SMM5 month 6: the first day after the festival non-ferrous metals market trading mood is good, most varieties of metals rose. There are measures to relax epidemic control in Europe and the United States during the holiday season, some countries have considered restarting economic activity, and global demand is expected to recover quickly. Suriname, the largest shipper in the Philippines, will resume shipments in mid-May, the impact of supply-side stories began to weaken, nickel prices lack upward momentum, Shanghai nickel fell 1.01%. Shanghai aluminum pulled up, downstream demand is still strong two weeks to reduce storage volume to an all-time high. SMM believes that it is expected to maintain a strong volatility pattern of spot water and futures aluminum prices one to two weeks after the festival, and the back structure will remain strong in recent months before the exchange month, and the price spread is likely to widen further. It is necessary to pay continuous attention to the impact of long short post-holiday mood changes and crude oil news changes on internal and external aluminum prices.
Black thread rose 1.29%, hot coil rose 1.41%, iron ore rose 0.41%. During the holiday period, Tangshan, Hebei Province, released the "May Air quality enhanced Control period stop production scheduling schedule", involving Jinxi, Jianlong, Ruifeng, Donghua, Kaiheng, Jingan and other steel enterprises, limited production capacity of 1.42 million tons. Supply reduction is good for building materials, but it should be noted that the south entered the plum rain season in May, apparent consumption may move down, demand levels or fluctuations.
Crude oil rose 5.76% in the previous period. Crude oil rose and opened higher in the last period, but then fell back. International crude oil futures rose, but higher-than-expected growth in US inventories heightened concerns about oversupply. Us crude oil inventories rose 8.4 million barrels in the week to May 1, a higher-than-expected increase, the (API) said on Tuesday. Oil prices have risen recently as Eurasian countries lift the anti-epidemic blockade and oil-producing countries cut production. But analysts cautioned that the process of rebalancing the oil market would be tortuous.
Close at noon
As of 11:30, HKEx had added US dollar-denominated small metal contracts:
Zinc: Guangdong zinc mainstream transaction in 16370-16600 yuan / ton, the quotation focused on Shanghai zinc 2006 contract rose 40-60 yuan / ton, Guangdong market compared with Shanghai stock market discount 110 yuan / ton increased by 20 yuan compared with the previous trading day. In the first trading session, futures prices opened low and went low, and then fell sharply. However, based on the limited arrival of goods in the Guangdong market during the holiday period, high prices were mainly sold, but the market wait-and-see sentiment was strong, and a small number of transactions were concluded between traders. Kirin, Mengzi, Huize, Tiefeng quoted price for Shanghai zinc June contract rose 45-60 yuan / ton. In the second trading session, futures prices fluctuated at high levels, lack of willingness to purchase downstream, traders pressed prices to receive goods, individual holders quoted prices slightly lower, the overall supply and demand sides are relatively deadlocked. Kirin, Mengzi, Huize and Tiefeng quoted 40-50 yuan per ton for the June contract. Kylin, Mengzi, Huize, Tiefeng mainstream transaction in 16370-16600 yuan / ton.
The mainstream transaction of zinc ingots in Tianjin market was 1676018040 yuan / ton, and that of ordinary brands was 1676016890 yuan / ton. The contract for 2005 rose 180 yuan / ton to 300 yuan / ton. Compared with Shanghai stock market, Tianjin market decreased from 160yuan / ton to 100yuan / ton. Today, Shanghai zinc continued to move higher, the spot market downgraded the discount quotation, the quotation is more uniform, the ordinary brand lark newspaper in the 05 contract rose 180 yuan / ton, the red dragon newspaper in the 05 contract rose 240 yuan / ton, Chi Hong reported in the 05 contract rose 200 yuan / ton, the fourth ring newspaper in the 05 contract rose 210 yuan / ton, the high price brand Zijin rose 300 yuan / ton to the May contract. Today, zinc prices continue to rise, traders initially offered shipments, but under poor transactions, lower discount quotations, of which lark due to the lack of sustainability in the spot market, resulting in its low quotation, the liquidity of other brands in the spot market has improved compared with April; downstream, a round of inventory has been carried out before the festival, and after today's futures prices rose, the overall willingness to pick up goods is poor. On the whole, the deal was light today. The transaction of zinc ingot is near 16710-16840 yuan / ton.
The mainstream transaction in Ningbo was 16670-16770 yuan / ton, and the price difference between Ningbo and Shanghai ordinary brands narrowed from 50 yuan / ton to 40 yuan / ton on Thursday, and the price difference between Ningbo and Shanghai was narrowed from 50 yuan / ton to 40 yuan / ton. The first day at the end of the holiday, non-ferrous groups strengthened, Shanghai zinc rose rapidly, traders actively shipped. In the morning, the first time traders tried to quote will be near 150 yuan / ton for the May contract, 160 yuan / ton for the Kirin contract, 150 yuan / ton for the May contract, and 140 yuan / ton for the May contract. Disk up market reception sentiment is poor, traders offer little change, in addition to some downstream enterprises just need to buy, the market as a whole trading worse than before the festival.
Shanghai Zinc mainstream transaction in 16510-16710 yuan / ton, Shuangyan, Chi Hong in 16530-16730 yuan / ton; Shuangyan and Chihong quoted 110-120 yuan / ton in May; Shuangyan and Chihong reported 130-140 yuan / ton in May; Shuangyan and Chihong traded in 16540-16640 yuan / ton. Shanghai Zinc 2005 contract accelerated higher, closing at 16595 yuan / ton in the morning. After the festival, zinc prices rose, smelter shipments were normal, the market was dominated by shipments, domestic prices in the morning market rose to 110-120 yuan / ton, Shuangyan reported 150-160 yuan / ton, transaction feedback was relatively limited, domestic transactions with average prices or average prices rose more smoothly, because the disk went too high, downstream fear high wait-and-see, to downstream consumption-based Shuangyan, Huize quotation appeared down. The actual transaction is about 130-140 yuan / ton, the domestic quotation remains stable, the import volume is still less, the mainstream reported water 80 yuan / ton, and the domestic price difference is limited and the downstream buying is weak, the transaction is not good, the transaction between intra-day trading firms is relatively more active, the overall transaction is slightly cooler than before the festival.
Lead: South China lead in Guangdong market is 14080 yuan / ton, the average price of SMM1# lead is 80 yuan / ton. Henan Yuguang, Wanyang and other smelters to Jiaochang single, Jinli, Wanyangjiang copper 14000 yuan / ton, the average price of SMM1# lead to water 50 yuan / ton (traders); Hunan Shuikoushan 14050 yuan / ton, the average price of SMM1# lead rose 50 yuan / ton; Hunan Jingui 14050 yuan 14080 yuan / ton, the average price of SMM1# lead rose 50 yuan / ton. Jiang copper 14050 yuan / ton, the average price of SMM1# lead rose 50 yuan / ton. Back after the festival, today's downstream procurement in general, the smelter reduced the price of rising water, the shortage of primary lead supply problem alleviated, the current downstream procurement of recycled lead.
SMM "current combination" training class
Registration contact: Lu Qingping, SMM Iron and Steel Division
Tel: 021-51595781 / 187-1777-4590