[SMM afternoon Review] the strong performance of Shanghai nickel, Shanghai aluminum and Shanghai lead is worthy of special attention.

SMM8 16 news: by noon close, most of the domestic non-ferrous metals rose, Shanghai nickel rose 2.8%, Shanghai lead rose 1%, Shanghai aluminum rose 0.1%, the three disk performance is relatively strong, worthy of attention. At the macro level, the head of tariffs and taxation at the State Council said China had to take countermeasures against the increase in tariffs on the United States. Yangguang International said that China's counter-measures will do what they say and resolutely safeguard their own interests. This led to a resurgence of risk aversion, although the improved US retail sales data eased risk aversion overnight.

Shanghai aluminum, because of the stormy weather led to the rise in aluminum prices. Although the weather speculation factor retreated, Shanghai aluminum position is high, indicating that the degree of capital attention is very high, so whether the price is finally up or down, it is easy to break out large price fluctuations, so it is worth paying attention to. At present, the global aluminum inventory is in the process of continuous decline, there is the possibility of capital speculation; on the other hand, alumina prices are low, real estate data are not good, demand has not improved significantly for the time being. Both sides have the logic of game.

On the nickel side, the overall supply of nickel ore is in a state of tight balance, coupled with the possible ban on mining in Indonesia, a big exporter of nickel ore, resulting in continued strong prices. At present, the nickel plate inventory is low, stainless steel production schedule is also high, the follow-up trend depends on the offensive willingness of the bulls.

According to the (SMM) survey of Shanghai Nonferrous Network, the operating rate of galvanized enterprises in July was 81.03%, up 4.59% from the previous month and 2.69% from the same period last year. According to the enterprise production plan, the galvanizing start-up rate is expected to be 81.01% in August, down 0.02% from the previous month and 0.77% from the same period last year. "View detail

The SMM survey also showed that in July 2019, the operating rate of zinc oxide enterprises was 48.01%, a decrease of 1.97% from the previous month, and 3.36% lower than that of the same period last year. In August, zinc oxide production is expected to continue in the off-season, according to the enterprise's production plan, the zinc oxide start-up rate is expected to fall to 46.81% month-on-month in August. This survey of nearly 30 zinc oxide enterprises, the SMM survey sample capacity of 518600 tons, mainly concentrated in Jiangsu, Shandong, Hebei, Shanghai, Liaoning and other places. In July, zinc oxide enterprises fell significantly from the previous month, and there was also a big drop from last year.

The head of BHP Billiton Nickel West said more and more electric cars would soar demand for nickel. The main reason is that the battery is getting bigger and bigger in order to improve the mileage and performance of the car. And the increase of nickel in the chemical composition of the battery increases the energy density, which makes the battery performance better and the cost lower.

On the black side, it remained volatile in a narrow range and the market needed to absorb the recent decline after the Tai Fook fall. Total inventory of thread and hot coil fell this week, easing the pressure on prices caused by the accumulation of inventories, but prices need more positive stimulus if they want to move upward.

Vale said it announced a temporary shutdown of the newly acquired Ferrous Resources Do Brasil plant because the situation was "inconsistent" with the contents of the document. The shutdown will not affect the operation of the Viga mine. The documentation issue has nothing to do with the local mines and dams, nor with any of the company's operations.

Spot today:

Copper: today, the spot price of electrolytic copper in Shanghai is 20 ~ 70 yuan / ton, the transaction price of flat water copper is 46380 yuan / ton ~ 46510 yuan / ton, and the transaction price of copper is 46410 yuan / ton ~ 46540 yuan / ton. Shanghai copper opened low and high above 46400 yuan / ton. The first day after the month, the market quotation is still firm and pushed up, the holder quoted the price of copper water 20, good copper water 40 50 yuan / ton, following yesterday's discount from a large number of receiving atmosphere has been extended to today, low rising water to buy actively, traders lead the market transaction, the morning market activity is high, a round of receiving goods led to a rapid increase in the quotation to Pingshui copper water 30 40 yuan / ton, good copper water 60 ~ 70 yuan / ton. In the second trading session, copper futures rose, transaction conditions were temporarily suppressed, and there was a slight stalemate in the range from 40 yuan / ton to 70 yuan. Today, the enthusiasm of some downstream to replenish goods is led by traders. Wet copper has been raised to 10 to 20 yuan / ton in the morning market since the morning market, and there is no discount supply in the market. On the first day of the month, the overall transaction continued to improve, the delivery of long orders gradually opened, the willingness of the holder to raise the price was strong, and the spot quotation was low and high.

