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Review on spot Trading Day of SMM Base Metals on July 23rd
Jul 23,2020 18:32CST
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Source:SMM
Review on spot Trading Day of SMM Base Metals on July 23rd
The content below was translated by Tencent automatically for reference.

Copper: today, Apanlon Copper opens at US $6485 / ton, winding the daily average line horizontally. After the opening of Shanghai Copper, Lun Copper fell slightly to 6465 US dollars / ton before rebounding. However, affected by the concentration of short sellers, Lun Copper fell sharply to explore an intraday low of $6433.5 / ton, and rebounded upward after finding support at the bottom. Near the end of the Asian session, affected by the rise in oil prices, Lunchu climbed to an intraday high of 6532 US dollars / ton, but the high led the bulls to make a profit, and Lunchu gave up its gains slightly. Lun Copper closed at 6509 US dollars per ton, up 32 US dollars per ton, or 0.49 per cent, as of 17PUR 00. Germany's consumer confidence index for August, released today, improved better than expected, showing positive signs of economic recovery, adding investors' bets that the US would launch a new round of economic stimulus, offsetting concerns about geopolitical risks. push copper prices up. At present, Lunchu is positive, and the KDJ opening is narrowed, with a 5-or 10-day moving average underneath. In the evening, we will pay attention to the number of initial jobless claims in the United States in the week ended July 18, and whether Lun Copper can continue to rise in the performance test of the dollar index.

Today, the main force of copper in Shanghai opened at 51950 yuan / ton in the morning. after the opening, the center of gravity of copper price fluctuated narrowly around 51920 yuan / ton position, and then declined due to more flat entry into the market, and explored the intraday low of 51590 yuan / ton position. Copper prices rebounded at a low level, with the center of gravity rising about 100 yuan / ton to close at 51750 yuan / ton at noon. Opening in the afternoon, Shanghai Copper was operating smoothly near the 51710 yuan / ton first line. Near the end of the day, bullish copper prices rose to close at 51970 yuan / ton, down 460 yuan / ton today, or 0.88%. During the day, 09 contracts reduced positions by 2190 to 118000, mainly by long positions, while trading volume increased by 23000 to 172000. 08 during the contract day, positions were reduced by 2763 to 75000, mainly by long positions, while trading volume decreased by 19000 to 72000. Copper in Shanghai fell today, mainly as escalating tensions between China and the United States hit market optimism. Last night, under the influence of the US political provocation demanding the closure of the Chinese consulate in Houston, the copper night market in Shanghai opened low and the center of gravity shifted somewhat. Tensions between China and the United States continued to grow, investors were unnerved by new diplomatic disputes, and risk aversion rebounded to weigh on copper prices. Today, Shanghai copper negative, KDJ opening expansion, but there are still 5, 10-day moving average adhesion to the bottom. Wait for the outer disk guidelines at night to test whether the bulls can push again to support copper prices to continue to rise and stand firm at the 52000 mark.

Today, the spot price of electrolytic copper in Shanghai quoted a price of 30 yuan / ton to 100 yuan / ton for that month's contract, 51680 yuan / ton to 51990 yuan / ton for Pingshui copper, and 51730 yuan / ton to 52050 yuan / ton for Shengshui copper. Under the influence of the tense situation in Sino-US relations, all the non-ferrous basic metals turned green, the copper fell sharply overnight, and the copper in Shanghai fell back to below 52000 yuan / ton to as low as 51700 yuan / ton. The holder basically continues yesterday's quotation style, good copper water 80 ~ 100 yuan / ton, Pingshui copper water 30 yuan / ton, the market holds a cautious wait-and-see attitude; Entering the second trading session, copper prices fell, and the market was willing to buy flat copper with a rising water of 20 yuan / ton. After the transaction was significantly improved, the holders held firm quotations. Flat copper was concentrated in rising water 30 to rising water 40 yuan / ton, and good copper was maintained at about 100 yuan / ton, but the transaction was inferior to flat copper. After the copper price fell, the wet price narrowed slightly and remained around 50 yuan / ton. Copper prices fell after some downstream bargain replenishment, traders are mostly long single users, mainly to cut prices, rising water temporarily stable during the pullback. In the afternoon, the disk was arranged in a narrow range, and the center of gravity was slightly lower than that in the morning, and it was difficult to find low-cost supplies in the market. The holder held steady at 50 yuan per ton, while the good copper rose 90 yuan per ton, and the transaction price remained stable at 51710, 51830 yuan per ton.

