SMM5, March 15: this morning, the overall smooth operation of non-ferrous metals, the market reaction to economic data was mediocre. Shanghai nickel fell 1.31%, Shanghai copper Shanghai aluminum Shanghai lead rose slightly. In April, the whole country promoted epidemic prevention and control and economic and social development as a whole, the domestic epidemic prevention and control situation continued to consolidate, the resumption of work and production and resumption of production and return to the city were promoted in a down-to-earth manner, the production demand gradually improved, the support of basic industries was strong, and the market expectations were generally stable. The main indicators continue to restore the momentum of improvement since March. Bureau of Statistics: the operation of the national economy continued to improve in April. The main indicators showed positive changes in nickel prices. From the basic point of view, the domestic port nickel mine inventory remains tight, but in the later stage the Philippine nickel mine shipment returns to normal one after another, the raw material inventory shortage will be alleviated. However, with the completion of downstream manufacturers and the impact of the epidemic continues, the market still has doubts about the later downstream demand.
Black system generally rose, the market has been disturbed by real estate and other data, but because the Bureau of Statistics data in April has a certain lag, can not more accurately reflect the current economic situation. Total steel stocks continued to fall this week, and sales of machinery such as excavators have recently risen in line with prices. This week, the total inventory of threaded building materials nationwide was 11.897 million tons, with a month-on-month ratio of-8.7%, which accelerated by 2.4%. Mainly due to the narrow decline in inventory in the previous period, and on a lower basis, there was a hot shipment situation in various places a few days after the May Day holiday of this period. therefore, the inventory in this period has dropped considerably, and the sales volume of machinery such as digging machines has risen along with the price recently. On the whole, the steel remains on the strong side in the short term. In addition, as port inventories continue to fall iron ore prices are supported to some extent. Short-term iron ore prices remain strong, medium-and long-term foreign mine supply has an upward trend, when mine prices may fall back "[SMM brief Review] Economic data decline in line with expected strong demand to support steel prices
Crude oil rose 4.05% in the previous period. Lower production from OPEC and other oil-producing countries has boosted oil prices. But sentiment remains cautious as the new epidemic is far from over and new cluster infections have emerged in countries that have lifted the blockade. According to the IEA monthly report, oil demand is expected to fall by 8.6 million barrels per day, 690000 barrels per day less than previously estimated. In addition, Saudi Aramco, the world's largest crude oil exporter, has cut crude oil supplies to at least three Asian buyers by 10%-30% in June.
Close at noon
Copper: today, Guangdong electrolytic copper spot contract rose 70% to 90%, the average price rose 35%; wet copper rose 30% 40%, the average price rose 40%. The average price of electrolytic copper rose 245yuan / ton to 43380 yuan / ton, and the average price of wet copper rose 205yuan / ton to 43335 yuan / ton. Spot market, the last trading day before the exchange month, the market trading is very quiet, very few shippers, early trading has a small amount of flat copper 50 yuan / ton inflow, but soon by the second, then the shipper raised the price of shipment, to about 11:00, good copper trading price has risen to 90 yuan / ton, flat copper trading price of about 70 yuan / ton, wet copper is also raised to 30 yuan / ton. The following month Pingshui copper quotation heard 150-200 yuan / ton, next Monday's market quotation is also expected to be in this range. Overall, the pre-delivery market trading is quiet, very few transactions.
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Aluminum: pre-afternoon aluminum interval concussion is dominant. In the morning, the spot price in Wuxi area of Shanghai is between 13000 and 13020 yuan / ton, but the buyers and sellers are hesitant in the early morning, showing that there are not many transactions on the sidelines. As a large customer announces the procurement plan, the market transaction heat gradually rises, and the spot price begins to concentrate between 1302013040 yuan / ton. At this time, there are many consignees, and there are obviously more shippers than shippers. The transaction between the two sides is very active, and the market atmosphere weakens after 11: 00. The transaction price is concentrated in 13000 murals, 13020 yuan / ton, and the discount before noon is concentrated in between 20% and 20% of the month. Trading among traders is very good today. Due to the proximity of the weekend, the downstream is normally ready today, the goods can be received. The overall transaction in East China is better today.
