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[SMM afternoon Review] Shanghai Zinc, Shanghai lead, Shanghai Nickel rose by more than 1%, colored blockbuster floating red and production restrictions pushed up steel prices.
Sep 1,2020 11:49CST
translation
Source:SMM
The non-ferrous metals market rose before noon today, with Shanghai zinc, Shanghai lead and Shanghai nickel all up more than 1%, while Shanghai aluminum fell slightly by 0.31%.
The content below was translated by Tencent automatically for reference.

SMM9 March 1: the non-ferrous metals market rose before noon today, with Shanghai zinc, Shanghai lead and Shanghai nickel all up more than 1%, while Shanghai aluminum fell slightly by 0.31%. In terms of aluminum, the latest inventory data of aluminum ingots maintain the characteristics of the off-season. The impact of the current off-season of consumption is still there, leading processing enterprises can maintain smooth start-up, while orders for small and medium-sized enterprises are still low, and the operating rate is not good, but the accumulated stock of aluminum ingots since August is only 50,000 tons, which is lower than expected. according to the current accumulation rate, it is expected that the growth rate of domestic demand in August will remain at about 10% compared with the same period last year. The current stock accumulation speed is limited in the off-season, and the support of low inventory is very strong. We should pay attention to the downward rhythm of aluminum prices and the follow-up inventory situation.

In terms of lead, from a fundamental point of view, some primary lead smelters such as Yunnan Chihong finished maintenance in August and resumed normal production. However, according to SMM research, a smelter recently began maintenance, which is expected to affect for a month. The output of the primary lead smelter is offset by the increase and decrease, and the production of the primary lead smelter is expected to be stable in September. SMM believes that the increase of recycled lead may still exist in September, while the lead battery consumption season is sluggish, the possibility of increasing purchasing demand from battery factories is unlikely, the overall trend of oversupply is still there, and the fundamentals are difficult to increase the upward force for lead prices, but the price of waste batteries may become a support, and lead prices are expected to maintain a volatile trend in the early September. "check details.

In terms of black, iron ore rose 0.18%, hot coil rose 1.23%, and thread rose 0.35%. Recently, there have been frequent rumors of tightening production restrictions in Tangshan, according to feedback from industry insiders, at present, individual regions are strictly implemented, but due to short-term restrictions, the impact is relatively limited. Moreover, according to the calculation of the SMM data model, based on the calculation of 125.15 US Gold Mine, the rebar profit of the long process steel plant has rebounded by 75 yuan / ton to about 117yuan / ton compared with the beginning of last week, and the hot coil profit remains at about 290yuan / ton, the production enthusiasm of the steel mill has not abated, and the demand for iron ore and other raw materials remains high. In September, we still need to pay attention to the impact of production restrictions on iron ore demand in Tangshan area.

In order to further do a good job in the work of openness of government affairs, the General Office of the Ministry of Housing and Urban-Rural Development recently issued key points for the work of openness The main points point out that we should do a good job in the current openness of government affairs, optimize the business environment, improve the institutional mechanism, deepen policy interpretation and response, and strive to improve the transparency of work and the service level of open government affairs. to provide strong support for promoting the high-quality development of housing and urban and rural construction. In the aspect of "centering on the implementation of the party's major policy decisions and arrangements and promoting the disclosure of power", it is necessary to strengthen the disclosure of power allocation information and solidly promote the standardization and standardization of government affairs at the grass-roots level. establish and improve the dynamic adjustment mechanism of government information management "Ministry of Housing and Construction: stabilize land prices, stabilize housing prices, stabilize expectations, strictly standardize market order and prohibit speculation!

Crude oil fell 0.41% in the previous period. Outer crude oil prices rose early in Asian trading on Tuesday, reversing overnight declines as investors sold safe-haven dollars to risky assets. Brent crude futures rose 27 cents, or 0.6 percent, to $45.55 a barrel. Us crude oil futures rose 21 cents, or 0.5 percent, to $42.82 a barrel.

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