Aluminum: Lomalco opened at US $1689.5 / ton this morning. In Asian session, Lunal finished sideways after a slight pullback in night trading, and the trend held steady, ending at US $1690.5 / tonne at 15: 00. In European time, bulls mainly increase their positions. Lun aluminum 30 points in the total continued to pull to an intraday high of 1702 US dollars / ton, Lun aluminum at the end of the plate to do horizontal finishing, as of 16: 53 Lun aluminum tentatively reported 1702 US dollars / ton. Day K temporarily closed in a positive line, the center of gravity is above the 5-day moving average, and the day is dominated by bulls. In the near future, we need to focus on the development of the current macro situation, and it is expected that Lun aluminum will maintain a strong trend in the evening.

The Shanghai Aluminum 2008 contract opened at 14375 yuan / ton in the morning, and the aluminum price reached an intraday high of 14480 yuan / ton in 20 minutes after the opening, and then the bulls made profits and reduced their positions. Aluminum futures fell and fell to 14340 yuan / ton at about 10:45 in the afternoon. In the afternoon, aluminum arranged and operated horizontally near the 5-day moving average, closing at 14395 yuan / ton at the end of the day, reducing its positions in 08 contract days by 3645 to 109583 hands, and the Shanghai Aluminum Index reduced its positions by 7544 to 379347 hands. The daily K closed at the positive line, and the center of gravity was the same as the 10-day moving average, an increase of 0.03%. Short positions were mainly reduced during the day. At present, the main contract of Shanghai Aluminum is still 08 contract, and it is in the phase of changing positions and changing months. The short positions are mainly reduced in the near future, and the aluminum back structure is continued. Fundamentals, low inventory superimposed the current spot liquidity is tight, aluminum futures prices below a certain degree of support, to maintain the early trend judgment unchanged.

Aluminum concussion fell before noon. In the morning, Wuxi and Shanghai spot prices of aluminum ingots were between 14550 and 14570 yuan / ton, and in the later period of 11:00, aluminum went down, the market price began to concentrate at 14540 Mel 14560 yuan / ton, which was 40 yuan / ton higher than yesterday's absolute price, and the spot water price was between 130Mel 160 yuan / ton, and the rising water was basically flat yesterday. The performance was firm, and the price in Hangzhou area was between 14570RMB14590 yuan / ton. Today, the supply of goods in the market is still loose, and there is no shortage of domestic brands, and trading in the morning is OK. A large family received goods normally in the market. Aluminum fell quickly after 11: 00, and the market wait-and-see mood gradually rose. Although the shippers are still active, the actual transaction is already too early. Downstream today is mainly on-demand shopping, because aluminum prices are higher than yesterday, today's willingness to buy goods is not high. The overall transaction in East China is mediocre today. In the afternoon, the market price is around 14530 RMB14550 / ton, and the price of water to the surface is around 150RMB / ton. only a very small amount of transactions are made among traders, individual brands quote around 14470 yuan / ton, and there are few transactions downstream.

Lead: within the day, Lun lead opened at US $1822 / ton, generally adjusted horizontally along the intraday moving average, with a pressure of US $1815 / ton at the top and a line support of US $1808.5 / ton at the bottom. As of 16chow 45, it temporarily closed at US $1813 / ton, down US $1 / ton, or 0.06%. Lun lead temporarily reported two consecutive negative, k-line entity under the 20-day moving average, KDJ index continued to downward exposure, coupled with the upper 5-day moving average pressure is large, the overall pressure on the technical surface of Lun lead is obvious. Today, LME lead stocks have increased for three consecutive weeks, adding another 10650 tons to 97575 tons today, which may boost short sentiment. At night, we should pay attention to the number of jobless claims in the United States that week, and beware of short selling dragging lun lead down further.

During the day, the 2009 contract for Shanghai lead opened at 14835 yuan / ton. In early trading, Shanghai lead adjusted horizontally between the intraday moving average and the 20-day moving average. in the afternoon, Shanghai lead continued to fluctuate, with long and short games fierce, with high positions reaching 14915 yuan / ton and low positions reaching 14820 yuan / ton, basically getting rid of night lows. At the end of the day, it closed at 14850 yuan / ton, down 130 yuan / ton, down 0.87%, the position increased by 929 to 22654, and the trading volume increased to 20791. Shanghai lead closed at Erlianyin, generally supported by the 20-day moving average, the low adjustment of the pressure-bearing daily average is mainly, the KDJ index is exposed downwards again, while the 10-day moving average above is bent down, the pressure becomes heavier, and the technical surface has a negative trend, but considering the fundamental cost support of regenerated lead, and the downstream trading activity is better, it is expected that Shanghai lead will still test the support strength of the 20-day moving average at night.

