SMM4 22: this morning non-ferrous metals in the crude oil market continued to affect the overall decline, of which Shanghai lead fell 0.77%, short-term primary lead profits can be, there will be no reduction in production. The amount of recycled lead is gradually released, and the pressure on the supply side is expected to be still large. And the consumer side is still flagging, downstream to just need to buy mainly, on the whole, lead prices are still weak collation; zinc is currently affected by the epidemic, overseas supply side story is still continuing. At the consumer end, the galvanized plate supports zinc consumption. Recent consumption is still at a high level, zinc prices fell, downstream mining and buying efforts have been strengthened, is expected to go to the warehouse this week is better, for zinc prices to support. Short-term focus on zinc price 15600 support. In addition, the Zinkgruvan zinc mine in Sweden resumed operations after the fire. Canadian mining company Lundin Mining, which broke out at the Zinkgruvan zinc mine in Sweden on April 20, is now believed to have been caused by a truck fire at a height of 1140 meters and is expected to produce 7.7-82000 tons of zinc in 2020.
Black series low open pull up, steel to achieve rebound. Yesterday, the arrival volume of iron ore in this period is expected to be 12.01 million tons, down 1.82 million tons from the previous month. However, the current Aoba iron ore shipments continue to increase, in the overseas, especially in Japan and South Korea iron ore demand decline in the later period may increase shipments to China. With the gradual increase of hot coil steel resources in the north and the continuous decrease in the resources in the south, the downward risk of the spot price in the northern market increases, while the spot price in the southern market may be stronger.
Crude oil fell 10.04% in the previous period. Affected by the external market, domestic crude oil futures soon hit the limit. Industry insiders believe that the crude oil storage space in the US market has gradually approached its limit after several weeks of continuous accumulation. Crude oil is facing a severe oversupply and high market inventories. With the introduction of various travel restrictions and shutdowns, most of the United States is at a standstill. The only potential crude oil buyers are entities such as refineries or airlines that need actual delivery, but amid weeks of continued weakness in terminal demand, idle storage space for these large physical enterprises is very scarce. As a result, there is a lack of intention to buy further oil spot.
Close at noon
As of 11:30, HKEx had added US dollar-denominated small metal contracts:
Zinc: the mainstream transaction in Ningbo was 15910-16010 yuan / ton, the price difference between Ningbo and Shanghai ordinary brand increased from 20 yuan / ton to 30 yuan / ton, the price difference between Ningbo and Shanghai increased from 20 yuan / ton to 30 yuan / ton, the price difference between Ningbo and Shanghai increased from 20 yuan / ton to 30 yuan / ton. Today, due to the large demand for long orders in the Shanghai market, traders actively buy and raise water, and the Ningbo market follows slightly. Because the circulation of goods in the market is very tight, in the first period of the morning, the market quotation is concentrated in Tiefeng and Huize near 270 yuan / ton for the May contract. Hualian and Kirin reported 300 yuan / ton for the May contract, which is converted according to the average freight rate of 40 yuan / ton in the city. Basically equivalent to the May contract rose by about 260 yuan / ton, imported zinc KZ reported on the May contract rose by 290 yuan / ton. Today, the market is slightly lower, the rising water is relatively strong, the market inquiry willingness is significantly less than yesterday, the market trading is very light.
Shanghai zinc mainstream transaction in 15880-15970 yuan / ton, Shuangyan transaction in 15910-16000 yuan / ton; zinc general price of 220-230 yuan / ton in May; Shuangyan reported 250-260 yuan / ton in May; zinc mainstream transaction in 15800-15900 yuan / ton. Shanghai zinc 2005 contract low rebounded, the morning market closed at 15720 yuan / ton. Smelter normal shipment, this week within the long order will expire, traders procurement and delivery more active, some holders homeopathic price, early market domestic quotation up to rising water 230-250 yuan / ton, the increase in market acceptance is not high, to SMM average price + 10 5 yuan / ton transaction is more active, at the same time, traders reported rising water 200 yuan / ton shipment, but the volume of goods less did not cause too much waves. Entering the second trading period, the market quotation held steady at 220-230 yuan / ton, Shuangyan Huize reported 250-260 yuan / ton, the market all had transactions, but the disk rose back up and the discount rose significantly, and the willingness to buy downstream decreased, only to do just-needed procurement, the main transaction within the day was contributed by traders.
Guangdong zinc mainstream transaction in 15650-15780 yuan / ton, the quotation focused on Shanghai zinc 2006 contract rose 50-70 yuan / ton, Guangdong stock market compared with Shanghai stock market discount 190 yuan / ton increased by 60 yuan compared with the previous trading day. In the first trading session, the quotation of individual cardholders was higher than yesterday, but the transaction was completed quickly, coupled with the higher quotation in the Shanghai market and the strong sentiment in the late market, the quotation was raised as a whole. Kirin, Mengzi, Huize, Tiefeng quoted price for Shanghai zinc June contract rose 5060 / ton. The second trading period, downstream bargains into the market procurement, as a result of the recent Guangdong supply has been sent to East China, Tianjin and other places, the holder is optimistic about the subsequent spot water performance, the overall price is high, the water price continues to rise. Kirin, Mengzi, Huize and Tiefeng quoted 60-80 yuan per ton for the June contract. Qilin, Mengzi, Huize, Tiefeng mainstream transaction in 15650-15780 yuan / ton.
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Tin: spot market, today quoted 128500-130000 yuan / ton, the morning Shanghai tin plate first suppressed and then raised the center of gravity overall downward, Shanghai tin spot market quotation is numerous and complicated. On the demand side, enterprises in the lower reaches of the day have a wait-and-see mood to maintain the need for procurement, and traders receive a small number of goods. Shanghai tin spot market overall transaction atmosphere is general. Shanghai tin 2006 contract set Yunxi rising water 6000-6500 yuan / ton, ordinary cloud word rising water 5000-5500 yuan / ton, small brand rising water 4500-5000 yuan / ton.
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Registration contact: Lu Qingping, SMM Iron and Steel Division
Tel: 021-51595781 / 187-1777-4590