[SMM midday review] Nonferrous majority rose Shanghai nickel rose 0.2% ferrous metal high open low iron ore fell 0.3%

SMM12 March 13, most of the non-ferrous metals market this morning, Shanghai copper closed flat before noon, before LME copper rose to $6216 / ton, hitting a high since May 8 this year. Shanghai nickel also rose 0.2% in the morning, as of today has been "four consecutive gains." Although it has almost recovered its decline at the beginning of the month, it is in the second half of this year. As of yesterday, LME nickel had written off warehouse receipts for four consecutive days to 20022 tonnes, with write-offs accelerating to 16.4 per cent. Warehouse receipts rose sharply in a row, surging 34800 tonnes, or 51.7 per cent, to 102036 tonnes yesterday. As a result of the rapid rise in registration receipts, LME nickel stocks soared to 122058 tons, a high of more than two months, but there was no obvious response, waiting for future performance.

The black series is generally green in the morning, and the thread hot rolls have fallen slightly. Iron ore opened high and low down 0.31%, bifocal or down. In terms of spot steel, the latest price adjustment documents for Angang in January next year show that hot-rolled, cold-rolled and other products will be raised by 100-150 yuan / ton, and thread: the base price will be raised by 100 yuan / ton. "[SMM Express] Angang Announces Product Price Policy Adjustment Policy for January 2020

Crude oil rose 0.41% in the previous period. Oil prices expanded on Friday as the United States and China came close to reaching an agreement on a trade dispute. The dispute has raised concerns about global demand for crude oil. Brent crude oil futures rose 0.69% to $64.64 a barrel at 11: 00 Beijing time. Us crude oil futures rose 0.54 per cent to $59.50 a barrel. While a trade deal would eliminate uncertainty and stimulate short-term oil demand, concerns about demand linger against a backdrop of abundant supply in the future.

By 11:30

As of 11:50, HKEx had added US dollar-denominated small metal contracts:

Today's stock

Zinc: Guangdong zinc mainstream transaction in 18330-18400 yuan / ton, the quotation concentrated in Shanghai zinc 2001 contract rose 190-200 yuan / ton, Guangdong market than Shanghai stock market discount expanded from 170 yuan / ton yesterday to 180 yuan / ton. As delivery approaches today, the trading market is very active. In the morning, the quotation of the holder is near the flat water of the contract, the shipment is very smooth, the consignee is actively rushing to deliver the goods, the circulation of goods in the market is scarce, and the holder is in the position to raise the price to 10-20 yuan / ton for the December contract, and 200 yuan / ton for the January contract. Enter the second trading period, the market transaction is basically stable in the month flat to 10 yuan / ton, the trade market is still more active, superimposed downstream every weekend also has a certain need to buy goods, overall, the spot market trading is active today, significantly better than yesterday. Yi Qilin, Cishan, Tiefeng, Mengzi mainstream transactions in 18330-18400 yuan / ton near.

Ningbo Hualian, Yongchang, Huize and other transactions in 18600-18650 yuan / ton, Hualian, Yongchang, Huize reported 450-470 yuan / ton in January. In the first trading period, the zinc price fluctuated at the beginning of the session, and the holder kept the water rising. In January, the price of zinc rose by 450 yuan / ton, and the willingness to receive goods downstream was poor, and there were few transactions. In the second trading period, the zinc price continued to fluctuate, the spot market rose slightly, and the January price rose 450470 yuan / ton, with a slight improvement in the transaction. Social inventory continued to decline this week, Ningbo inventory is only 1000 tons, but today there are Hualian goods, has not yet entered the warehouse, about 1000 tons. Today, traders raise the water to ship goods, however, due to fewer shippers, transactions are still general; downstream Ningbo high underwater, poor willingness to receive goods, some enterprises pull goods from the Shanghai area. The water in Ningbo is 6080 yuan per ton higher than that in Shanghai today.

Nickel: today's SMM1 electrolytic nickel offer 109500-112500 yuan / ton. Today's nickel price pressurized 20 antennas, around 110000 near the shock, compared with the beginning of the week, the increase is obvious, Russian nickel to Shanghai nickel 2001 to 110000 yuan / ton, Jinchuan nickel to Shanghai nickel 2001 rose 2600-2900 yuan / ton, the domestic spot discount continues to decline, but the spot transaction stimulus is limited, not as active as the beginning of the week. On the one hand, due to rising prices, demand has been suppressed, on the other hand, after part of the replenishment at the beginning of the week, there is no immediate pressure. Jinchuan quoted 112300 yuan / ton, 1200 yuan / ton lower than yesterday.

Updating.

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