Shanghai market Mulun lead 14935 yuan / ton, Shanghai lead 2008 contract price 50 yuan / ton price; Jiangsu and Zhejiang market Muleng, Wanyang, Yuteng lead 14935 yuan / ton, Shanghai lead 2008 contract price 50 yuan / ton; imported KZ lead 14835 million 14855 yuan / ton, discount 50 million / ton to Shanghai lead 2008 contract. Lead concussion fell, and the shippers accompanied the shipments. Due to the tight supply of goods in the regional circulation, the price of refinery goods in the northern region rose, while there was no supply problem in Jiangsu, Zhejiang and Shanghai, and the trading market was general.

Guangdong market Nanhua lead 14875 yuan / ton, the average price of SMM1# lead flat quotation; Henan Jinli, Wanyang 14925 million 14975 yuan / ton, the average price of SMM1# lead 50 yuan / ton; Hunan Shuikoushan 14925 yuan / ton, the average price of SMM1# lead 50 yuan / ton (trader); Jiang Copper 14895 yuan / ton, the average price of SMM1# lead 20 yuan / ton. Yunnan small factory 14575 yuan / ton, the average price of SMM1# lead discount 300 yuan / ton. The high price of lead falls, the downstream purchases on demand, the refinery has fewer loose orders, and the price of trade supply is higher.

Zinc: during the day, Lun Zinc opened at US $2210.5 / ton. At the beginning of the day, it was arranged in a narrow range around the daily average line. The upper and lower space was less than US $20 / ton. In the afternoon, the US dollar was weak and the non-ferrous metal rose generally. Lun Zinc took advantage of the opportunity to pull up the zinc price in the short term to around US $2220 / ton. Entering the European trading moment, the upward trend of Lun Zinc did not change slowly and climbed to US $2229.5 / ton. After the high level was blocked, it returned to the daily average line and rearranged in a narrow range. As of 17PUR 30, Lun Zinc closed up at US $2216 per ton, or US $11 per ton, or 0.52 per cent. Lunzhizhu received a small positive pillar, mainly boosted by expectations of the global economic recovery, but intraday LME inventories soared by 16600 tons to 150000 tons, superimposed by the escalation of tensions between China and the United States, it is expected to have a strong performance in the evening, focusing on the support strength of the 5 / 10 line at night.

During the day, the main 2009 contract of Shanghai zinc opened at 17895 yuan / ton. At the beginning of the session, Shanghai zinc tried to touch high and fell back, the center of gravity fluctuated in a narrow range along the line of 17920 yuan / ton, and the bears gradually entered the market. The zinc plate slipped, fell through the daily average line near 17795 yuan / ton and corrected upward after finding support near the low 17795 yuan / ton. The center of gravity stabilized at 17910 yuan / ton horizontal finishing, continued the upward trend in the afternoon, the center of gravity moved up to 18040 yuan / ton, and finally closed down at 18065 yuan / ton, down 45 yuan / ton. The trading volume decreased by 0.25% to 190598 lots, while the position increased by 5373 lots to 94458 lots. Under the background of long shadow line and strong infrastructure consumption expectation, the social inventory is eliminated faster and the fundamental support is temporarily strong, but in the macro aspect, the uncertainty of Sino-US relations is still strong, so we pay attention to whether Shanghai Zinc can stand at the Wanba pass at night.

The mainstream transaction of zinc in Shanghai is 17910Mel 18040 yuan / ton, Shuangyan is 17920Mel 18050 yuan / ton, and the import transaction is 1788Mel 18020 yuan / ton. Shuangyan quoted water at 60mur80 yuan / ton in August, Shuangyan quoted water at 70mur90 yuan / ton in August, and imports quoted water at 40,50yuan / ton in August. The mainstream transaction was 17840 won at 17980 yuan per ton. Zinc bottomed out and rebounded, the morning market is mainly shipping, the long order is nearing the end, and the market demand is cooling. The quotation is rapidly lowered from 80 yuan / ton to about 60 yuan / ton, and a small amount is underreported to about 50 yuan / ton. The average price among traders has dropped from about 5 yuan / ton to 20 yuan / ton, and the price has fallen faster, coupled with the rising water falling, and the downstream mining purchases have increased slightly. The quotation in the second trading session remained stable at about 60 yuan / ton, with the market trading weakening with the recovery of the market, the overall intraday turnover was general, and the trading volume was slightly higher than yesterday.

