SMM12 March 14: most of the non-ferrous metals market is green in the morning. by midday, international copper is down 0.6%, Shanghai copper is down 0.55%, Shanghai aluminum is down 0.18%, Shanghai lead is down 0.1%, Shanghai nickel is up 2.11%, Shanghai zinc is down 1.06%, and Shanghai tin is slightly up 0.01%. In terms of nickel, fundamentals, although there is no strong support and good news, it is also a marginal improvement pattern. Spot prices and market sentiment have stabilized after the production reduction plans of Synchronize in both stainless steel plants and nickel pig iron plants. On the other hand, under the condition that the consumption of electrolytic nickel market is stable and the import volume is limited by the ratio, the domestic inventory decreases to the annual low, which tends to be more profitable.
"[important] Shanghai nickel once soared 3% stainless steel and nickel pig iron plant production reduction plan to support prices pay attention to high risks!
In terms of lead, Shanghai lead bottomed out in early trading and rebounded to a high of 15030 yuan / ton after pressure consolidation. Lead rebounded to boost refinery procurement enthusiasm, waste battery prices remain high and stable. Recycled lead positive price shipments, lead rebounded after the emergence of cherished sales sentiment, recycled refined lead mainstream quotations on the SMM1# lead average price discount of 250,300 yuan / ton factory, at the same time, lead rising also boost downstream procurement enthusiasm, trading activity has improved compared with the previous period.
[SMM afternoon Review] recycled lead: lead bottomed out and rebounded downstream trading activity increased
In terms of zinc, the mainstream trading of zinc ingots in Tianjin market is 21510-21610 yuan / ton, Zijin is traded at 21560-21630 yuan / ton, Huludao is quoted at 23120 yuan / ton, zinc is generally quoted around 50,100 yuan / ton for 2101 contract, Zijin is quoted around 100,120 yuan / ton for January contract, and the discount in Tianjin is about 30 yuan / ton compared with Shanghai market.
[SMM afternoon Review] Tianjin Zinc: forward Price Down Market up-to-Price Shipping
In terms of black, thread fell 2.29%, hot coil fell 1.14%, coking coal fell 3.38%, coke fell 2.08%, and iron ore fell 3.26%. At present, the supply of rebar is stable and demand is slightly weaker, and the fundamentals are still slightly weak. coupled with the market after this week's "carnival", fear of heights ferment, spot prices most likely need to go through a cooling-off period. However, mineral prices are skyrocketing, the cost of steel mills is soaring, the willingness to stand up on Synchronize is enhanced, and the cost support of steel prices is gradually reflected, so it is expected that steel prices will enter a weak and volatile period in the short term, while the upper side resistance will be gradually reflected, while the lower space will be squeezed.
The last period of crude oil fell 0.63%, international oil prices rose on Monday, Brent crude oil futures returned above $50 a barrel, supported by hopes that the novel coronavirus vaccine listing will boost global energy demand, and the extension of the withdrawal talks eased concerns. On the 13th, Redfield, director of the (CDC) of the US Centers for Disease Control and Prevention, said in a statement that the license for Pfizer novel coronavirus vaccine had been formally signed, allowing vaccination work to be promoted in the United States, and the vaccine distribution task began. Sources also revealed that starting from the 14th, vaccines will be provided to senior officials, including US President Donald Trump.
In terms of precious metals, Shanghai gold fell 0.27%, Shanghai silver fell 0.81%, and spot gold fell on Monday as the launch of novel coronavirus vaccine in the United States increased the willingness to take risks, offsetting hopes of increased economic stimulus in the United States and the supporting effect of a weak dollar. The text of the $908 billion novel coronavirus rescue plan proposed by the Democratic and Republican parties will be released as soon as Monday and will be split into two plans for approval, according to a person familiar with the matter.
Close by noon
"Click to see the metal futures market.
