[SMM thread] spot transactions weakened on the 7th, restraining prices from rising sharply with the market.

Published: May 7, 2020 18:43

Macro atmosphere warming, superimposed expected apparent consumption, today's snail main force continues to explore, the spot market opening quotation continues to move up on the basis of yesterday, but after the rise, the transaction is slightly weak, weaker than yesterday, the spot quotation is basically stable in the afternoon. Overall, the deal was not as good as yesterday. [Hangzhou]: the quotation in the morning market rose 10-20 yuan / ton, the mainstream price of Shagang was 3550-3560 yuan / ton, the trend of the whole day was strong, but the transaction situation was general, and the price was mainly stable in the afternoon. Shagang quoted 3560-3570 yuan / ton, and Zhongtian Panluo 36303640 yuan / ton. After the festival, the demand for replenishment is gradually weakening, and the market transaction is weaker today than it was yesterday. [Shanghai]: the morning trading was boosted by the higher disk surface, with thread spot pulling up 20-30 yuan / ton, Shagang 3490-3510 yuan / ton, and snail Shagang 35903610 yuan / ton. Part of the business feedback transaction failed to keep up with the price, the overall transaction is general. [Beijing]: thread maintenance stability, Hegang resources reported to 3450tel 3460 yuan / ton, disk snail stability, Hegang resources quoted to 3700Mel 3720 yuan / ton. The shipment is OK, not much different from yesterday. [Guangzhou]: thread up 40-50 yuan / ton, cold steel offer 3680-3700 yuan / ton, disk snail quote up 30-50 yuan / ton, ten thousand steel quoted 3690-3710 yuan / ton. The terminal has a weak acceptance of the rising price, and the trading volume is not as good as the merchants expected.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
Sep 11, 2026 18:30
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
Read More
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
Australia Reviews Anti-Dumping Duties on Galvanized Steel from India, Malaysia, Vietnam Amid Zinc Concerns
On September 9, 2026, Australia initiated its second sunset review of anti-dumping measures on galvanized steel sheet from India, Malaysia and Vietnam, and separately launched a sunset review of countervailing measures on imports from India. The review covers July 2025-June 2026, with the final report expected by February 11, 2027. As galvanized steel is the largest end-use sector for zinc, the measures directly affect export costs and competitiveness, potentially impacting Australia’s domestic zinc demand and supply chain. Maintaining the duties would provide some protection for domestic steel and coating capacity, while termination could increase low-priced imports and affect regional zinc consumption. The final outcome remains subject to the authorities’ determination.
Sep 11, 2026 18:30
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
Sep 7, 2026 15:43
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
Read More
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
JCC Hongyuan Copper's $200M Expansion Project Aims to Boost Capacity to 550,000 mt by 2027
The 300,000 mt/year copper cathode expansion project of JCC Hongyuan Copper, a subsidiary of Jiangxi Copper Corporation, entered the pre-approval public notice stage of its environmental impact assessment on September 4, with a total investment of approximately 1.416 billion yuan. The project is planned to start construction in September 2026 and be completed in December 2027. Upon completion, JCC Hongyuan's total capacity will jump from 250,000 mt to 550,000 mt.
Sep 7, 2026 15:43
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
Sep 3, 2026 19:00
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
Read More
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
Japanese Yen Increases USD/JPY Drops Below 159 Amid Intervention Speculation
[SMM Precious Metal Express] The Japanese yen spiked sharply during Wednesday's trading, with USD/JPY falling below 159 and closing down 0.92% at 158.69, sparking speculation of Japanese currency intervention. The dollar index also dropped sharply, with a weaker dollar environment providing support for precious metals.
Sep 3, 2026 19:00