The mainstream transaction of Ningbo Gao was 17890 RMB17990 / ton. The price difference between Ningbo and Shanghai ordinary brands changed from yesterday's Pingshui to around 20 RMB / ton. The average brand contract for ordinary brands in Ningbo was around 2008 yuan / ton. The price difference between Ningbo and Shanghai ordinary brands changed from yesterday to around 20 yuan / ton. Today's zinc price correction, due to the long order delivery in the near month, rising water in Shanghai fell, Ningbo market high-priced brand quotations fell. In the first trading session, Tiefeng News was near 100 yuan / ton for August contract, West Mining News was around 80 yuan / ton for August contract, Kirin was near 100 yuan / ton for August contract, Huize was around 150 yuan / ton for August contract, and Nanhua News was around 150 yuan / ton for August contract. Overall, today's market transactions are concentrated in low-cost brands, and the market turnover is significantly better than yesterday.

The mainstream transaction of zinc in Guangdong Province was 17820 won, 17,950 yuan per ton, and the quotation was concentrated on a premium of 10 million yuan per ton for the 2009 contract for Shanghai zinc. The discount on the Guangdong market was 60 yuan per ton less than that of the previous trading day, which was 30 yuan lower than that of the previous trading day. In the first trading session, the price fell today, the holder tried to raise the price, and the downstream bargain was slightly replenished, but the increment was limited, the market price was difficult, and the quotation was loosened in the later period. Kirin, Mengzi, Huize and Tiefeng quoted water for the Shanghai zinc contract in September. The second trading session, downstream demand is still weak, individual holders offer low, pressure on the market transaction price, the overall transaction is general. Kirin, Mengzi, Huize, Tiefeng quotes for Shanghai zinc contract in September, the rising water is 10Mu15 yuan / ton. Kirin, Mengzi, Tiefeng and Huize mainstream traded at 17820 RMB17950 per ton.

The mainstream turnover of zinc ingots in Tianjin market was 18010mur18110 yuan / ton, Zijin was traded at 18050mur18130 yuan / ton, Huludao was quoted at 19260 yuan / ton, Zinc was generally quoted around 19260 yuan / ton against 2008 contract, Zijin was quoted around 200yuan / ton for August contract, and the water price in Tianjin stock market was raised from 60 yuan / ton to about 110yuan / ton compared with Shanghai stock market. Today, Shanghai zinc has gone up and down, and the spot market has raised the discount quotation, which is relatively uniform. The ordinary brand Bai Ling Bao quoted a rise of 160 yuan per ton for the 08 contract, and Hongyi quoted a rise of 180 yuan per ton for the 08 contract. Chi Hong quoted a rise of 160 yuan per ton for the 08 contract, while the high-priced brand Zijin quoted a rise of 200 yuan per ton for the August contract, and Baiyin quoted a rise of 150 yuan per ton for the 08 contract. Ha Zinc (including out of the warehouse) is quoted in the 08 contract for a rise of 70 RMB80 / ton. Today's low zinc prices rebounded, due to Zijin August overhaul and Hongye overhaul reduction, superimposed due to the impact of the epidemic, the arrival of goods in Tianjin was affected; downstream, the downstream just need to purchase today, downstream enterprises wait and see mainly. On the whole, the deal was mediocre today. Zinc ingots were traded around 17890 Mill 17970 yuan per ton.

Tin: Lunxi electronic trading opened at US $17525 / tonne, moved down to US $17500 / tonne in the morning and fell again to US $17445 / tonne in the afternoon, rebounding slightly after hitting bottom. After the opening of European trading, the US dollar fell, and Lunxi pulled up sharply to US $17795 / tonne, with a pullback after peaking, as of 17:00. The latest price of Lunxi is $17695 / ton, which is positive, the lower shadow line is supported by the 5-day moving average, and the upper pressure is expected to be around $17800 / ton.

