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Black iron ore rose 2.69%, hot coil rose 1.72%, thread rose 1.12%. In terms of iron ore port inventories, it has fallen to a new low in nearly three years. The downstream demand is good, maintain the depot to support the ore price, iron ore later mainly follow the finished wood operation. According to SMM, inventories at 35 ports tracked by SMM totaled 100.45 million tons as of May 22, down 1.33 million tons from the previous month and 17.84 million tons from a year earlier, the lowest level in nearly three years. The rigid demand for iron ore in domestic steel mills has led to a continuous decline in port inventory. Today, SMM will release the latest iron ore port data, which is expected to continue to decline. Please stay tuned later. The decline in the national inventory of building materials has slowed significantly in this period, mainly due to the continued weakness of futures and the rainy weather in some areas leading to a slowdown in the pace of terminal delivery, and the demand is still expected in the later period.
Crude oil rose 0.55% in the previous period. International oil prices fell on Friday after US inventory data showed weak fuel demand in the world's largest crude oil consumer and rising tensions between China and the US weighed on global financial markets. Us crude oil futures fell 29 cents, or 0.86 percent, to $33.42 a barrel. However, the contract recorded weekly gains for the fifth week in a row, thanks to production cuts and optimism about the recovery in demand in other countries. U.S. crude oil and distillate stocks rose sharply last week, while fuel demand remained low, according to data released by the U.S. Energy Information Administration (EIA) on Thursday.
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Today's spot
Zinc: the mainstream transaction of zinc in Guangdong province was 16290mur16400 yuan / ton, and the quotation was concentrated on the price increase of 115muri 140 yuan / ton for the 2007 contract of zinc in Shanghai, and the discount of 130 yuan / ton on the Guangdong market was 20% lower than that of the previous trading day. In the first trading session, the price rebounded slightly, and the downstream purchase volume was limited, while the outflow of goods from the market warehouse receipts resulted in an increase in the amount of money that could flow. The holder realized the goods for shipment, and the overall quotation was lower than yesterday. Kirin quoted a price for the July contract for zinc in Shanghai, which was 130 RMB140 / ton and Tiefeng 120 RMB / ton. In the second trading session, traders buy at lower prices, but the holders are not willing to further reduce prices, the market trading slightly stalemate, the market a small number of transactions. Kirin quotes the July contract for zinc in Shanghai to rise 130 yuan / ton and Tiefeng 120 yuan / ton. Kirin, Tiefeng mainstream transaction at 16290mur16400 yuan / ton.
The mainstream transaction of zinc in Shanghai was 16460 Mel 16510 yuan / ton, while that of Shuangyan and Huize was 500 won 550 yuan / ton. Shuangyan and Huize reported 120 won per ton of water in June; Shuangyan and Huize reported 160 won per ton of water in June; and Shuangyan and Huize sold 16380tel 16440 yuan per ton. Shanghai Zinc 2006 contract fell after the shock higher, the morning market closed at 16395 yuan / ton. Smelter shipments are normal, traders are mainly shipments, the morning market from rising water 140 yuan / ton down to rising water 130 yuan / ton, transaction feedback is few, some traders take the initiative to adjust prices to 120 yuan / ton to promote transactions, but the market follows the price adjustment force is less, another part of the average price-5 / average price transaction is OK. Into the second trading session, the market quotation is basically flat in the first trading session, the market trading is flat, the bearish mood is dominant, the downstream purchasing enthusiasm has declined compared with yesterday, and the overall trading within the day is basically flat compared with yesterday.
Updating.
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