Home / Metal News / Precious Metals / [SMM midday review] non-ferrous metals rose and fell, black was weak before noon, crude oil fell nearly 0.5 per cent in the previous period.
[SMM midday review] non-ferrous metals rose and fell, black was weak before noon, crude oil fell nearly 0.5 per cent in the previous period.
Oct 30,2019 11:50CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 30, this morning, the non-ferrous metals market rose and fell, including by noon, Shanghai aluminum rose 0.47%, Shanghai copper, Shanghai lead rose slightly, Shanghai zinc fell 0.31%.

In terms of copper, the monthly prosperity index of the copper industry rose month-on-month in September, while the monthly prosperity index of the medium-color copper industry was 26.6, up 0.6 points from the previous month. The monitoring results of the monthly prosperity index of the medium-color copper industry show that the prosperity index of the copper industry is running along the "normal" range. Taken together, although the copper industry sentiment index picked up slightly this month, but the supply of refined copper increased, and copper consumption power is insufficient. Affected by this, the pressure of industrial operation still exists. It is expected that the future copper industry boom index will still be in the "normal" range of low operation.

On the aluminum side, exports of aluminum plates and strips expanded in September on a month-on-month basis. Customs data show that in September 2019, China exported a total of 197100 tons of aluminum plate and strip products, down 9.7 percent from the previous month and 202 percent from the same period last year. From January to September this year, China's aluminum plate and strip exports totaled 2.01 million tons, down 3 percent from the same period last year.

On the nickel side, the global penetration rate of electric cars is expected to reach 10-12.5% by 2025, an increase of 2% over the current level, according to industry participants in 2019 LME week. DenisSharypin, director of market research at nickel giant NorilskNickel, said demand for raw materials for cobalt and nickel remained strong, indicating that demand from the battery industry remained relatively robust.

As for precious metals, according to the latest statistics from the China Gold Council, domestic raw material gold production was 275.35 tons in the first three quarters of 2019, down 14.40 tons from the same period in 2018, down 4.97 percent from the same period last year. In the first three quarters of 2019, the actual consumption of gold in the country was 768.31 tons, a decrease of 9.58 per cent compared with the same period in 2018. Domestic gold jewelry, gold bars, gold coins and industrial gold demand showed a downward trend.

Black, iron ore fell 1.04%, double coke, steel have a small decline. In terms of environmental protection, the Office of the leading Group for the Prevention and Control of Air pollution in Hebei Province recently issued the Circular on the initiation of Orange early warning and level II Emergency response to Regional double pollution Weather. During the period of emergency response, enterprises and projects included in the "positive list" of eco-environmental supervision should fully ensure normal production, while ensuring the effective operation of pollution prevention and control facilities and strictly implementing pollution prevention and control measures. Do not limit production, do not stop production, do not inspect, do not disturb, encourage enterprises to reduce emissions on their own. In addition, it is reported that between January and September 2019, Indonesian steel exports rose 28.86 percent from US $4.15 billion in the same period last year to US $5.35 billion, or equivalent to 75.07 trillion guilders. The increase in exports of steel products is due to the surge in exports of stainless steel.

Crude oil fell 0.48% before noon. Us crude oil stocks unexpectedly fell and gasoline stocks fell sharply last week, the American Petroleum Association (API) said on Tuesday. API said U.S. crude stocks fell 708000 barrels in the week ended Oct. 25, with analysts expecting an increase of 500000 barrels. Cushing crude stocks increased by 1.2 million barrels, compared with an increase of 2 million barrels the previous week. API reported that gasoline stocks fell by 4.7 million barrels last week, while analysts expect a drop of 2.2 million barrels. Distillate stocks fell by 1.6 million barrels, while analysts expected a drop of 2.35 million barrels.

As of 11:45, the new LME Metal Mini Futures quotation launched by the Hong Kong Stock Exchange shows:

Today's stock

Lead: Guangdong market South China lead 16675 yuan / ton, to SMM1# lead average price flat water quotation; South Storage and Mongolia from 16675 yuan / ton, to SMM1# lead average price flat water quotation (sent to South Reserve); lead price continues shock market, recycled lead maintains deep discount quotation, downstream still gives priority to buy recycled refined lead, primary lead market trading has been squeezed. Henan Yuguang, Wanyang and other smelters mainly to long single transaction; Jinli 16575 yuan / ton, the average price of SMM1# lead discount 100 yuan / ton quotation. Lead price weak shock, the holder is active shipment, by the recycled lead price impact, the primary market transaction is bleak. Other areas such as: southern Guangxi 16545 yuan / ton, the average price of SMM1# lead discount 130 yuan / ton; Hunan Shuikoushan 16575-16605 yuan / ton, the average price of SMM1# lead 70 to 100 yuan / ton (traders); Hunan Jingui 16525 yuan / ton, the average price of SMM1# lead 150 yuan / ton; Jiangxi copper 16675 yuan / ton, the average price of SMM1# lead; Yunnan Zhenxing and small factory quoted 16325-16375 yuan / ton, the average price of SMM1# lead discount 300-350 yuan / ton. Lead price shock operation, downstream consumption is light, the overall transaction is in the doldrums.

Zinc: the mainstream transaction of zinc ingots in Tianjin market was 19040-20430 yuan / ton, and that of ordinary brands was 19040-19180 / ton. The contract for 1911 rose by 0-80 yuan / ton, and the stock market in Tianjin expanded from flat water to 20 yuan / ton compared with Shanghai stock market. 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 0-80 yuan / ton to the 11 contract, and the quotation for the ordinary brand source is about 0-30 yuan / ton to the 11-liter water. Today, the disk is still continuing high volatility, the downstream willingness to buy is very weak, there are few transactions in the market, holders have no choice but to lower the rising water one after another, the supply of high-priced brands is gradually reduced from 80 yuan / ton to flat water for the 11 contract at the beginning of the session, and the ordinary brand is also down to about 50 yuan / ton for the 11 contract from the beginning of the market to even a small discount. Although the rise and decline is obvious, but in the disk high and environmental protection production restrictions continue to affect, the downstream buy Xing is still in the doldrums, the market transaction is extremely light. On the whole, the transaction today is once again worse than yesterday. Zi Zijin, Hongye, Bailing, Chi Hong, Xikuang, etc., were traded in the vicinity of 19040-19180 yuan / ton, while Zi Zijin, Chi Hong and Hongye were traded in 18990-19130 yuan / ton.

Guangdong zinc mainstream transaction in 1904019090 yuan / ton, the quotation is concentrated in Shanghai zinc 1912 contract discount 30-40 yuan / ton, Guangdong market than Shanghai stock market discount narrowed from 80 yuan / ton to 70 yuan / ton. Refinery shipments are normal, the market supply circulation is more abundant. In the morning, the quotation of the holder focused on the discount of 30 yuan / ton to the 12 contract, and some of the holders were willing to offer a strong offer, which was reported near 10 yuan / ton for the 12 contract, but few transactions were concluded. Entering the second trading period, the consignee is willing to receive about 40 yuan / ton on the 12 contract, and most of them are traders, and the shippers are still willing to offer 30 yuan / ton to the 12 contract. Due to the gradual dilution of orders in the downstream, the willingness to receive the goods is obviously worse, and the trading between traders is relatively deadlocked. Yi Qilin, Cishan, Tiefeng, Mengzi mainstream transactions in 1904019090 yuan / ton near.

< updating >

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