SMM7 June 6: during the day, the non-ferrous metal plate generally rose, of which tin, Shanghai and nickel rose more than 2%. In terms of nickel, according to customs data, in May 2020, China's total export of nickel sulfate was 92 tons, an increase of 10 tons from the previous month, an increase of 12% from the previous month, and an increase of 60% over the same period last year. The total import volume was 164 tons, a decrease of 204 tons from the previous month, or 56% from the previous month. Net imports were 71 tons, down 75% from the previous month and 73% from the same period last year. According to foreign mining news, Japan's Mitsui mining and smelting company (Mitsui Mining and Smelting) said on Monday that its two zinc mines in Peru resumed operations on July 2 after more than three months of closure. The company's Huanzala and Palka mines have been shut down since the local government declared a state of emergency on March 16. A spokesman for Mitsui Mining said the mine resumed operation after some economic activity resumed and was approved by the local government. As for lead, according to a survey by SMM, the social inventory of lead ingots began to accumulate since May 8. as of July 3, the total inventory of lead ingots in the five places reached 33800 tons, an increase of 25800 tons over May 8. "check the details.
The black department is up, and the thread 2010 contract is on the strong side. The rainy weather in East and South China has continued this week, and the resilience of demand has yet to be verified. In July, the production limit of blast furnace in Tangshan was strict, and the evaluation index changed from blast furnace to grilling furnace. The strong A-share market leads to capital inflows, and there are too many short-term suggestions. The daily average volume of iron ore continues to rise, and the rigid demand of the steel mills themselves is relatively strong, and the increase in raw materials may be less than that of finished materials in the stage. in terms of inventory, considering that the recent arrival of iron ore in Hong Kong has maintained a high level, while the demand side has dropped slightly due to production restrictions in Tangshan and the recent increase in blast furnace maintenance, the inventory of imported ore ports is still expected to continue to accumulate.
Crude oil rose 0.03% in the previous period. International oil prices rose on Monday, propped up by tighter supply, but concerns that an increase in new confirmed cases in the United States could dampen oil demand and limit the rise in oil prices. Brent crude futures rose 72 cents, or 1.68 percent, to $43.21 a barrel, up 4.3 percent last week. Us crude (WTI) futures rose a quarter, or 0.62 per cent, to $40.90 a barrel from Thursday's settlement price. The US market was closed last Friday for the National Day holiday.
As of today's day close:
Today's capital flow
Commodities rose on a large scale, and the Mandarin Commodity Index attracted nearly 1.9 billion. Stock index futures are particularly popular, with inflows of more than 16 billion of the three major futures indices. PP, plastics and other chemicals blossom, methanol greatly increased the stock of more than 80, 000 hands, the chemical sector reaped more than 1.3 billion of the favor of funds. The oil double meal runs strongly one after another, and the oil chain is supported by nearly 600 million funds. Coke is weak and vibrant, but it has increased its position by 16000 hands a day and has been spoiled by more than 500m funds.
A brief comment on SMM analysts on July 6th
Copper: today, the main force of Shanghai copper opened at 48930 yuan / ton in the morning. After opening, the copper price briefly fell, probing the intraday low of 48820 yuan / ton, and then Kongping fluctuated higher, rising to 49150 yuan / ton all the way, and the bulls made a profit before midday. Copper prices briefly fell to 48990 yuan / ton, and then rebounded to close at 49050 yuan / ton. In the afternoon trading, Shanghai copper continued the concussion trend, the bulls entered the market to pull copper prices up to the intraday high of 49220 yuan / ton, at this time the bulls gradually reduced their positions, and the market fell again, closing at 49040 yuan / ton at the end of the day, down 49040 yuan / ton, or 0.2%. The intraday 08 contract reduced 4520 positions to 117000 positions, mainly short positions; trading volume decreased 18000 lots to 129000 lots; Shanghai Copper 07 contract reduced 5550 positions to 33000 lots, mainly for short positions. At present, the market still maintains the back structure, and the 07 mur08 contract price difference is maintained at around 70 yuan / ton. At present, the cumulative number of confirmed cases of the Xinguan epidemic has exceeded 11.47 million, and the continued spread of the epidemic has suppressed some optimism, but the sustained economic recovery at home and abroad still gives strong support to the upward price of copper. In addition, Chile's state copper company (Codelco) said it would suspend construction at the El Teniente copper mine to expand production, as concerns about tight copper supplies simmered again, helping to push copper prices higher. Today, Shanghai copper closed, the upper pressure 5-day moving average, the KDJ curve crosses downward, but the bottom is still supported by the 10-day moving average, waiting for the outer disk guidelines in the evening to test whether the bulls can sustain their efforts to help copper prices gain momentum again.
Zinc: intra-day Shanghai zinc main 2008 contract opened at 16670 yuan / ton, intraday market optimism continued to ferment, mostly empty, zinc concussion went up to fill all the losses in the night market, while refreshing the high value to 16820 yuan / ton, the final closing price rose to 16820 yuan / ton, up 0.6%, the trading volume increased by 35328 to 147000, and the position decreased to 86134. The long shadow of the zinc closing period is a small positive pillar, which continues the high shock trend, with the release of global money, a substantial increase in market liquidity, inflation expectations highlight the nature of commodity finance, and the loose fundamentals of medium-and long-term zinc supply are weakened. it is expected that zinc in the evening may continue to fluctuate in the range.
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