The main 2009 contract of tin in Shanghai opened at 142790 yuan / ton last night. Affected by the crisis in Sino-US relations, the bulls left the market in the mood of risk aversion after the opening. The tin concussion in Shanghai stock market went down to around 142000 yuan / ton, then swung sideways and jumped last night to close at 141230 yuan / ton. The bulls left at 141230 yuan / ton in the morning, jumped to the lowest point of the day, 140450 yuan / ton, rebounded after hitting the bottom, the bulls continued to leave in the afternoon, the center of gravity moved down again, briefly swung sideways, rose to close at 140450 yuan / ton, showing a negative line, down 1550 yuan / ton, down 1.09%, 37693 hands, 23622 positions, 3116 hands, and the physical part slightly broke through the 5-day and 10-day moving average. The lower shadow line is supported by the 20 moving average, and the lower support level is expected to be near the 20-day moving average of 140500 yuan / ton.

On the spot market, today's quotation is 139500 RMB142500 per ton. The tin market in Shanghai fell about 2000 yuan / ton compared with yesterday morning, and the average net price fell 1000 yuan / ton. Spot prices fell more sharply than yesterday, and buying interest in the lower reaches picked up somewhat. Futures fell, the price competitiveness of value-protected goods increased, and traders shipped better. The overall trading atmosphere in the Shanghai-tin spot market has warmed up compared with a few days ago. Liter discount, the Shanghai tin 2009 contract Yunxi rise about 1000 yuan / ton, near Yunzi Pingshui, small brand discount about 1500 yuan / ton.

Nickel: the Lunni Asian market opened at US $13080 / ton today, and the center of gravity was adjusted around the narrow range of US $13100 / ton until the afternoon. At 1400 in the afternoon, Lunni gradually broke through. After breaking through the 5 / 20 moving average in a row, it reached near the 10-day moving average of 13400 US dollars / ton before the start of the European session. After that, the rally remained unabated. After reaching a peak of US $13560 per ton, it began to fluctuate around US $13520 per ton, with an increase of more than 3%. As of 1815, Lenny temporarily closed at US $13530 per ton, up US $394 per ton, or 3 per cent. Lunni today relies on the support of the middle rail of the Bol line of 13000 US dollars / ton, superimposed Tesla calls for support to increase production of nickel mines, and the rebound momentum is effectively released. In the evening, we will pay attention to the number of jobless claims in the United States that week and the re-breakthrough of Lenny's pressure at the US $13600 / ton line.

Today, Shanghai Nickel 2010 main contract opened at 105410 yuan / ton, after opening, the narrow range fluctuated at 105250 yuan / ton, and then bulls slightly increased their positions. Shanghai Nickel rose to 106120 yuan / ton and was subjected to 5-day moving average pressure. Shanghai Nickel gradually fell back under short selling pressure, falling as low as 104670 yuan / ton, but before the close of the morning market, Shanghai Nickel stabilized again to the daily average line of 105250 yuan / ton. When trading opened in the afternoon, Shanghai Nickel still fluctuated in a narrow range, at about 14:00. Driven by the strengthening of the outer disk, short-term confidence within the day closed one after another. After recovering some of its overnight decline, Shanghai Nickel finally closed at 106040 yuan / ton. The settlement price fell by 1300 yuan / ton, or 1.21%. The trading volume was 689170, and the position increased by 9043. A long shadow line and a small masculine pillar were recorded today, and the entity was running between the 5 / 20 moving average. At night, pay attention to the trend of the outer disk and test the rebound energy of Shanghai Nickel.

Today, SMM1 Electrolytic Nickel is quoted at 104500 RMB105600 per ton. The spot price is still quoted for the 08 contract, and the change of the hedging plate may be postponed to next week due to the narrowing of the inter-month spread. Today's nickel price center of gravity hovered at 105000 yuan / ton, nickel prices fell after stimulating downstream inquiry procurement, the market trading atmosphere warmed up. Due to the reluctance of Russian nickel holders to sell, the Russian nickel discount narrowed to-400 yuan / ton to-300 yuan / ton. Downstream to pick up the goods, traders actively move goods, within the day the transaction is better. Jinchuan nickel liter water concentrated in the rise of about 500 yuan / ton, the supply of low-cost goods is less. The ex-factory price of Jinchuan Company is 105500 yuan / ton, which is not much different from the market price, and there is only a small amount of goods in Shanghai, so the turnover is less than that of Russian nickel. Today, nickel beans offer a discount of about 1100, 000 yuan / ton, which is weak in supply and demand.

 

 

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