"2020 (15th) China International Aluminum processing Summit
Zinc: the mainstream transaction of zinc in Guangdong was 16490-16550 yuan / ton, and the quotation focused on the 10-30 yuan / ton increase in the contract for zinc 2006 in Shanghai. The discount in Guangdong market was 110 yuan / ton higher than that in Shanghai stock market, which was flat compared with the previous trading day. In the first trading period, the center of gravity of futures prices moved slightly up, downstream inquiry procurement decreased compared with yesterday, and market arrival was limited, holders relatively raised prices, most of the market quotation on the net price, trading between traders, Kirin, Mongolia from the quotation of Shanghai zinc June contract rose 30 yuan / ton, Tiefeng 20 yuan / ton. In the second trading session, downstream demand has not improved, traders undercut the price of goods, the overall market quotation is 10 yuan lower than the first trading session, on the whole, the market transaction is general. Kirin, Mongolia from the offer of Shanghai zinc June contract 20 yuan / ton, Tiefeng 10 yuan / ton. Kirin, Mengzi, Tiefeng mainstream transaction in 16490-16550 yuan / ton.
Shanghai Zinc mainstream traded at 16610 RMB16680 per ton, while Shuangyan and Chihong traded at 16620 RMB16700 per tonne. Shuangyan and Chihong offered 140 yuan per ton for June water quotation; Shuangyan and Chihong quoted 150 yuan per ton for June; and Shuangyan and Chihong quoted water at 16530tel 16600 yuan / ton. Shanghai zinc 2006 contract narrow shock, the morning market closed at 16505 yuan / ton. Zinc prices fluctuated within a narrow range, traders shipped normally, and Shanghai zinc quotations basically converged compared with yesterday. Domestic quotations rose by about 140 yuan / ton, and Shuangyan quoted water rose by about 150 yuan / ton. The average price still contributed to the main transactions in the first trading session. In addition, the downstream market inquiry procurement, the market trading remained active in the second trading session, and the transaction of imported brands also increased, and the continuous decline played a significant role in promoting actual consumption. Overall turnover during the day was slightly higher than yesterday.
The mainstream transaction of zinc ingots in Tianjin market was 16590-17890 yuan / ton, and that of ordinary brands was 16590-16780 yuan / ton. The contract for 2006 rose by 100 yuan / ton to 270 yuan / ton. Compared with Shanghai stock market, Tianjin market rose from 50 yuan / ton to 60 yuan / ton. Today, Shanghai zinc stopped falling and rebounded, the spot market maintained the discount quotation, the quotation is more divided, the ordinary brand lark newspaper in the 06 contract rose 190 yuan / ton, the red mark reported in the 06 contract rose 210 yuan / ton, Chi Hong reported in the 06 contract rose 170-190 yuan / ton, the import KZ reported in the 06 contract rose 100 yuan / ton, the high price brand Zijin rose 270-260 yuan / ton to the June contract. Zinc prices rebounded today, traders have a strong willingness to bid, some brand quotation is divided, high-priced brand shipment situation is not good after reducing the rising water quotation; downstream, the spot price in Tianjin today is basically the same as yesterday, and the mood of receiving goods downstream is better. Overall, today's deal was flat yesterday. The transaction of zinc ingot is near 16540-16730 yuan / ton.
The mainstream transaction in Ningbo was 16610-16710 yuan / ton, and the price difference between Ningbo and Shanghai ordinary brands narrowed from 20 yuan / ton to 10 yuan / ton, and the price difference between Ningbo and Shanghai was narrowed from 20 yuan / ton to 10 yuan / ton, and the price difference between Ningbo and Shanghai was narrowed from 20 yuan / ton to 10 yuan / ton. The Shanghai market rose slightly today, but the Ningbo market was weak to follow. In the first period of the morning, Westminers and Hualian extended their quotation yesterday, reporting a rise of $140 / tonne for the June contract, 150 yuan / tonne for the June contract, 160 yuan / tonne for the Tiefeng contract and 170 yuan / tonne for the June contract. Morning transactions were poor, entering the second trading session, downstream buying intention deteriorated, traders slightly reduced the water, Kirin on the June contract rose 160 yuan / ton, Tiefeng down to the June contract rose 150 yuan / ton. Overall, trading today is weaker than yesterday, and the market is not buying well.
Lead: Guangdong market South China lead 13900 yuan / ton, the average price of SMM1# lead 50 yuan / ton quotation; Henan Yuguang, Wanyang and other smelters to cross long list, Jinli 13800 yuan / ton, to SMM1# lead average price discount 50 yuan / ton, Minshan 13770 yuan / ton, to SMM1# lead average price discount 80 yuan / ton; Hunan Jingui 13700 yuan / ton, SMM1# lead average price discount 150 yuan / ton. Jiang copper 13850 yuan / ton, SMM1# lead average price flat water quotation. Yunnan small factory 13550 yuan / ton, the average price of SMM1# lead discount 300yuan / ton quotation. Lead price shock operation, smelter single quotation discount slightly narrowed, but today's market procurement is mainly recycled lead, primary trading is relatively light.
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