Home / Metal News / Precious Metals / [SMM afternoon Review] the rise and fall of non-ferrous metals shows that Shanghai lead, Shanghai tin is up more than 1%. Black series finished wood to weak coke is up more than 2%.
[SMM afternoon Review] the rise and fall of non-ferrous metals shows that Shanghai lead, Shanghai tin is up more than 1%. Black series finished wood to weak coke is up more than 2%.
May 25,2020 11:52CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 25 News: in the morning non-ferrous metals market ups and downs, Shanghai lead sudden rise, the main contract rose to a multi-month high. Not enough SMM believes that the current stock of lead ingots is not as expected, and the trend of lead prices is expected to be strong in the short term, but with the expansion of the internal and external ratio, the reduction of import losses, the opening of the import window and the expectation that imported lead will enter the domestic market this week, the rise in lead prices is not expected to be sustainable. As for zinc, as of the week of May 22nd, the TC of domestic zinc concentrate was 5100 yuan / metal ton. With the continuous decline of processing fees, the superimposed zinc price has been repaired compared with that after the Spring Festival, so that the profits of mines have been restored, the willingness of most mines to ship goods has improved, and the shortage of raw materials in smelters has been gradually alleviated. On the supply side, although some smelters carry out maintenance, the actual impact is concentrated in June, and some smelters have postponed the original maintenance time. At present, the average raw material inventory of the smelter is more than 20 days. As follow-up shipments from Russia and Australia arrive at the port one after another, the problem of tight raw material supply is basically alleviated, and follow-up attention is paid to the maintenance of smelters. In terms of aluminum, on May 25th, the arrival of goods was less than that of the warehouse. According to SMM statistics, the social inventory of electrolytic aluminum in China fell by 55000 tons to 924000 tons compared with the previous Thursday. "Click to view the inventory of electrolytic aluminum.

Black continues the weak market late last week, with iron ore up 0.28% and threaded hot rolls down nearly 1%. At present, due to the unabated demand for finished materials and the high operating rate of blast furnace, iron ore is easy to rise and difficult to fall. But it is also difficult to continue to get out of the independent market, will follow the thread trend. In terms of threads, the rapid rise last week coupled with a correction in the expected implementation of the policy, but production restrictions in Hebei and other places during the two sessions will also support steel prices. At present, the strong demand for steelmaking drives the demand for coke, and the overall inventory of coke has declined significantly, and then superimposed with the production restriction policy targets of Shandong, Shanxi and other places, there is a shortage of coke supply in some areas in the short term, and coke prices have the power to rise. "check the details.

Crude oil rose 1.26% in the previous period. But international crude oil futures fell on Monday on fears of escalating tensions between China and the United States. Oil prices have risen sharply in recent weeks, as demand has risen as epidemic restrictions have been relaxed, but tensions between China and the US have begun to dampen sentiment. Brent crude futures fell $0.02, or 0.06%, to $35.11 a barrel. Us crude oil futures rose 13 cents, or 0.39 percent, to $33.39 a barrel. Both contracts have risen over the past four weeks and prices are still down about 45 per cent during the year.

Close by noon

The London Metal Exchange market was closed on Monday during the British spring holiday and there was no LME inventory report; trading resumed on Tuesday.

Today's spot

Copper: today, the spot price of electrolytic copper in Shanghai is quoted for 180 ~ 200 yuan / ton of the contract in that month, the transaction price of leveling copper is 43750 yuan / ton ~ 43820 yuan / ton, and the transaction price of copper is 43760 yuan / ton ~ 43830 yuan / ton. The outer disk is closed today, and the copper in Shanghai is fluctuated along the first line of 43600 yuan / ton. Shanghai recent inventory shows falling again, the holder's will is strong, the market price rises 180 yuan / ton, the early market traders lead the market transaction, high activity, Pingshui copper 180 yuan / ton deal is OK, after hovering in the rising water 190 yuan / ton, good copper offer stalemate, concentrated quotation in the rising water 190 yuan / ton, wet copper basically around 150 yuan / ton, downstream bargain procurement. Today's market good copper, flat water copper narrow fluctuations in the rising water 1800000yuan / ton range shows stalemate, part of the downstream bargain replenishment enthusiasm is OK, LME market every British spring bank holiday, Shanghai copper operation is stable, the holder quotes firm, but the market rising water more than 200 yuan / ton did not follow, rising water and then pull is limited, today's transaction is mostly the final delivery of long single, the market shows the characteristics of supply and demand sawing.

