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[SMM afternoon Review] the general rise of non-ferrous metals is more than 1% in Shanghai, aluminum and zinc in Shanghai.
May 18,2020 11:57CST
The content below was translated by Tencent automatically for reference.

SMM5 March 18: commodity markets generally warmed up this week, most commodity futures rebounded. At midday, Shanghai rose 1.55%, Shanghai zinc rose 1.37%, and the rest fluctuated in a narrow range. In terms of aluminum, on May 18, Shanghai, tin, Guangdong and Henan contributed the main decline. According to SMM statistics, the social inventory of electrolytic aluminum in China continued to drop by 51000 tons to 1.007 million tons compared with the previous week. "to check the details of zinc, recycled lead enterprises continue to release volume, social inventory of lead ingots is accumulated, and it is expected that short-term fundamentals will still restrain the trend of lead prices. due to the holding of the two sessions this week, the market is looking forward to the release of policy good news. Or have a certain emotional support to the market. Zinc mine news, according to May 16 news, Mexican miner Industrias Penoles said on Saturday that it would suspend operations at a zinc mine in central Mexico due to difficult mining conditions and low zinc prices. It said the suspension of operations would not affect its refined zinc production. In 2019, the mine produced 2.3 million tons of ore and 41541 tons of zinc and 8905 tons of lead.

Black rose across the board, and VALE's mine license in Brumadinho was revoked by the local government. The city did not disclose how long it will affect Vale's operations. According to SMM, there was a leak at the No. 1 tailings dam in the Feijo mining area in the Brumadinho area at the beginning of last year, and production has not resumed since then. The impact of this incident on the actual supply of iron ore is limited, and the short-term market sentiment fluctuates obviously. However, it is worth noting that the two sessions will be held this week, and more stringent environmental production restrictions may be implemented in the Beijing-Tianjin-Hebei region, and iron ore prices are at risk of rising and falling. "check the details.

Crude oil rose 4.32% in the previous period. A month after US crude oil futures hit minus $40, the next turning point is just around the corner-the June contract expires on Tuesday, and there is little sign of a repeat of the historic collapse in oil prices. Last month's collapse threatened the stability of contracts at one of the world's two largest benchmark crude oil prices. But Cushing's crude oil stocks began to decline. Cushing stocks fell by 3 million barrels last week, according to the (EIA) of the US Energy Information Administration. This should free up some oil storage space for investors who hold June contracts.

The trading was suspended at noon.

Today's spot

Copper: today, the spot price of electrolytic copper in Shanghai is quoted at 140 yuan / ton to 170 yuan / ton in the current month, the transaction price of copper in flat water is 43210 yuan / ton ~ 43300 yuan / ton, and the transaction price of copper in rising water is 43220 yuan / ton ~ 43310 yuan / ton. Shanghai copper morning market opened low and directly rose back to 43100 yuan / ton first-line shock, today to change the month to 2006 contract quotation, early trading inquiry is active, the holder quotes 150 ~ 170 yuan / ton, good copper can be a small amount to 150 yuan / ton, flat copper price down to 140 yuan / ton transaction is active, the trading atmosphere is slightly better than last Friday. In the second trading session, the supply of copper with low price and flat water has been difficult to find. The rising water of good copper is 160 yuan / ton to 170 yuan / ton, and the standing price of copper water in Pingshui is more than 150 yuan / ton, but the trading heat is not as hot as the morning market, and it is just needed downstream. Wet copper keeps rising water around 110 yuan / ton. Today, the market quotation is firm, the holder still intends to push up the water, the source of low-rising water is highly favored by the market, the transaction is mainly based on the receipt of goods by traders, and the trend of firm quotation will continue.

The second China (Yingtan) Copper Industry Summit Forum and the 15th China International Copper Industry chain Summit

Zinc: the mainstream transaction of zinc in Guangdong Province was 16550mur16700 yuan / ton, and the quotation was concentrated in the price increase of 30,000,000 yuan / ton in the 2006 contract for Shanghai zinc, and the discount in Guangdong stock market was 130 yuan / ton higher than that in Shanghai stock market, which was 20 yuan higher than that in the previous trading day. In the first trading session, futures opened rapidly, individual shippers increased their willingness to ship goods at high prices, and a small amount of low-priced goods flowed out. After the rapid completion of the transaction, the market quotation was cautious, and many pairs of online prices were quoted. Guangdong inventory continued to decline, and market receipt traders increased. Kirin and Mongolia quoted water for the Shanghai zinc contract for June, rising 30 yuan / ton and Tiefeng 30 yuan / ton. In the second trading session, trade inquiries and purchases are still active, coupled with the widening price gap between Shanghai and Guangdong, the holding mood is stronger, the first trading period of external rising water quotation is moving up as a whole, and the lower reaches are generally receptive to high rising water and high prices, just need to purchase, and the market is dominated by transactions between traders. Kirin, Mongolia since the quotation of Shanghai zinc contract in June to rise 50 cents 60 yuan / ton. Kirin, Mengzi and Tiefeng mainstream traded at 16550 RMB16700 per ton.

