SMM7 March 21: most of the non-ferrous metals were floating red yesterday. On the outer disk, Lun lead rose 0.85%, Lun Zinc rose 0.78%, Lun Xi rose 0.64%, Lun Copper rose 0.58%, Lun Nickel rose 0.53%, and Lun Aluminum slightly fell 0.03%. Lun copper closed higher on Monday, helped by optimistic expectations of a rebound in demand, a rebound in the economy of China, the world's largest consumer of metals, and supply disruptions mainly in South America, the world's leading producer of metals, pushed up metal prices. Domestically, shanghai zinc rose 1.05%, shanghai lead rose 0.91%, shanghai copper rose 0.88%, shanghai tin rose 0.78%, shanghai aluminum was flat, shanghai nickel fell 0.12%.
The dollar index fell 0.19% to 98.795, hitting a six-week low earlier in the day. Treasury Secretary Nuchin said Monday that President Trump has agreed to an action to seek another $1 trillion in economic aid. At the same time, Republicans have worked out preliminary proposals to consult with Democrats. Still, Congress will face a debate over the proposed stimulus package, which could boost safe-haven buying of the dollar.
U. S. stocks closed higher on Monday, led by technology stocks. The index is at an all-time high. Investors are concerned about the epidemic and the progress of vaccine research and development, corporate earnings reports, and negotiations on a new round of fiscal stimulus in the United States Congress. The Dow was up 8.92 points, or 0.03%, at 26680.87; the Nasdaq was up 263.90 points, or 2.51%, at 10767.09; and the S & P 500 was up 27.11 points, or 0.84%, at 3251.84.
In terms of crude oil, there was little change on Monday, with a rise in the number of new cases of crown pneumonia in many countries dragging down oil prices, but a series of positive news about candidates for the new crown vaccine. and ongoing negotiations on the EU recovery fund aimed at boosting the economy. Stocks of crude oil and oil products in the United States may have fallen last week, according to a preliminary survey released on Monday. The average estimate of six analysts shows that US crude oil inventories may fall by 2 million barrels in the week to July 17.
In terms of precious metals, COMEX gold futures rose for the second day in a row on Monday, with silver hitting a nearly four-year high as safe-haven demand was supported by a surge in new crown virus infections and expectations of increased stimulus measures. Some analysts have pointed out that the current exponential increase in gold's popularity is entirely due to all inflationary factors: yield curve, money printing, economic concerns and the epidemic.
In terms of data, Japan's non-quarterly merchandise trade account in June (billion yen), previous value:-8334, expected:-358, published:-2688, revised:-8382 (previous value).
Minutes of the Bank of Japan meeting: members agreed that tensions in global financial markets have been eased as a result of proactive fiscal and monetary policies.
China to July 20 one-year loan market quoted interest rate, the previous value: 3.85%, expected: 3.85%, announced: 3.85%.
Scan the QR code and join the aSMM metal communication group.
