SMM12 March 15: there are ups and downs in the non-ferrous metals market in the morning. By midday, Shanghai lead fell 1.61%, Shanghai Aluminum fell 0.58%, International Copper fell 0.21%, Shanghai Copper fell 0.19%, Shanghai Zinc rose 0.05%, Shanghai Nickel rose 0.52%, and Shanghai Tin rose 1.11%. In terms of nickel, last night, the Delong Indonesian production plant was looted by locals, and there was a fire in the factory area. Riot police have entered the factory area for control, and self-defense measures have been organized in the factory, but the situation has not been effectively controlled. Its specific impact on the production line needs to be tracked, but as the scene is under control, there are certain restrictions on vehicle transport and personnel movement, and follow-up details continue to be tracked by SMM.
"[sudden] Delong's production plant in Indonesia was robbed and smashed. At present, the scene is still under control.
In terms of lead, Shanghai lead was dragged down by the increase of short positions in early trading, stopping the decline to 14575 yuan / ton. Lead prices fell again, but the price of waste batteries remained high and stable due to high demand from refineries. Both the recycled crude lead and refined lead refineries are in a mood to cherish the sale, the recycled refined lead discount shrinks, the downstream replenishes the stock at a low price as needed, and the transaction is light.
[SMM afternoon Review] recycled lead: lead in the lead period has fallen sharply, but the discount on the sale of recycled lead has shrunk.
Zinc, Shanghai Zinc 2101 contract, the first trading session in the morning closed at 21490 yuan / ton, futures prices stopped falling and stabilized, the morning market ordinary zinc brand transactions and quotations concentrated on the SMM net average price discount of 5 yuan / ton, the market quotation in the morning to 2101 contract rose 120 yuan / ton, after the market receipt increased, the net average discount of 5 yuan / ton decreased, mostly near Pingshui; Entering the second period of time, high zinc prices consolidation, active market trading, holders of ordinary zinc brands rose at 130,000,000 yuan / ton; zinc rebounded low inventory in Shanghai began to gradually feedback to spot rising water, coupled with the recent limited inflow of other imported zinc, tight supply forced spot rising water.
[SMM afternoon Review] Shanghai Zinc: Shuangyan Huize is in short supply and the price difference of ordinary zinc continues to widen.
The mainstream turnover of zinc in Guangdong is 21380-21540 yuan / ton, and the quotation is concentrated on the 30-55 yuan / ton increase in the Shanghai zinc 2101 contract, and the discount of 70 yuan / ton in the Guangdong market is 20 yuan / ton higher than that in the previous trading day. In the first trading session, futures prices fluctuated, and downstream bargains were purchased, while the holders were mainly shipped at a relatively high price, and the quotation was basically the same as yesterday. Kirin, Mengzi and Huize quoted a price of 50-55 yuan / ton for the Shanghai zinc contract and 30 yuan / ton for Feilong. In the second trading session, futures prices rebounded, downstream market inquiries declined, traders depressed prices to receive goods, individual holders' quotations were lowered, and market trading was general. Kirin, Mengzi and Huize quoted a price of 45-50 yuan / ton for the one-month contract of zinc in Shanghai and 40 yuan / ton for Tiefeng. Kirin, Mengzi, Huize, Tiefeng, Feilong and other mainstream transactions in 21380-21540 yuan / ton.
[SMM afternoon Review] Zinc in Guangdong: buyers are mainly buying bargains downstream of the relative standing price of the consignors.
For the black system, the thread rose 0.4%, the hot coil rose 0.02%, the coking coal rose 0.1%, the coke rose 1.06%, the iron ore rose 0.1%, and the stainless steel fell 0.57%. In terms of hot coil, recently, although the overall supply of hot coil has increased, but the overall impact is relatively limited. Especially in East China, under the influence of the price difference, it is difficult for Northwood to fall, prompting its supply side to continue to decrease and regional inventory to continue to decline. On the demand side, driven by the strong demand for cold rolling, the overall steel needs not to be reduced. In particular, the production and marketing situation of the home appliance and automobile industry continues to improve, and the overall steel needs to be intact. However, it is worth noting that under the influence of high prices, the willingness to purchase at the terminal is greatly reduced, and the process of transmission from the social treasury to the terminal is not smooth, which is expected to hinder the price to continue to rise in the short term.
"under the support of the cooling fundamentals of the disk, the black system may show a high concussion trend.
Crude oil fell 0.56% in the previous period, and crude oil futures fell on Tuesday, as concerns about the launch of vaccines and tensions in the Middle East were outweighed by concerns about tighter epidemic prevention measures in Europe. Major European countries remain in blockade mode to curb the spread of novel coronavirus, which reduces fuel demand. Germany, the world's fourth-largest economy, plans to impose stricter blockades from Wednesday.
In terms of precious metals, Shanghai gold fell 0.12%, Shanghai silver rose 0.56%, and spot gold rose slightly, trading around 1827, as the start of novel coronavirus vaccination in the United States boosted optimism in the broader financial markets, and investors were counting on the resulting economic recovery. The UK, the US and Canada have been vaccinated respectively, increasing risk appetite, which has depressed the price of gold, but the severity of the epidemic in Europe and the United States has led to more epidemic blockades, and some bills are expected to be passed after the rescue package is split into two parts. this limits the further fall in gold prices.
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