore, after receiving the goods, the traders mainly transfer the downstream long order, and there are fewer stocks in Tun. On the whole, the Shanghai stock market continues the better trading atmosphere today, and the mood of replenishment around 18500 yuan / ton downstream is better. In the future, we will continue to pay attention to the price difference between Guangdong and Shanghai.
Nickel: Russia and nickel than Shanghai nickel 1909 discount of about 300 yuan / ton, early trading hours, Jinchuan nickel than Shanghai nickel 1909 contract generally reported 800 to 1200 yuan / ton. Some of them hold Jinchuan old goods traders reported rising water 500 yuan / ton, the normal Jinchuan source reported rising water more than 1000 yuan / ton. After the rally this morning, it fell back, fluctuating in a narrow range around 126000, and then plummeted to around 122500. Spot transactions are flat, basically in a priceless state. In the second trading session, Shanghai nickel continued to fall after a brief consolidation, to around 118900 after temporary stability, trading improved slightly earlier, but the overall is still not optimistic. Today, the market fell sharply, Russian nickel sticker to maintain stability, Jinchuan nickel higher, the basic report rising water around 1500 yuan / ton. Jinchuan Shanghai quoted price of 122000 yuan / ton, down 5000 yuan / ton from Friday, the mainstream transaction at 1197-122000 yuan / ton.
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