Home / Metal News / Precious Metals / [SMM afternoon Review] non-ferrous metals fell across the board. It is difficult for the black department to be alone. The last period of crude oil fell by 0.68%.
[SMM afternoon Review] non-ferrous metals fell across the board. It is difficult for the black department to be alone. The last period of crude oil fell by 0.68%.
Jul 16,2020 11:53CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 16: Thursday morning, the non-ferrous market fell collectively, including Shanghai copper, Shanghai aluminum, Shanghai lead, Shanghai nickel fell more than 2%, Shanghai zinc and tin fell more than 1%. At the macro level, data released by the Bureau of Statistics in the morning showed that according to preliminary calculation, the GDP in the first half of the year was 45.6614 trillion yuan, which was 1.6% lower than the same period last year at comparable prices. On a quarterly basis, it fell 6.8% in the first quarter from the same period last year, and increased by 3.2% in the second quarter. The higher-than-expected rise in GDP in the second quarter shows that China's economy has rebounded rapidly, and President Xi also said that the fundamentals of China's long-term improvement in the economy have not changed and will not change. But on the other hand, expectations of stimulus policies may fail, which will be bad for the market to a certain extent. In terms of aluminum, on July 16, the trend of slowly de-stocking continued. According to SMM statistics, the weekly inventory of electrolytic aluminum in China dropped slightly by 4000 tons to 708000 tons. "check the details.

In addition, the 2020 China (Yingtan) Copper Industry Summit Forum and the 15th China International Copper Industry chain Summit, jointly sponsored by Jiangxi Yingtan people's Government, Jiangxi Copper Industry Co., Ltd., Shanghai Nonferrous Metals Industry Association and Shanghai Nonferrous Network Information Technology Co., Ltd., opened ceremoniously in Shanghai. Experts from relevant industries / associations, university professors and corporate bigwigs will share their unique views with you. "check the details."

Black fell slightly across the board in the morning, rising a few days ago, coupled with a general decline in the commodity market today, and ferrous metals fell under pressure. Looking at the trading situation of building materials across the country, the northern market is not affected by the rainy season, and the demand continues to maintain a high degree of prosperity. On the other hand, the interference in the rainy season in southern China, such as Guangdong, has obviously decreased after late June, and the market transaction situation has also improved obviously. at the same time, considering that the current high thread output has a high probability of falling slightly, it is expected that the price of the building materials market will remain volatile and strong from July to August.

Crude oil fell 0.68% in the previous period, and China's crude oil production increased slightly in June and processing accelerated, according to data released by the National Bureau of Statistics on Thursday. In June, crude oil production was 16.24 million tons, an increase of 0.7 percent over the same period last year, and the growth rate was 0.6 percentage points lower than that of the previous month. 57.87 million tons of crude oil was processed, an increase of 9.0 percent, an increase of 0.8 percent over the previous month. In the first half of the year, crude oil production was 97.15 million tons, up 1.7 percent from the same period last year, down 0.7 percent from the first quarter; processed crude oil was 320 million tons, up 0.6 percent from the same period last year, down 4.6 percent in the first quarter.

Close by noon

Today's spot

Copper: today, the spot price of electrolytic copper in Shanghai is quoted at 20 to 50 yuan per ton in the current month, the transaction price of copper in flat water is 51080 yuan / ton to 51360 yuan / ton, and the transaction price of copper in Shanghai is 51090 yuan / ton to 51380 yuan / ton. Today, copper in Shanghai continued its overnight decline, falling more than 1,000 yuan, with a surface area of nearly 51000 yuan / ton. On the first day after the change of the spot market, the holder quoted a price of 30 yuan / ton for Pingshui copper in the morning market, and 40 yuan / ton for good copper. Traders led the morning market to buy actively. Pingshui copper could lower its price to 20 yuan / t, and the delivery volume increased significantly. Some downstream also entered the market to replenish stock after a continuous sharp fall, so the holder quickly raised the price of Pingshui copper to 40 yuan / ton in the second trading session, but the deal was deadlocked. Trading market conditions are not as good as before, good copper is difficult to synchronize with the rise, the degree of market favor is obviously inferior to flat copper; Wet-process copper narrowed slightly to 60 yuan / ton at a discount of 70m / t, and downstream replenishment was significantly better than at the beginning of the week. Today, copper futures in Shanghai fell below the 5-day moving average and pointed to the 10-day moving average, giving up its gains after surging 5% on Monday. Traders showed renewed activity and low rising water attracted them to enter the market. If the market decline slows down, the lower reaches of the market will gradually pick up and rise, and the rising water will show a steady and firm trend before the outflow of delivery sources.

