SMM1 March 13: the metal market generally warmed up in the morning, but Shanghai Aluminum is still weak downward. By the close, Shanghai Copper was up 1.05%, Shanghai Aluminum was down 0.87%, Shanghai Zinc was up 0.1%, Shanghai lead was up 1.9%, Shanghai Nickel was up 3.38%, and Shanghai Tin was up 0.09%. In terms of copper, the slow improvement in downstream consumption is the main reason to depress the rising water, and the market expects that the volume of goods will increase in the future, so it is cautious about rising water. We expect that the spot premium will remain volatile before delivery and will not fall sharply, but there is a higher probability of concussion going lower after delivery.
SMM Guangdong copper spot market KuaiBao: downstream consumption has not improved for a long time, rising water is flat yesterday
As far as aluminum is concerned, according to SMM, near the end of the New year, the start-up of aluminum profile enterprises in the northern market in January has been weakened to varying degrees. This time, it focuses on the investigation of the holiday situation of profile enterprises in the northern region. There are a total of 20 profile enterprises in this survey, of which 14 are in Shandong, and 2 enterprises say they will have a holiday before January 25.
[SMM investigation] the weak start-up of small and medium-sized aluminum profile enterprises in North China in January is basically a holiday before February.
Around 11:00, spot transactions in East China were concentrated around 14840 yuan / ton in Wuxi, maintaining a flat to slightly discounted pattern in that month. Spot transactions were concentrated near 14855 yuan / ton in Hangzhou and 14830-14860 yuan / ton in Shanghai. Due to the rapid fluctuation of the disk surface, the instantaneous change of the monthly difference increases, and the price difference between the current month contract and the other month contract is up to 14860 yuan / ton.
[SMM Aluminium afternoon Review] near delivery, the monthly difference between Shanghai Aluminum and Shanghai Aluminium narrowed and the spot closed the deal with Shengshui every other month.
Lead, Shanghai lead rose strongly in early trading, the main contract to explore the first line of 14800 yuan / ton. Refineries wait and see, and the price of waste batteries rises slightly. Recycled lead smelters cherish to sell, the market restore lead supply is tight, the regional price difference of recycled refined lead is larger, such as Anhui, Guangdong and other abundant regions, the mainstream quotation on SMM1# lead average price discount 100,200 yuan / ton leave the factory, such as Jiangxi and other tight supply areas, and even some refineries reported to the average price of SMM1# lead 50 yuan / ton left the factory, downstream procurement enthusiasm is good.
[SMM afternoon Review] recycled lead: lead rising strongly regional price gap polarization of recycled lead
Tin, the main tin contract in Shanghai in the morning maintained a weak shock trend, consolidation around 153300 yuan / ton. The mainstream spot price of Shanghai tin is basically the same as that of yesterday, the spot price in circulation is less, and the discount is stronger. At present, the mainstream discount is: 500,500 yuan / ton for 2103 contract Yunxi, 300,500 yuan / ton for ordinary Yunzi and 1000 yuan / ton for ordinary Yunzi, and the small brand is flat. The market transaction atmosphere is general, some downstream enter the market to replenish goods.
[SMM afternoon Review] the spot price of Shanghai tin is flat compared with that of yesterday, and the rising water remains at flat water or rising water.
On the black side, the thread fell by 0.07%, the iron ore rose by 1.55%, and the hot coil rose by 0.05%. According to SMM research, as of January 12, the operating rate of 34 independent EAF steel mills with main building materials in the country was 81.97%, down 1.21% from last week. The main reduction came from East China, where the operating rate of electric furnace plants fell by about 3 percentage points. Recently, scrap prices have risen, with the biggest increase in East China (the price of scrap in East China has increased by 170-200 yuan per ton since January, while the price of rebar has generally increased by 40-130 yuan per ton in other areas), while the price of rebar is slowly falling, and the production profits of steel mills have shrunk sharply, resulting in a decline in their willingness to produce.
Crude oil rose 3.97% in the previous period. International crude oil futures rose in Asian markets on Wednesday, while US crude oil rose for the seventh straight day as industry reports showed a decline in US crude oil inventories and investors were unaffected by the worsening epidemic. Us February crude oil futures rose $0.43, or 0.8%, to $53.64 a barrel, up nearly 2% on Tuesday. ICE3 monthly Brent crude futures rose 54 cents, or 0.95 percent, to $57.12 a barrel. API reported that crude oil inventories fell by 5.821 million barrels in the week ended Jan. 8, compared with analysts' estimates of a decline of 2.3 million barrels.
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