SMM7 March 2 News: today, most metals in the non-ferrous market continue to rise, but the increase has been restrained. The stock market showed a strong performance today, near the end of the day, the Prev rose more than 2%, the first index turned red, the brokerage plate as a whole rose 8%, and the turnover between the two markets exceeded trillion yuan. On the whole, individual stocks in the two cities have risen generally, the market is very popular, and the effect of making money is better. Shanghai copper rose 0.63%, high copper prices, increased inventory, weak consumption, market risk aversion vigilance is still high, imported copper is difficult to be quickly digested for the time being. As far as SMM knows, the daily output of the warehouse has dropped sharply recently, and the spot price may soon turn to a comprehensive discount in the short term. For aluminum, the inventory of aluminum bars increased significantly by 6900 tons to 73200 tons compared with last Wednesday. Wuxi, Changzhou, Huzhou, Nanchang inventory have increased to varying degrees, only Foshan inventory continues to decline "check the details of the mainstream large recycled aluminum enterprises offer stable, waste aluminum recyclers generally quote to maintain stability. At present, the traditional approval of waste aluminum has not been reduced, and the approval of Q3 is the same as that of Q2. In addition, the landing of the new label is still unknown. Shanghai lead fell high, the inventory of the two markets continued to decrease and increase, the discount of recycled lead expanded, the downstream just needed to be transferred, and the trading market remained in the doldrums.
The black iron ore fell 0.4%, the thread rose 0.34%, and the hot coil fell 0.2%. Black department at this stage due to demand suppression to continue the cold market, steel production is close to the top, it is difficult to decline in the short term, high supply pressure will continue. As the contradiction between supply and demand appears, we should pay attention to the increase of inventory in the future. In terms of iron ore, some steel enterprises have recently arranged blast furnace maintenance one after another, resulting in a certain suppression of iron ore prices. Steel prices are under pressure in recent days, so it is difficult to support ore prices. However, considering that terminal downstream demand will continue to be released in July, there may still be some boost for late lumber and iron ore prices.
Crude oil rose 2.33% in the previous period. International oil prices recovered from earlier losses on Thursday as a sharp drop in oil inventories offset concerns about a surge in the number of newly confirmed cases in the US and concerns that California's resumption of the blockade could hamper the recovery of energy demand. Us August WTI crude oil futures rose 27 cents, or 0.65 percent, to $40.08 a barrel. September Brent crude futures rose 31 cents, or 0.7 percent, to $42.34 a barrel.
As of today's day close:
Today's capital flow
In terms of capital flow, precious metals, which were very popular yesterday, have an outflow of more than 1.8 billion yuan today, ranking first in commodities. Shanghai Gold and Shanghai Silver are in the top two on the list of commodity outflows without suspense. The heat of the non-ferrous plate also declined, with an outflow of nearly 700 million yuan, while the outflow of more than 400 million yuan of copper in Shanghai was second only to gold and silver. The chemical sector is favored by capital, inflow of more than 700 million yuan. Among them, a big increase in methanol volume was accompanied by an increase in positions, with a capital inflow of 430 million behind ranking first in commodities.
A brief comment on SMM analysts on July 2nd
Copper: today, the main force of Shanghai copper opened at 49390 yuan / ton in the morning, and the bulls increased their positions after the opening, driving the copper price to rise rapidly, exploring a daily high of 49570 yuan / ton. The high bulls took profits and took back some of the gains, then fluctuated in a narrow range around 49360 yuan / ton until the close in the afternoon. Copper prices briefly opened in the afternoon to explore the intraday low of 49270 yuan / ton, around 49300 yuan / ton attracted bulls to enter the market, driving the market to recover, and finally closed at 49410 yuan / ton, up 310 yuan / ton, up 0.63%. During the day, the main contracts reduced positions by 1262 to 128000, mainly by long positions; trading volume decreased by 5000 to 147000; and Shanghai Copper 07 contracts significantly reduced positions by 8400 to 44000, mainly by short positions. At present, the market still maintains the back structure, and the contract spread of 07mur08 has narrowed to around 80 yuan / ton. Shanghai copper continued to rise today. Last night, the United States announced that the weekly EIA crude oil depot fell from the previous value of 1.442 million 4.627 million barrels to-7.195 million barrels, ADP employment increased significantly, macro sentiment optimistic, bullish copper prices. In addition, the epidemic continues to spread in South America, with more than 280000 confirmed cases of new crown pneumonia in Chile so far. Celso Pardo, president of the (Antofagasta Minerals) Trade Union Confederation of Tofagasta Mining Company, has called on the government to suspend operations at all copper mines for 14 days to stop the spread of new crown pneumonia among workers. The news continued to raise concerns about copper supply, and concerns about tight copper supply fermented again, supporting copper prices higher. Today, Shanghai copper sun, along the Brin on the track, the top away from all recent moving averages. Non-farm data are released in the United States tonight, which is expected to lead to optimism in the market, waiting for the outer disk guidance at night to test whether the bulls can continue to push copper prices upwards.
Lead: during the day, the main 2008 contract of Shanghai lead opened at 14795 yuan / ton. last night, the first two attempts to push higher were fruitless. Shanghai lead always hovered near the daily moving average line. Shanghai lead was still obviously blocked by 14900 yuan / ton in early trading. Bulls saw no breakthrough and reduced their positions one after another. Shanghai lead opened to give up the rising trend, fell through and fluctuated all the way away from the daily moving average line, explored the intraday low of 14710 yuan / ton in the afternoon, and left the market with low short positions at the end of the day. Shanghai lead rebounded to close at 14790 yuan / ton, up 5 yuan / ton, or 0.03%. The position increased by 866 lots to 26317 lots, while the trading volume decreased by 3383 lots to 22639 lots. It is difficult to stand firm in the multi-head rush within the day, and the performance meets the high departure. Shanghai lead closed cross star today, but it is still standing above all averages, but it is necessary to be vigilant that the technical indicators of KDJ have shown signs of convergence, pay attention to the seesaw performance of multi-empty forces in the night market, and the disk may continue to carry out high shock finishing based on the 5th line.
Tin: Shanghai tin 2009 contract opened at 138450 US dollars / ton last night, the horizontal market fluctuated at night, and the center of gravity moved down slightly. In the morning, tin opened at 138020 yuan / ton in Shanghai, fell slightly to the intraday low of 137440 yuan / ton, rebounded after hitting the bottom, rose slightly, reached the intraday high of 138610 yuan / ton, and then swung across the day. The last trading amplitude narrowed, closing at 138350 yuan / ton, down 80 yuan / ton, down 0.06%, 23074 hands, 24927 positions, an increase of 2978 hands, the physical part was above all the moving average, and the lower shadow line was above the 20-day moving average. As a cross star, the lower support level is expected to be around 137000 yuan / ton, and the upper pressure level is around 139500 yuan / ton.
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