Today, the spot price of electrolytic copper in Guangdong province rose 210 to 220 against the contract for that month, with an average price increase of 10 percent, while wet copper rose 160 percent to 170 percent, with an average price increase of 10 percent. The average price of electrolytic copper is 43805 yuan / ton, while that of wet copper is 43775 yuan / ton. In the spot market, stocks fell sharply over the weekend, coupled with a drop in copper prices, and today's holders generally shipped at a high price. In early trading, there were few shippers and market quotations were messy, flat copper was quoted at 210yuan / ton, 250yuan / ton or even 300yuan / ton; with the increase of shippers, the price began to unify, and after 10:10, the mainstream transaction price in the market has stabilized at 220yuan / ton of good copper, 210yuan / ton of flat copper and 160yuan / ton of wet copper. Overall, Shengshui is higher, the consignee is generally cautious, only maintain on-demand procurement, the overall trading atmosphere is general.

Lead: Guangdong market Nanhua lead 14375 yuan / ton, 50 yuan / ton for SMM1# lead price rise; Jinli 14275 ~ 14325 yuan / ton, 50 yuan / ton to Pingshui price for SMM1# lead price; 14275 yuan / ton for Hunan Shuikoushan, 50 yuan / ton for SMM1# lead price; 14125 yuan / ton for Hunan Jingui 14175 yuan / ton, 150,200 yuan / ton for SMM1# lead price. Jiang Copper 14375 yuan / ton, the average price of SMM1# lead 50 yuan / ton quotation. Jiangxi Jinde is 14275 yuan / ton, and the average price discount to SMM1# lead is 50 yuan / ton. Yunnan small factory 14025 yuan / ton, the average price of SMM1# lead discount 300 yuan / ton. Spot prices are further higher, refinery bulk orders are sold at a high price, but today's spot market transaction is poor, and the downstream is mainly wait-and-see.

Zinc: the mainstream trading of zinc in Shanghai is 16480 RMB16610 / ton, Shuangyan is 16530mm 16650 RMB / ton, imported zinc is 16450mm 16580 RMB / ton; Zinc in Shanghai is generally quoted for 160,000,170 yuan / ton of water in June; Shuangyan is quoted at 220 yuan / ton of water in June, imported zinc is quoted at 130,000,140 yuan / ton in June; the mainstream transaction of zinc in Shuangyan is 16410RMB16540 / ton. Shanghai Zinc 2006 contract fell and rebounded, and the first trading session of the morning market closed at 16435 yuan / ton. the long order ended today, and the market was active, but the transaction was better than the demand of some traders for that month's tickets. the mainstream transaction of that month's ticket market concentrated on the average price discount of 5 yuan / ton to flat price of SMM net, and the market rose 170yuan / ton to 2006 contract in the morning. Entering the second period of time, the market quotation is relatively stable, and the mainstream of the holder reported a rise of 160,0170 yuan / ton for the 2006 contract; the spot price stopped falling and stabilized, and the long order ended today, and the market was in demand for that month's tickets. the spot supply of the current month is relatively strong, and the purchasing mood downstream today is still good, mainly to meet bargains and replenish warehouses.

The mainstream transaction of zinc in Guangdong Province was 16280mur16460 yuan / ton, and the quotation was concentrated in the price increase of 80rel 120 yuan / ton in the 2007 contract for Shanghai zinc, and the discount in Guangdong stock market was 160 yuan / ton higher than that in Shanghai stock market, which was 10 yuan higher than that in the previous trading day. In the first trading session, Guangdong inventory continued to decline, the price quoted by the consignor was relatively strong, individual brands quoted lower pressure prices, and the downstream purchased mainly at low prices, and the market transaction was OK. Kirin, Huize, Mengzi quoted water for the Shanghai zinc contract for July, 110murl 120 yuan / ton, and Tiefeng rose water 90,100 yuan / ton. In the second trading session, the external quotation of resources in the market in that month was relatively strong, and the quotations of individual holders for next month's tickets were on the low side, pressuring the performance of the market, and with the rebound of zinc prices, downstream procurement demand declined, and the overall market trading cooled. Kirin, Mengzi and Huize quoted for the July contract of zinc in Shanghai, the price of rising water is 80murl 110 yuan / ton, and Tiefeng and Feilong Shengshui is 80mur95 yuan / ton. The mainstream transactions of Kirin, Mengzi, Huize, Tiefeng and Feilong were 16280mi 16460 yuan / ton.

Tin: in the spot market, today's quotation is 136000won 138000 yuan / ton. In the morning, the tin market in Shanghai is generally maintained at a high level of shock and finishing, downstream enterprises have a weak willingness to purchase, some traders have purchases, and the overall trading atmosphere in the Shanghai tin spot market is generally weak. For Shanghai tin 2007 contract, Yunxi rising water is 5000 yuan / ton, ordinary Yunzi rising water is 4000mur4 500 yuan / ton, and small brand rising water is 4000 yuan / ton.

Updating.

SMM "combination of period and present" training course

Registration contact: Lu Qingping, Iron and Steel Division of SMM

Tel: 021mur51595781 / 187MUE 1777MUE 4590

SMM comments
aluminum price
copper price
zinc price
lead price

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news