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[SMM Daily Review] non-ferrous metals rose and fell, Shanghai nickel soared, black series continued to rise, crude oil rose slightly in the previous period.
Oct 23,2019 12:01CST
The content below was translated by Tencent automatically for reference.

SMM, Oct. 23 / PRNewswire-FirstCall-Asianet / this morning, the non-ferrous metals market rose and fell interchangeably, including Shanghai nickel rose 3.11% at noon, Shanghai tin, Shanghai aluminum also rose slightly to varying degrees, Shanghai lead fell 0.95%, Shanghai zinc fell 0.71%, and Shanghai copper fell 0.28%.

On the copper side, the leader of the (Codelco) trade union, the Chilean state copper company, said on Tuesday that its workers would join a general strike scheduled for Wednesday in support of the Chilean protests. Codelco is the world's largest copper producer. The Union of Copper Workers, (FTC), agreed to join strikes in other sectors, including teachers and public employees. On Tuesday, operations at the Eskondida (Escondida) copper mine, owned by BHP Billiton, were partially paralyzed in support of the protests.

Nickel, Shanghai nickel before noon with the night trend, high shock. (Norilsk Nickel), Russia's Norilsk nickel company, said yesterday that at least three people had been killed in an accident at its Taimyr mine in western Leia. As soon as the news came out, it caused the market to worry about the supply side, waiting for the news to ferment in the afternoon to see how the market reacted.

On aluminum, the Commerce Department said in an email statement that Chinese exporters sold aluminum wires and cables in the United States below fair value and received subsidies, resulting in countervailing duties. The Ministry of Commerce is in Encore Wire Corp.. And Southwire Co. Taking action after making a request.

The black department continues to rise. Iron ore rose 1.71 per cent and bifocal rose more than 1 per cent. Futures Daily said that although spot prices fell synchronously in the near future, the current iron ore 2001 contract spread is still maintained at about 20% of the 2001 contract. This means that by the time the 2001 contract is delivered, if the spot returns to the futures, the spot will fall by at least more than 15 per cent. At present, the price of rebar and hot coil has fallen sharply, and the base spread is also widening rapidly. In general, after entering the off-season of consumption, steel prices stabilized and rebounded. Therefore, if the price of rebar stabilizes and recovers after November, the strength of the recovery of iron ore in the case of a huge base difference as a safety pad may be the greatest in the black plate.

Crude oil rose 0.09% in the previous period. India's crude oil production fell 5.4 per cent to about 2.65 million tonnes in September from a year earlier, while natural gas production fell 4.3 per cent to 2.57 billion cubic metres, according to provisional data released by the Indian government on Tuesday. Indian refiners processed 19.41 million tons of crude oil in September, down 6.9 per cent.

As of 11:50, the new LME Metal Mini Futures quotation launched by the Hong Kong Stock Exchange shows:

Today's stock

Aluminum: aluminum in the month before noon to maintain a narrow range of concussion. Shanghai Wuxi market spot quotation concentrated in 13940-13960 yuan / ton, spot price increased by 20 yuan / ton compared with yesterday, the price rose 90-110 yuan / ton, next month and the monthly ticket price difference of less than 20 yuan / ton, Hangzhou area spot price of 13950-13960 yuan / ton. Today, the holders are relatively high prices, shipments are not much, and middlemen still show a positive willingness to receive goods, under the circumstances of less and more spot rising water continues to rise, and even reached around 110 yuan / ton (the last time the water rose more than 100 this year was the VAT reform at the end of March). The rising spot water is mainly due to the tight supply of electrolytic aluminum inventory in the market under the background of continuing to go to the warehouse, and the VAT system will be shut down at the end of the month, and there will be a shortage of invoices at the end of the month. This has further strengthened the mentality of the cardholders in cherishing the sale. Today, the trading stalemate between the buyers and sellers of the traders is mediocre. Downstream manufacturers today on-demand goods, but under the background of high water fear is obvious, the willingness to receive goods is not strong. The overall transaction in East China was normal today.

