Home / Metal News / Precious Metals / [SMM midday review] Indonesia limited Shanghai nickel rose 2.19% non-ferrous metals mutual rise and fall iron ore continued to fall nearly 1.2%
[SMM midday review] Indonesia limited Shanghai nickel rose 2.19% non-ferrous metals mutual rise and fall iron ore continued to fall nearly 1.2%
Oct 29,2019 12:02CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 29 / PRNewswire-Asianet / the non-ferrous metals market rose and fell this morning, including Shanghai nickel up 2.19%, Shanghai zinc up 0.66%, Shanghai tin slightly red, Shanghai copper, Shanghai aluminum, Shanghai lead slightly down. The LME Metals Symposium, the annual London Metal Exchange's year-end drama, brings together metal industry participants from around the world to discuss the current situation of the metals market and look forward to the future. Welcome to the report from the front line. "[LME Week] LME main venue: looking at the views of major investment banks, LME presidents, etc.

Among them, according to SMM research, Indonesia began to inspect the export of nickel mines on the evening of October 28, mainly aimed at: 1. The actual loading grade of nickel ore exceeds 1.7%; 2. Mines without export quotas ship goods with the help of other quotas. Once a violation is found, the ship is seized. "what is the actual impact of sudden inspection of nickel mines in Indonesia?

According to the official determination of the China Seismological Network, an earthquake of magnitude 6.6 occurred on the Philippine island of Mindanao (6.80 degrees north latitude and 125.15 degrees east longitude) at 09:04 Beijing time on October 29, with a focal depth of 10 km. Cobalt, lithium and nickel ores are not affected.

On the copper side, Shanghai copper fell 0.21% this morning, while international news that many departments in Chile joined the strike in solidarity with the protests. After a week-long national port strike, the Chilean Port Workers' Union announced that the main port docks in Chile will be shut down for two days from October 29 to 30. In addition, the Escondida Copper Mine Union said it would strike for half a day on October 29 in support of the protests.

On the precious metals front, palladium hit $1800 an ounce for the first time in its history yesterday, continuing a record rally triggered by a clear shortage of supply, while gold fell nearly 1 per cent as optimism over a trade deal between China and the US pushed stocks to new highs. Palladium recently rose 2.1 per cent to $1800.84 an ounce after hitting a record high of $1808.81 earlier.

Black, iron ore down 1.18%, coke down 0.62%, coking coal, thread rose slightly. China has cut steel production capacity by more than 150 million tons since 2016, or 114 per cent of the global steel production cut, according to the China Iron and Steel Association. To this end, China alone has 280000 steel workers, more than the total number of steel workers in the United States, Europe and Japan. At present, the situation of China's steel market has improved significantly, and the utilization rate of crude steel production capacity has returned to a reasonable range of more than 80%.

Crude oil rose 0.24% by noon. The Saudi news agency says Saudi Arabia and the United States will work together to maintain global energy security. Saudi Energy Minister Prince AbdulazizbinSalman and US Energy Secretary RickPerry met in Riyadh on Monday to work together to secure global energy supplies. The two sides discussed the situation of the oil market, the role of OPEC and non-OPEC oil-producing countries in regulating oil production and stabilizing the oil market, and the threats to oil facilities in the Gulf region. The Saudi energy minister stressed that Saudi Arabia is a reliable supplier of crude oil to stabilize the oil market and is committed to sustained oil supply.

As of 11:58, the new LME Metal Mini Futures quotation launched by the Hong Kong Stock Exchange shows:

Today's stock

Copper: today, Shanghai electrolytic copper spot contract for the current month contract Pingshui ~ Shengshui 20 yuan / ton, Pingshui copper transaction price 47320 yuan / ton ~ 47360 yuan / ton, Shengshui copper transaction price 47330 yuan / ton ~ 47370 yuan / ton. Shanghai copper shock in the first line of 47300 yuan / ton. The holder quite rises the water mood is still in, the market inquiry enthusiasm is high, the morning market quotation flat water ~ rises the water 20 yuan / ton. There is little difference between the quotation and yesterday, but the transaction holds the wait-and-see situation, a small amount of flat water copper can press the price, the flat water copper depresses the price to the discount 10 yuan / ton transaction performance is better, but soon is closed, the latter quotation maintains in the flat water ~ lifts the water 10 yuan / ton, the good copper may press the price space is not big, maintains stable in the rising water 10 ~ 20 yuan / ton range; Copper futures prices are still high, downstream to maintain on-demand procurement, wet copper to maintain stability in yesterday's discount 40 ~ 30 yuan / ton. The accumulated inventory after National Day is gradually digested. Since last week, the import window has been closed, and the import loss has reached about 400 yuan this week. The overall supply of the market will not be too loose in the near future. Traders intend to discount the goods at a low price, but due to the holder's reluctance to sell goods, the willingness to change lines is low, but it is difficult to lift the water space at the end of the month, resulting in difficult prices to get rid of the zipper state. The volume of goods received today is still hesitant, but the holder is also reluctant to lower the price of rising water, trading performance is average, today's market performance of supply and demand stalemate zipsaw characteristics.

