SMM4 month 2: today's sharp jump in the international crude oil market, commodities generally rebounded, non-ferrous metals market generally upward. Recently, the world's fourth tin mine shut down, the African mining company AfriTin announced that because of the epidemic will suspend open-pit mining in Yuez. As countries around the world adopt blockades, some tin mines have recently been closed for a short period of time in accordance with government policy. African Minerals is the fourth company after Minsu, MSC and Wento to suspend production because of the new crown virus. It is reported that the annual production capacity of Yuez tin concentrate is about 630 tons. Shanghai lead low shock, long-term or partial air operation. Because with the acceleration of the progress of domestic resumption of production and resumption of work, the problem of insufficient recycled lead raw materials will be gradually alleviated, and the shortage of supply will be resolved sooner or later. In addition, although the operating rate of battery companies in April is expected to be revised month-on-month, it does not rule out a sharp pullback in May, given the shutdown of overseas auto companies or the impact on domestic lead-acid battery exports.
The black series rebounded sharply, with iron ore down more than 3 per cent in the morning, up 2.85 per cent at the close, up 2.46 per cent in hot rolls and 1.48 per cent in threads. The sharp rise in crude oil has boosted the enthusiasm of the market for investment, and ferrous metals have responded better. On the news front, the Ministry of Commerce said that it will actively work with relevant departments to implement relevant policies and measures, speed up the reform of release, management, and clothing, promote the stability of new car sales, promote the relaxation or cancellation of purchase restrictions in relevant localities, and constantly improve the vehicle environment. As soon as possible, the detailed rules for the implementation of the measures for the Recycling of scrapped Motor vehicles will be promulgated to promote the scrapping and renewal of old vehicles, and continue to promote the release of the potential of automobile consumption. According to mining sources, Vale of Brazil is recently testing the feasibility of short-term alternatives to tailings dams, and if proved feasible, the Brucutu mine will be able to increase from the current 40 per cent to 80 per cent, but no changes have been made to the production target.
Crude oil rose 9.97% in the previous period. Since the beginning of this year, the global epidemic has hit manufacturing and shipping industries to stack Saudi and Russian crude oil price wars, oil prices plummeted to multi-year lows. Just days after the standoff between the two sides, Trump suddenly said that Russia and Saudi Arabia would soon reach an oil deal. Today, oil and gas reform plate change pull up, Zhongman oil rose by the limit, Bacon energy rose 8.94%, intercontinental oil and gas rose 4.39%, Tongyuan oil, Hengtai Aipu and so on. In the futures market, Brent crude rose more than 10 per cent to $27.23 a barrel, while WTI crude rose 8.27 per cent to $21.95 a barrel. "[abnormal] Trump says the crude oil market for Russia and Saudi Arabia may reach a production agreement to rebound sharply
As of today's daytime close:
As of 16:10, the new US dollar denominated small metals contracts on the HKEx are as follows:
Today's capital flow
In terms of capital flow, it can make the collective surge, the crude oil sector received 1.127 billion financial support, and chemicals also have 779 million funds to pay attention to. Yesterday, the crazy influx of funds into the black chain outflow, thread, coke lost more than 1 billion funds.
Brief comment of SMM analyst on April 2
Copper: today, the Shanghai copper main contract 2005 opened low at 38960 yuan / ton in the morning, and quickly fell to a daily low of 38570 yuan / ton after the opening of the session. Subsequently, the short positions were reduced one after another, and the copper price hit the bottom and rebounded to stand above the 39000 level again. At the end of the afternoon, it closed at 39170 yuan / ton. In the afternoon, the bulls actively joined the WTO to push copper prices higher until the close of Shanghai copper continued to continue a strong trend, the end of the day to touch the highest point of 39650 yuan / ton, up 400 yuan / ton, up 1.02%. Today, the main position decreased by 1767 hands to 109000 hands, mainly for the reduction of short positions; trading volume of 23000 hands to 101000 hands. Shanghai copper index positions decreased by 7408 hands to 334000, mainly for short positions reduced; trading volume increased by 63000 hands to 259000 hands. Within the day, Shanghai copper opened low and walked high, mainly linked by a sharp rebound in international crude oil prices. As US President Donald Trump expects the oil price war between Saudi Arabia and Russia to come to an end soon, and expects to reach an agreement in the near future to pull up oil prices again, market fears have been alleviated, helping to stop the decline of both US oil and cloth oil. Commodities have been boosted by linkage factors, and Shanghai copper has also changed its decline and returned to the 40000 mark. Today, Shanghai copper close Yang, supported by the 10-day moving average, MACD green pillar turned red, but the global epidemic inflection point is still unknown and the risk of economic recession is still in, Shanghai copper in 40000 yuan / ton resistance is still in, continue to pay attention to Saudi Arabia and Russia energy dispute as well as the progress of the epidemic in Europe and the United States, test whether Shanghai copper can maintain stability around 39600 yuan / ton.
Lead: within the day, the Shanghai lead main force 2005 contract opened at 13740 yuan / ton, at the beginning of the day, the non-ferrous metal collective weakened, Shanghai lead once probed down to 13520 yuan / ton, later boosted by the strengthening of crude oil prices, Shanghai lead continued to shock and climb, recover the intraday decline, the center of gravity moved up, and finally closed at 13790 yuan / ton, down 25 yuan / ton, down 0.18%, position reduced by 246 hands to 23955. Shanghai lead newspaper closed down the shadow Xiao Yang line, maintain a high shock situation, although the short-term moving average to maintain the upward trend, but the fundamentals do not have a new bright spot, the near future or test below 13500 yuan / ton platform support.
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