Aluminum: early afternoon aluminum shock consolidation, today's Guangdong transaction prices concentrated in 14240 14250 tons, Guangdong and Shanghai price difference slightly reduced to 10 yuan / ton. Today, traders are more active, middlemen are willing to receive goods, but only a small number of local downstream procurement for the weekend, more price performance wait-and-see. On the whole, the spot trading of aluminum ingots in South China today is dominated by traders, and the transaction is general.

Lead: Guangdong market Nanhua lead 16675 yuan / ton, to SMM1# lead average price rises 50 yuan / ton quotation; from 16625 yuan / ton, to SMM1# lead average price level water quotation; lead price continues high consolidation, downstream purchase on demand, market trading is general.

Henan Yuguang and other smelters are mainly long single transaction; Jinli 16525 to 16575 yuan / ton, the average price of SMM1# lead discount 50 yuan / ton to 100 yuan / ton; lead price high consolidation, downstream buy on demand, market trading is general.

Other areas such as: Hunan Shuikoushan 16625 yuan / ton, SMM1# lead average price flat water quotation (traders supply); Jiangxi copper 16625 yuan / ton, SMM1# lead average price equal water quotation; Yunnan area small factory quoted 16325 yuan / ton, SMM1# lead average price discount 300yuan / ton; lead price concussion, the holder actively ships, the market transaction is general.

Zinc: Guangdong 0 # zinc mainstream transaction in 1858 1868 80 yuan / ton, Shanghai zinc 1909 contract discount 30 to 40 yuan / ton, Guangdong market than Shanghai market yesterday discount 200 yuan / ton narrowed to discount 150 yuan / ton. Refinery normal shipment, but part of the source of goods sent to East China, resulting in a slight tightening of the circulation of supplies in Guangdong. In the morning, the quotation of the holder focused on around 30 yuan / ton of the 09 contract. Some transactions were made in the market. In the second trading period, some of the holders actively shipped the goods and adjusted the discount of 40 yuan / ton to the 09 contract. However, when the market level rose, the sticker water still did not have a significant boost to the market. Today, the trading atmosphere of the traders was relatively warm, and the willingness to receive goods downstream was still not good. On the whole, the market was pulled up, and the sticker water was still not significantly boosted. Today, the trading atmosphere was relatively warm, and the willingness to pick up the goods downstream was still not good. The trading situation in Guangdong today is slightly better than that of yesterday. 0# Kirin, Cishan, Tiefeng and Mengzi mainstream were sold at about 1858 yuan / ton.

Nickel: Russia and nickel than Shanghai nickel 1909 discount 300 to paste 250yuan / ton, Jinchuan nickel than Shanghai nickel 1909 contract generally reported water 800 / ton. Russian nickel discount nearly half a month to maintain stability, although the trading is not optimistic, but the holder continues to push up the discount, low-cost goods are difficult to receive. Jinchuan rising water continues to weaken, mainly because some old goods squeeze out the market demand, superimposed nickel price high shock, downstream fear of high purchasing sentiment is strong, some traders have a small amount of replenishment Jinchuan. This morning nickel prices continued last night strong trend, early trading hours basically around the 126000 shock, the spot market continued pessimistic atmosphere, trading and its light. In the second trading session, Shanghai nickel shock rose slightly, downstream continued to wait and see, high nickel prices led to downstream search for other alternative raw materials, demand continued to weaken. The Shanghai ex-factory price of Jinchuan Company is 127000 yuan / ton, 3000 yuan / ton higher than yesterday, and the mainstream transaction is 126100-127400 yuan / ton.

Tin: spot market, today's Shanghai tin spot mainstream transaction price of 133800 to 135000 yuan / ton, there is a low price of 133500 yuan / ton in the morning market. The buying of downstream enterprises is relatively weak today, and the overall transaction atmosphere in the Shanghai-tin spot market is weak. Shanghai tin 1909 contract set Yunxi rising water 1200 yuan / ton, ordinary cloud character rising water 500 yuan / ton, small brand rising water 1200 yuan / ton.

Click to sign up for this summit

"Click to sign up for this summit

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business