SMM4, March 9: recent macro trading sentiment continued to turn around, and yesterday Senator Sanders announced his withdrawal from the U. S. presidential election after the collective rise in U. S. stocks. Domestic futures markets generally rose, Shanghai copper rose 0.44%, Shanghai aluminum rose 0.69%, Shanghai tin rose 1.12%, Shanghai nickel rose 0.89%, lead and zinc floating green. Shanghai zinc fell 0.48%, and London Metal Exchange data released on Wednesday showed that Lun zinc stocks jumped 18.67%, refreshing more than a nine-month high. Data released last year showed that zinc stocks in Shanghai fell for three weeks but at a limited rate, with weekly inventories falling to 158139 tons as of April 3, still near a three-year high and about fivefold from their low at the end of last year. Affected by high inventory, zinc internal and external disk are under pressure operation. Inventory, according to SMM research, April 9, storage pressure compared with the previous period, superimposed more out of the stock rose, SMM statistics of domestic electrolytic aluminum social inventory fell 69000 tons to 1.607 million tons compared with the previous Thursday. "View details
The black system continued to rise, with iron ore threads up nearly 2 per cent. In the near future, there has been no significant change in steel fundamentals, and demand has recovered smoothly while the supply side has increased production at short-process steel mills due to lower scrap prices. In the short term, steel is mainly driven up by macro emotional recovery and commodities as a whole. The Ministry of Industry and Information Technology learned that the building materials industry has made positive progress in responding to the impact of the epidemic and resuming work and production. As of April 6, 29903 of the key building materials industry association enterprises have started construction, with an operating rate of 95 per cent. Among them, the cement industry is driven by the investment of key projects in infrastructure projects, and the resumption of work and production is orderly and improving. In addition, the shutdown and maintenance of steel mills increased significantly by 64 per cent in March, and the impact of molten iron rose to 2.06 million tons from 1.25 million tons in February, mainly because downstream demand had not yet fully recovered and there were more overhauls of steel mills in March. "[SMM Iron and Steel April Iron Ore monthly report]-domestic mine start" retaliatory "rise?
Crude oil rose 2.43% in the previous period. International crude oil is also generally rising, and the world's largest oil producer is expected to agree to cut production later today, as global demand has fallen sharply as a result of the new crown pneumonia epidemic. Brent crude oil futures rose 1.37 per cent to $33.29 a barrel after hitting $33.90 a barrel. Us crude oil futures rose 2.71 per cent to $25.77 a barrel after rising as much as 6 per cent earlier in the day to a daily high of $26.61 a barrel.
Close at noon
As of 11:30, HKEx had added US dollar-denominated small metal contracts:
Copper: today, Guangdong electrolytic copper spot on the current month contract up 90% 100, wet copper up 40% ~ 50%. The average price of electrolytic copper rose 410 yuan / ton to 41025 yuan / ton, and the average price of wet copper rose 405 yuan / ton to 40975 yuan / ton. In the spot market, although the rate of increase in arrivals to the warehouse slowed, but the holder still insisted on high water delivery in early trading, flat water copper quoted for 90 yuan / ton, good copper offer for 110 yuan / ton. By 10:10 or so, the market situation changed abruptly, and affected by the sharp drop in rising water in Shanghai, large traders in Guangdong also began to ship a large number of goods, especially warehouse receipts thick board goods, the price was directly reduced from 110 yuan / ton to 90 yuan / ton, and the price of flat water copper also dropped slightly to 80 yuan / ton. In addition, the mainstream transaction price of wet copper today is 40 yuan / ton. Overall, as delivery approaches, the atmosphere of rising water in the market has declined, and it is expected that rising water will fluctuate and fall in the future.