The mainstream transaction of zinc in Shanghai was 16760 Mel 16780 yuan / ton, Shuangyan and Chihong 16800 yuan / ton, Shuangyan and Chihong quoted a price of 160 yuan / ton in June, Shuangyan and Chihong quoted a price of 150 RMB170 / ton in June, and Shuangyan and Chihong traded 16680 RMB16700 / ton in June. The Shanghai Zinc 2006 contract fluctuated within a narrow range, and the morning market closed at 16670 yuan / ton. Zinc prices are relatively high, smelters ship goods normally, early market traders mainly receive goods, spot quotations go up, the morning market quotes rise to about 130 yuan / ton, and then gradually rise to about 150 yuan / ton, and the average price remains active. There are few quotations when the average price goes down during the day. Into the second trading session, the market domestic quotation again adjusted to rise water 160 yuan / ton, but the market shipping will improve, coupled with zinc prices rebounded downstream there are wait-and-see, transaction slightly weaker, another import quoted rising water 100lb 120 yuan / ton, import squeeze, Shuangyan, Huize transaction is not smooth, the offer than the early market only fine-tuned 20 yuan / ton to rise water 170 yuan / ton, the overall transaction within the day is OK.

The mainstream turnover of zinc ingots in Tianjin market was 16730mur17980 yuan / ton, while that of ordinary brands was 16730mur16870 yuan / ton. For the 2006 contract, the price of rising water was about 120yuan / ton to 250yuan / ton, and the price of Tianjin stock market was about 60 yuan / ton higher than that of Shanghai stock market. Today, Shanghai zinc concussion rises, the spot market maintains a rising discount price, and the quotation is more divergent. The ordinary brand Bering News quotes 230 yuan / ton for 06 contract, Hongyi quotes 240 yuan / ton for 06 contract, Chi Hong quotes 190 yuan / ton for 06 contract, Shuangyan newspaper quotes 200 yuan / ton for 06 contract, and imported KZ quotes 120 yuan / ton for 06 contract. High-priced brand Zijin offered a rise of 250 yuan / ton to the June contract. Today, zinc prices have stopped falling and rebounded, traders have a strong willingness to stand up, and some brands are offering divergent quotations, including kz's earlier offer, which was adjusted to RMB180 / ton before the close, while mainstream brands shipped at a positive price; downstream, the center of gravity of zinc prices gradually moved up and down, and the short-term bullish sentiment of downstream enterprises was strong, and the willingness to receive goods was flat than last Friday. On the whole, today's transaction is the same as last Friday. Zinc ingots traded around 16680 RMB16820 per ton.

The mainstream transaction of Ningbo Gao was 16690 Mel 16790 yuan / ton, and the price difference between Ningbo and Shanghai ordinary brands changed from 10 yuan / ton to 10 yuan / ton. The price of ordinary brands in Ningbo increased to around 140 murals 150 yuan / ton for the 2006 contract, and the price difference between Ningbo and Shanghai ordinary brands changed from 10 yuan / ton to 10 yuan / ton. Today, the rising water in Shanghai is higher, and the goods received by traders are too high to rise, but it is difficult for the Ningbo market to follow. In the first session of the morning, Ningbo market holders continued their quotations last Friday. West Mining, Hualian and other sources reported a rise of 140 yuan per ton for the June contract, while Tiefeng News raised 150 yuan per ton for the June contract, while Kirin lowered its quotation for the June contract. Yongchang reported a rise of 100 yuan per ton for the June contract. Overall, today's turnover remains light, basically flat compared with last Friday.

Lead: Guangdong market South China lead 14000 yuan / ton, price 50 yuan / ton for SMM1# lead price rise 50 yuan / ton; Henan Yuguang, Wanyang and other smelters give priority to traffic order, Jinli and Wanyang 13925 yuan / ton, 25 yuan discount to SMM1# lead price to level water price; Hunan Shuikoushan 13900 yuan / ton, 50 yuan / ton to SMM1# lead price; Hunan Jingui 13800 yuan 13850 yuan / ton, 100,150 yuan / ton to SMM1# lead price Jiangzhong 13950 yuan / ton, the average price of SMM1# lead flat water quotation. Yunnan small factory 13650 yuan / ton, the average price of SMM1# lead discount 300 yuan / ton. Lead prices low upward, Henan smelter bulk single quotation discount slightly narrowed, other areas to maintain discounted shipments, the original trading is relatively light.

"2020 (15th) lead and Zinc Summit



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