Zinc: the mainstream turnover of Zinc ingots in Tianjin market was 17830 RMB17890 / ton, Zijin was traded at 17880 RMB17930 / ton, Huludao was quoted at 19240 RMB / ton, Zine Zinc was generally quoted around 100RMB / ton to 120RMB / ton for 2008 contract, Zijin for August contract was quoted about 150RMB160 / ton, and the price of Tianjin fell from 40 yuan / ton to about 20 yuan / ton compared with Shanghai stock market. Today, the weak consolidation of zinc in Shanghai, the spot market to maintain a rising discount price, the price is relatively uniform, the ordinary brand Bering News quoted a rise of 110 yuan per ton for the 08 contract, Hongyi quoted a rise of 120 yuan per ton for the 08 contract, Chi Hong quoted a rise of 100 yuan per ton for the 08 contract, and the high-priced brand Zijin quoted a rise of 150 yuan per ton for the August contract, while Baiyin quoted a rise of 100 yuan per ton for the 08 contract. The fourth Ring Road (delivered) quoted 100 yuan / ton of water for the 08 contract, and Ha Zn (including the depot) quoted 60 yuan / ton for the 08 contract. Today, the decline in zinc prices widened, and traders maintained the rising water quotation, and Zijin Factory made a straight price shipment in the morning, but when the transaction was not smooth, the water was also reduced to 160 yuan / tonne. Downstream, the absolute price fell again today, but downstream enterprises are not willing to receive goods, maintaining the need for weak procurement. On the whole, the turnover in Tianjin today is the same as that of yesterday. Zinc ingots traded around 17,760 million yuan per ton.

The mainstream transaction of Ningbo Gao was 17850 Mel 17950 yuan / ton, and the price difference between Ningbo and Shanghai ordinary brands remained near Pingshui since yesterday. The price of ordinary brands in Ningbo was sold at around 2008 RMB per ton. Today, zinc prices are adjusted slightly, Ningbo market traders follow Shanghai traders to raise prices, some traders offer high prices, but some traders actively ship prices on the low side, even at a discount to Shanghai. In the first trading session, Tiefeng reported a rise of 90 yuan per ton for the August contract, a rise of 70 yuan per ton for the August contract, and a rise of 100 yuan per ton for the August contract. Huize did not arrive. Entering the second period of time, there is no obvious change in the rising water in the market, today's zinc price is slightly adjusted, the downstream inquiry is increasing, but the actual turnover is still light.

Tin: spot market. Today's quotation is 139500 RMB142000 per ton. Shanghai tin noodles this morning are down about 1500 yuan / ton compared with yesterday morning, and the average net price is down 750yuan / ton. Spot prices decline, but downstream buying is difficult to flourish, rising stickers are not ideal, traders hold a wait-and-see attitude, manufacturers' shipments are still general, and the overall trading atmosphere in the Shanghai-tin spot market is generally weak. In terms of liter discount, the price of Yunxi in Shanghai tin 2009 contract suite is 1000mur1500 yuan / ton, Yunzi 500 yuan / ton, and the small-brand discount is about 1500 yuan / ton.

Updating.

Scan the QR code and join the SMM metal communication group.

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