Lead: South China lead 1402514055 yuan / ton in Guangdong market. The average price of SMM1# lead is 50 yuan / ton higher than that of 80 yuan / ton. Henan Yuguang, Wanyang, Jinli and other smelters are mainly long single, and the market supply of bulk orders is less: Hunan Shuikoushan 14025 / 14075 yuan / ton, the average price of SMM1# lead up 50% 100 yuan / ton (traders), Jiang copper 14075 yuan / ton, the average price of SMM net 100 yuan / ton, Anhui bronze crown 14175 yuan / ton, SMM net 200 yuan / ton; Today, the overall market trading turned light, but the market supply is still tight, as the source of recycled lead has flowed out one after another, the downstream began to mainly purchase recycled refined lead.
Shanghai market electrolytic lead circulation supply is scarce, the market almost no quotation; Jiangsu and Zhejiang market Shuikoushan, southern lead 14105-14125 yuan / ton, Shanghai lead 2005 contract 430450 yuan / ton quotation. Lead in the future maintained the consolidation situation, at the same time, the supply of goods in circulation in the market was still less, the holders offered more goods, and the price rose higher than yesterday, while the consignees were still concentrated in the traders, and the downstream just needed gradually flowed to recycled lead. There are obvious regional differences between Jiangsu, Zhejiang and Shanghai and other regions.
Zinc: the mainstream transaction of zinc ingot in Tianjin market is 15710-17240 yuan / ton, the mainstream transaction of ordinary brand is 15710-15780 yuan / ton, and the price of 2004 contract is 100 yuan / ton to 150 yuan / ton. Compared with Shanghai stock market, Tianjin market keeps the rising water about 40 yuan / ton. Today, Shanghai zinc weakens, the spot market continues to raise the discount quotation, the quotation is more unified, the ordinary brand red Ye lark reported in the 04 contract rose 120 yuan / ton near, Chi Hong reported in the 04 contract rose 100 yuan / ton near, the high-priced brand Zijin rose 150 yuan / ton to the April contract. Today, traders raised their discount quotations, as a result of the delivery of orders from smelters of various brands at the beginning of the month, resulting in a smaller volume of goods circulating to the spot market and a stronger willingness of traders to offer prices. After the price of zinc fell today, the willingness of downstream enterprises to inquire was more flat than yesterday and kept just in need of procurement. On the whole, the transaction today is flat compared with yesterday. The transaction of zinc ingot is near 1566015730 yuan / ton.
The mainstream transaction of Guangdong zinc was 15560-15680 yuan / ton, and the quotation focused on the Shanghai zinc 2005 contract discount of 10-20 yuan / ton, and the discount of 90 yuan / ton in Guangdong stock market was 10 yuan less than that of the previous trading day. In the first trading period, the shipments of the shippers were relatively positive, and some of the shippers took the initiative to lower the prices, a small number of transactions between traders, and a small number of purchases downstream. Kirin, Mengzi, Huize and Tiefeng quoted prices for the Shanghai zinc May contract discount of 10-20 yuan / ton. The second trading period, downstream in the case of falling orders, the purchase volume is limited, the market shipment traders are more, the supply exceeds the demand obviously, the market transaction gradually tilts to the low discount price. Kirin, Mengzi, Huize and Tiefeng offer 20 yuan / ton to the May contract. Qilin, Mengzi, Huize, Tiefeng mainstream transaction in 15560-15680 yuan / ton.
The mainstream transaction in Ningbo was 15600-15670 yuan / ton, the ordinary brand rose 110-130 yuan / ton to the 2005 contract, and the price difference between Ningbo and Shanghai ordinary brand was maintained at 40 yuan / ton. Zinc prices fell slightly, today traders maintain yesterday's offer, active shipment. In the morning, brands such as Tiefeng, Hualian and Xijiao reported an increase of about 120 yuan / ton on the May contract, and Yongchang newspaper raised the water by 110-120 yuan / ton on the May contract, but most of the transactions were 110 yuan / ton. Today, the market procurement willingness is relatively low, basically just need to purchase, the overall transaction atmosphere is more insipid, compared with yesterday's transaction situation is basically flat.
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