Lead: 16755 yuan / ton Jinsha lead in Shanghai market, 20 yuan / ton discount to 1911 contract, 16745-16755 yuan / ton South, Mu Run lead 16745-16755 yuan / ton, 30-20 yuan / ton discount to 1911 contract, of which white goods can be discounted 5040 yuan / ton. Period lead high dive, the holder maintains the discount quotation, but the downstream market demand is low, in addition, the recycled lead and the primary lead price difference is big, the trading market trading activity is poor.

Zinc: the mainstream transaction of zinc in Shanghai was 19130-19190 yuan / ton, and that of Shuangyan was 19120-19200 yuan / ton; that of zinc was 50-70 yuan / ton in November; that of Shuangyan was 60 yuan / ton in November; that of zinc was 19050-19130 yuan / ton in November. Shanghai Zinc 1911 continued the high shock, the first trading session in the morning closed at 19115 yuan / ton. In the first trading period, the morning holder quotes 70 yuan / ton to the 1911 contract, the market mainstream quotes to the SMM net average price is flat, but the transaction is few, the spot rising water is reduced to 1911 liters 60 yuan / ton, some cardholders to the SMM net average price discount 5-10 yuan / ton quotation; In the second trading session, zinc prices continued to be strong. At the beginning of the session, the holder further lowered the price of rising water to 50 yuan / ton for the 1911 contract, and the enthusiasm of the market for receiving goods was enhanced, which led to the stabilization of spot rising and falling water, and finally reported 60 yuan / ton to the 1911 contract. Zinc prices continue to be strong, SMM0# zinc prices rose 400 yuan / ton in two days, the downstream fear of high cautious mining, mostly wait-and-see, the trade market is more worried about rising water further downward, spot high water mining buy downturn, but in the spot water 50 yuan / ton procurement enthusiasm can be, in the afternoon to further pay attention to Shanghai spot water changes.

Guangdong zinc mainstream transaction in 1909019140 yuan / ton, the offer is concentrated in Shanghai zinc 1912 contract discount 30-40 yuan / ton, Guangdong market than Shanghai stock market discount maintained at 80 yuan / ton yesterday. Refinery shipments are normal, the market supply circulation is more abundant. In the morning, the quotation of the cardholder focused on the discount of 30 yuan / ton to the 12 contract, but the consignee was willing to receive the goods at the discount of 40 yuan / ton on the 12 contract, the transaction was more divided, and the overall transaction situation was slightly deadlocked. Entering the second trading period, the market quotation is concentrated in the discount of 40 yuan / ton to the 12 contract, the superposition disk surface goes down rapidly, the market transaction is better, most of them are traders, and the willingness to buy downstream is relatively limited. The overall transaction was basically flat compared with yesterday. Yi Qilin, Cishan, Tiefeng, Mengzi mainstream transactions in 1909019140 yuan / ton near.

The mainstream transaction of zinc ingots in Tianjin market was 19110-20500 yuan / ton, and that of ordinary brands was 191101920 / ton. The rising water of 1911 contract was about 0-80 yuan / ton, and the rising water of Tianjin market was narrowed from 40 yuan / ton to Pingshui. Refinery shipments are normal today. In the market, the circulation of goods still tends to be loose. The quotation of the high-priced brand source is concentrated in the vicinity of 20-80 yuan / ton to the 11 contract, and the quotation for the ordinary brand source is about 0-50 yuan / ton to the 11-liter water. Today, the disk high shock, the downstream buy little, the holder saw the trend to take the initiative to lower the rising water, the supply of high-priced brands from the beginning of the 11 contract price of 80 yuan / ton gradually reduced to 20 yuan / ton, ordinary brands also from the beginning of the 11 contract price of about 50 yuan / ton down to flat water. However, the disk high shock hit the downstream enthusiasm for taking goods, even if rising water down is also difficult to boost the willingness to buy, on the whole, today's transaction is worse than yesterday. Zi Zijin, Red Ye, Bailing, Chi Hong, Xikuang and other transactions in 19110-19220 yuan / ton, Zi Zijin, Chi Hong, Hongye and other transactions in 19060-19170 yuan / ton.

Nickel: today Russia nickel than Shanghai nickel 1911 discount 1911 to discount 300, Jinchuan nickel than Shanghai nickel 1911 contract general discount 1911 to 1911 yuan / ton, the discount is slightly larger than yesterday. First, because the Shanghai Nickel 1911 and Shanghai Nickel 1912 contracts are still large, about 3000 yuan / ton, the holders have postponed the backward movement of the contract, try to point the price on the Shanghai Nickel contract 1911, and second, the price has rebounded, the transaction is relatively weak, and the market demand is on the low side. In the morning, Shanghai nickel rebounded after a brief consolidation around 136000, once high in the middle near 140000, although the holder actively shipped, but the actual demand is weak, the transaction is general. The ex-factory price of Jinchuan Company is 137600 yuan / ton, 2100 yuan / ton higher than yesterday.

< updating >

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