SMM3 March 2: most of the non-ferrous metals market fell today. By the end of the day, international copper fell 1.33%, Shanghai copper fell 1.14%, Shanghai aluminum fell 1.14%, Shanghai lead fell 0.23%, Shanghai zinc rose 1.1%, Shanghai nickel fell 1.17%, and Shanghai tin fell 3.6%. In terms of tin, SMM believes that the main factor driving the previous strong rise in tin prices is the market's concern about domestic and foreign supply, but after the Spring Festival, tin prices have risen too fast under the pursuit of speculative funds. Although the supply gap still exists, the excessive rise in tin prices has brought greater pressure on market consumption, and the purchasing demand and operating rate of downstream users have been affected under the pressure of sharp increases in costs. The downturn in consumption led to a higher-than-expected post-holiday accumulation, which put pressure on the trend of tin prices.
On the copper side, from the macro point of view, the US Markit manufacturing PMI final value of 58.6 in February, the largest expansion rate in three years, led the US dollar index to recover strongly and return to above 91. As a result, copper prices have been significantly suppressed, and the overall trend of downward revision and consolidation has been maintained. Today, the copper in Shanghai is overcast, leaving a long shadow line, the opening of the KDJ line continues downward, the MACD line red column continues to shorten, and the solid column is still supported by the 10-day moving average. In the evening, we will continue to pay attention to the actual retail sales data in Germany in January and the non-quarterly CPI annual rate in the euro zone in February to see whether the bearish sentiment in the outer disk can lead to the stabilization of copper prices.
[brief Review of SMM Copper Futures] Lun Copper lost US $9000 in Shanghai Copper and lost 66000 yuan / ton in the falling market.
In terms of zinc, the daily contract for 2104 of Shanghai zinc is opened at 21185 yuan / ton. During the day, zinc maintained a strong concussion. Zinc opened in the early morning trading around the daily moving average up and down, hitting an intraday low of 21090 yuan / ton. The bulls gradually increased their positions in the afternoon, and zinc was pulled up rapidly, breaking through the daily moving average and hitting an intraday high of 21650 yuan / ton after high concussion. It finally closed up 21560 yuan / ton, up 235 yuan / ton, or 1.1%. The position increased by 4134 hands to 75934 hands. Zinc gains a positive line in the future. Consumption in the lower reaches of the festival is expected to boost zinc prices. At night, we need to keep an eye on the intersection of the 5-day and 10-day moving average, and zinc price volatility is expected to rise.
[brief Review of Zinc in SMM] Zinc may stand at a stable support level during the period of zinc closing.
For the black system, the thread rose 1.83%, the hot coil rose 1.13%, the coking coal rose 3.87%, the coke rose 1.41%, and the iron ore rose 1.49%. In terms of threads, so far, the output of building materials affected by the overhaul of steel mills in March is 898400 tons, which is 135600 tons less than that in February. With the steel plant overhaul and resumption of production, the operating rate of electric furnace plant and billet adjustment plant rebounded rapidly, and the overall scale of rebar showed an increase in March. It is expected that the output will return to the pre-festival level within 1-2 weeks, and there is still room for weekly output increment of at least 20-300000 tons. However, when the demand for Synchronize picks up, there is still strong support at the bottom of the spot price, and the short-term probability is still dominated by strong shocks.
The previous period of crude oil fell 4.94 per cent, and international oil prices fell more than 1 per cent on Tuesday, extending the decline that began last week on expectations that the Organization of Petroleum Exporting countries ((OPEC)) will agree to increase crude oil supply at this week's meeting and fears of a slowdown in Chinese demand have dampened sentiment. Analysts pointed out that concerns about an increase in OPEC supply, coupled with Saudi Arabia from this month to end voluntary production cuts of 1 million b / d, put pressure on oil prices. Crude oil production by the Organization of Petroleum Exporting countries ((OPEC)) fell in February as Saudi Arabia voluntarily cut additional production on the basis of the OPEC alliance's production reduction agreement, according to a survey. OPEC production has increased for the seventh month in a row.
In terms of precious metals, Shanghai gold fell 1% and Shanghai silver fell 1.97%. International gold prices fell to an eight-and-a-half-month low on Tuesday as a stronger dollar and rising U.S. Treasury yields undermined investors' appetite for gold, a non-sinister asset. Analysts point out that the potential for rising bond yields is putting pressure on gold, while a stronger dollar is also contributing to gold's decline. He added that the small fall in 10-year bond yields was "too small to be ignored".
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[stock market close] Prev defends 3500 points and other environmental concepts such as carbon neutralization are hot.
The index fluctuated down throughout the day, individual stocks fell, up more than 9% of stocks less than 50, the market moneymaking effect is not good, the mood has fallen. On the plate, holding stocks once again opened the kill mode, Guizhou Moutai fell by more than 5% at one time, chemical industry, non-ferrous metals and other main lines plummeted along the cycle, capital inflows into carbon neutralization concept game are expected, environmental protection, electric power, UHV, wind power and other branches have strengthened one after another, agriculture, military industry, sub-new stocks and other concepts have been pulled up in the market; Individual stocks, even the board highly compressed to 3 boards, Taurus Chemical and other high standards plummeted, the overfall rebounded a stock Rendong Holdings, Jimin Pharmaceutical differences increased. On the whole, the mood is in a period of ebb, waiting patiently for the market to stabilize. On the disk, carbon neutralization, environmental protection, ultra-high pressure and other plates led the increase, while chemical, non-ferrous, mining services and other plates led the decline. As of the close, the Prev index fell 1.21% to close at 3508 points; the Shenzhen Composite Index fell 0.71% to close at 14751 points; and the gem index fell 0.93% to close at 2966 points. The net outflow of Shanghai shares is 3.313 billion, while that of Shenzhen stocks is 3.477 billion. "View details
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