SMM7 March 17: today's non-ferrous metals market green manure red thin, the deadline closed, Shanghai lead fell 1.09%, Shanghai nickel fell 0.88%, Shanghai aluminum fell 0.28%, Shanghai copper rose 0.29%, Shanghai tin rose 0.4%, Shanghai zinc rose 0.79%. In terms of nickel, the local government decided to enter a 30-day state of emergency after flooding hit six areas in the Luwu region northwest of South Sulaway. The state of emergency runs from July 14 to August 12, 2020. According to the latest statistics from the North Luwu disaster reduction Department, 32 people have died in the area, with a total of 3627 families, and about 14483 people are homeless, who can only live in nearby disaster relief sites. In addition, bridges between villages have been cut off by floods, and provincial roads have been covered with 1 to 4 meters of mud. According to SMM research, the flood disaster is located in the south of Sulawesi, far away from the ferronickel production enterprises (the distribution map is shown below), and has not yet affected the normal production of the relevant nickel-iron plants in Indonesia. If the situation continues, it may affect local mine shipments.
[SMM brief Review] Indonesia's Luwu region enters a state of emergency and tracking the impact of local nickel and iron plant production.
In terms of black, thread rose 0.19%, hot coil rose 0.03%, stainless steel rose 0.04%, coke rose 2.59%, coking coal rose 0.92%, iron ore fell 0.42%, hot roll total inventory this week 3.7685 million tons, month-on-month + 3.72%, year-on-year + 10.74%. Since the end of June, the hot volume has accumulated for 4 consecutive weeks, and this week it is affected by the synchronous wide accumulation of the factory social library, and the overall accumulation range is higher than that of previous weeks. On the news side, the National Energy Administration said that on the premise of ensuring that the prevention and control of the epidemic is in place, organize relevant enterprises to speed up the preliminary work of coal mine projects and promote the construction of large-scale coal mine projects under construction and new construction in an orderly manner. We will organize key areas to establish a work contact mechanism, summarize the progress of coal mine work resumption, and promptly study and coordinate the problems existing in coal mine work resumption. at present, the rate of coal mine work resumption has reached 92.1%.
Crude oil fell 1.64% in the previous period, and recently, major oil-producing countries are preparing to relax production reduction measures, a surge in new crown cases in several countries, and increased uncertainty over a global recovery in fuel demand, increasing the risk of a short-term pullback in oil prices.
As of today's day close:
Today's capital flow
A brief comment on SMM analysts on July 17th
Zinc: intra-day Shanghai zinc main 2009 contract opened at 17870 yuan / ton, intraday long and short alternately reduced positions and left, zinc morning market shock fell to 17705 yuan / ton, afternoon short left zinc upward repair, backfilling almost all decline, the final close rose 17860 yuan / ton, up 155yuan / ton, up 0.88%, trading volume decreased 29123 to 118000, position decreased 862 to 82064. Zinc in the future received a small positive pillar, and market sentiment warmed up after the release of macro negative sentiment, coupled with the reduction of social inventory this week, zinc suspended the downward trend, and zinc may continue to run around the 5-day moving average in the evening, but the macro uncertainty is still strong. We need to be vigilant.
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