Zinc: the mainstream transaction of zinc ingots in Tianjin market was 18840-20260 yuan / ton, the mainstream transaction of ordinary brands was 18840-18940 / ton, the 1911 contract rose 70-150 yuan / ton, and the rising water in Tianjin market increased slightly from 10 yuan / ton to 20 yuan / ton. Refinery shipments are normal today. In the market, the circulation of goods tends to be loose. The quotation of high-priced brand source is concentrated in the vicinity of 120-150 yuan / ton for 11 contract, and the quotation for ordinary brand source is about 70110 yuan / ton for 11-liter water. The decline of the disk is more obvious than yesterday, and the shippers' willingness to ship is stronger and take the initiative to lower the rising water. However, the downstream of Hebei Province may be more cautious due to environmental restrictions, and the willingness to buy is still on the low side under the double boost of the downgoing of the disk and the decline of rising water. Overall, today's deal continues yesterday's light trend. Zi Zijin, Hongye, Bailing, Chi Hong, Xikuang, etc., were traded near 18840-18940 yuan / ton, and Zi Zijin, Chi Hong and Hongye were traded at 18790-18890 yuan / ton.

Guangdong zinc mainstream transaction in 18720-18820 yuan / ton, the quotation is concentrated in Shanghai zinc 1912 contract discount 30-10 yuan / ton, Guangdong market than Shanghai stock market discount expanded from 120 yuan / ton to 130 yuan / ton. Refinery shipments are normal, the market supply circulation is more abundant. In the morning, the holder quotes, and the monthly ticket is concentrated near the flat water of the 12 contract; Next month ticket concentrated in the 12 contract discount 10-20 yuan / ton near, entered the second trading session, the trader quotation concentrates on the 12 contract discount 20-30 yuan / ton disk to fall, the trader is willing to stand up the price is strong, but failed to insist, the downstream wait-and-see mood is strong, mostly to inquire, the demand for monthly ticket between traders is better, the overall transaction is mainly contributed by traders. The atmosphere of the deal is a little worse than yesterday. Yi Qilin, Cishan, Tiefeng, Mengzi mainstream transactions in 18720-18820 yuan / ton near.

Shanghai zinc mainstream transaction in 18880-18920 yuan / ton, Shuangyan transaction in 18880-18920 yuan / ton; SMC mainstream transaction in 18880-18910 yuan / ton; India mainstream transaction 18860-18890 yuan / ton. SMC reported 110-120 yuan / ton of water in November, 110-120 yuan / ton in November and 90 yuan / ton in November. The mainstream transaction was 18810-18850 yuan / ton. Shanghai zinc 1911 low shock operation, the morning market closed at 18780 yuan / ton. Near the tax upgrade invoice deadline, and this month long order final settlement date is approaching, the market quotation moves to next month ticket quotation one after another. In the morning, the market quotes 120-130 yuan / ton for the November monthly ticket, 110-120 yuan for the next monthly ticket, 10-15 yuan / ton for the net price, and about 10 yuan / ton for the bill price. Due to the bill problem, most of the long single transaction this month has been completed, so next month the bill supply selling pressure, into the second trading period, the general November quotation down to 100-110 yuan / ton. Rumor has it that some of Ningbo's imported KZ and AZ goods have arrived, but after the disk price has gone down, the mood of receiving goods downstream is good, and the mood of picking and buying is still good. Overall, today's spot market trading is OK, downstream buying mood is still good.

Tin: in the spot market, the price of tin in Shanghai rose about 600 yuan / ton from early trading to midday trading, but affected by weak demand downstream, the spot price rose slightly. The mainstream trading price in the morning was 137000-139500 yuan / ton. There is a low price source near 136000-136500 yuan / ton in the market. Prices for smelters remained strong and actual shipments at most refineries were weak. Some traders in Shanghai have access to the spot in a small number of bargains, while downstream enterprises have maintained a weak state of buying, and have a strong wait-and-see mentality. Today, only a small number of enterprises purchase on demand. Shanghai tin spot market overall transaction atmosphere is light. The Shanghai period tin 2001 contract sets the cloud tin to raise the water 700 yuan / ton, the ordinary cloud word discount 300 yuan / ton, the small brand discount 6001000 yuan / ton.

Nickel: today, Russian nickel is 150 yuan / ton higher than Shanghai Nickel 1911, and Jinchuan Nickel is 200-400 yuan / ton higher than Shanghai Nickel 1911 contract. Russian nickel Jinchuan rising water continues to decline, mainly due to the recent Shanghai nickel and Wuxi nickel price difference, stimulate steel mills have no tin plate to purchase nickel beans, nickel plate demand has been significantly suppressed. As the price gap between the two markets is still large, this phenomenon is expected to continue in the near future, mainstream traders are quoted for Shanghai nickel, Shanghai spot market trading is very light. Superimposed nickel prices due to last night's Norilsk nickel industry accident rebounded, although there is a decline today, but the overall increase is still large, restraining spot trading. The ex-factory price of Jinchuan Company is 131900 yuan / ton, 2400 yuan / ton higher than yesterday.

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