Home / Metal News / Precious Metals / [SMM afternoon Review] Shanghai Copper rose more than 5%, leading the rise of non-ferrous metal black series floating red iron ore to 4.55%.
[SMM afternoon Review] Shanghai Copper rose more than 5%, leading the rise of non-ferrous metal black series floating red iron ore to 4.55%.
Jul 13,2020 11:51CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 13: this morning, the non-ferrous metals market rose strongly. Shanghai copper rose 5.43%, and the futures price exceeded 53000, a two-year high. Other non-ferrous metals Shanghai Nickel rose 1.94%, while the rest rose more than 2%. In terms of copper, the news that workers at the Zaldivar copper mine in Chile are tentatively scheduled to strike on July 15 has raised supply concerns, and the Chilean epidemic has continued to disturb the mine side. Separately, London Metal Exchange (LME) data showed that Lun copper stocks fell continuously to 181075 tons, a new four-month low. Aluminum, July 13, SMM statistics domestic electrolytic aluminum social inventory of 712000 tons, the same as last Thursday. Inventory in East China and South China Sea is a little tired, and inventory in Gongyi region has recorded a decline. "check the details."

Black iron ore rose 4.55%, while threaded hot rolls rose more than 1%. At present, supply, reduction and demand are stable, market sentiment has eased, the overall spot fundamentals of rebar are improving, and spot prices have gradually entered the upward channel. In addition, it is reported that the Shanxi Provincial Department of Industry and Information Technology recently issued the 2020 Action Plan for the Transformation and upgrading of Shanxi's Iron and Steel Industry. In 2020, Shanxi Province will focus on promoting 33 upgrading projects, with a total investment of 32.3 billion yuan, and strive to complete an investment of 10 billion yuan that year. "check the details of the main business income of 300 billion yuan for the whole industry."

Crude oil rose 0.41% in the previous period. Outer crude oil futures fell in early Asian trading on Monday as traders focused on this week's (OPEC) technical meeting of the Organization of Petroleum Exporting countries, which is expected to recommend production cuts that have already had a supporting effect on oil prices. Brent crude oil futures recently fell $0.28, or 0.65%, to $42.96 a barrel. Us crude oil futures fell 28 cents, or 0.69 percent, to $40.27 a barrel.

Close by noon

Today's spot

Zinc: the mainstream turnover of zinc ingots in Tianjin market was 18020Mub 18140 yuan / ton, Zijin was traded at 18090mur18190 yuan / ton, Huludao was quoted at 19290 yuan / ton, zinc common to 2008 contract quoted water 80 yuan / ton to 100 yuan / ton, Zijin contract quoted water 150 yuan / ton in August, Tianjin market dropped from 60 yuan / ton to 40 yuan / ton compared with Shanghai market. Today, Shanghai zinc continues to rise, and the spot market downgrades the discount quotation, which is relatively uniform. The ordinary brand Bering News is offering a rise of 80 yuan per ton for the 08 contract, and Hongyi is quoting a rise of 100 yuan per ton for the 08 contract. Chi Hong quoted a rise of 80 yuan per ton for the 08 contract, while the high-priced brand Zijin quoted a rise of 150 yuan per ton for the August contract, and Baiyin Bao quoted a rise of 60 yuan per ton for the 08 contract. The fourth Ring Road (delivered) quoted a rise of 70 yuan / ton for the 08 contract, and Ha Zinc (including the depot) quoted a rise of 60 yuan / ton for the 08 contract. Today, zinc prices rise again, superimposed Zijin brand arrival, high-priced brands lower rising water quotation, but shipments are still not smooth; downstream, after the absolute price center continues to move up, the willingness to receive goods is poor, remain weak just need to purchase. On the whole, the turnover in Tianjin market is still poor today. Zinc ingots traded at around 17970 / ton.

The mainstream transaction of zinc in Shanghai was 17910 Mel 18040 yuan / ton, while Shuangyan and Chihong traded at 17920, 18050 yuan / ton, while Shuangyan and Chihong reported water rising 40 won 50 yuan / ton in August. Shuangyan and Chihong quoted water 50 RMB60 / ton in August, and Shuangyan and Chihong sold 17850 Mel 17980 yuan / ton. Shanghai Zinc 2008 contract intraday high finishing operation, the morning market closed at 17685 yuan / ton. The smelter shipped goods normally, the ordinary domestic circulation on the market was slightly tightened, the demand of traders was supported by long orders, and the quotation was deadlocked at about 40 yuan / ton of water in August, and the acceptance of the consignor was limited; when it was transferred to the second trading period, the market was mainly to receive goods, and the quotation was raised to about 50 yuan / ton, and the overall transaction was mediocre. The market Shuangyan circulation is abundant, the quotation drops to the same price level as the domestic price, the transaction is weak, the absolute price is close to the high of 10000, the downstream inquiry purchase is few, only the purchase is just needed, and the overall transaction within the day is weak.

Tin: spot market. Today's quotation is 141000 murmur143500 yuan / ton. The tin market in Shanghai rose sharply this morning, with the average online price rising by 2250 yuan / ton. The price is high and the downstream of the market just needs to purchase. The spot rising water narrows the discount enlarges, the trader accepts goods is higher, the overall spot market transaction atmosphere is general. Liter discount, to Shanghai tin 2008 contract set Yunxi flat water to rise 500 yuan / ton, cloud word flat water near, small brand discount 2500 yuan / ton nearby.

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