[SMM Daily Review] Shanghai lead rose more than 2 per cent to break all-time highs, gold and silver both fell more than 1 per cent and strengthened again

SMM3 March 30: the non-ferrous metals market has its ups and downs today. by the end of the day, international copper fell 0.86%, Shanghai copper fell 0.87%, Shanghai aluminum fell 0.6%, Shanghai lead rose 2.36%, Shanghai zinc rose 0.48%, Shanghai nickel rose 0.17%, and Shanghai tin rose 0.36%. In terms of lead, according to SMM research, as of March 29, the total inventory of SMM lead ingots in the five places reached 52500 tons, down 3700 tons from March 26 and 10600 tons from March 22. At present, domestic primary lead refineries begin to be overhauled, and the social inventory of lead ingots continues to decline, but in the context of refinery maintenance, the warehouse of recycled lead plants is still increasing, or the subsequent lead prices are under upward pressure. On the whole, SMM believes that the future should continue to pay attention to the publication of various economic data indicators in Europe and the United States, as well as ….

[SMM Analysis] Refinery overhaul lead ingot inventory continues to decline and Shanghai lead rises for three days in a row

In terms of black series, threads fell 0.14%, hot rolls rose 1.61%, coking coal rose 1.82%, coke fell 0.07%, iron ore fell 0.86%, and stainless steel rose 1.7%. Recently, the supply and demand pattern of steel is strong, and yesterday's volume rose sharply, and the spot market price rose 110-180 yuan / ton compared with last Friday. After the early quotation rose, the market was more afraid of heights, the transaction was average, the transaction was mainly at a low price, and some merchants secretly reduced the profit of shipping and cashing in. The afternoon volume continued to strengthen, stimulating low-price trading to become more active. In addition, the recent surge in billet prices has attracted market attention. as of March 29th, Tangshanchang Lipu billet quoted 4770 yuan / ton, a record high. Billet prices skyrocketed, and even exceeded the finished wood price at one time, and the imbalance between supply and demand caused by production restrictions may be the main factor.

[SMM News] the black series finished products hit 5380 and then hit a new high.

The last period of crude oil rose 1.76%, sources said that Russia will support OPEC+ to keep production roughly unchanged in May, and Saudi Arabia may also continue its production reduction plan. In addition, Biden's new stimulus package may also once again boost the confidence of investors in the oil market. However, the news of another outbreak in Europe and the United States and the smooth navigation of the Suez Canal may be bad for oil prices.

In terms of precious metals, Shanghai gold fell 1.3% and Shanghai silver fell 1.44%. International gold prices fell to their lowest level in more than two weeks on Tuesday, as the pace of vaccination in the United States increased expectations of a rapid recovery in the country's economy, boosting yields on the dollar and U.S. Treasuries. this puts pressure on gold prices. U. S. long-term bond yields rose on expectations that Biden's infrastructure investment proposal will support economic growth.

Close during the day

"check out more metal prices.

[stock market close] the three major indexes closed up photovoltaic and rare earth stocks rebounded.

The index fluctuated horizontally in the afternoon, the yellow and white lines were separated, and individual stocks continued to fall, rising by more than 9% and nearly 70 stocks. On the plate, the concept of carbon neutralization was out of the tide, and high standards such as energy conservation fell by the limit in large quantities in early trading, but in late trading, funds returned to the power plate, Changyuan Electric Power performed the earth and sky board, part of the spillover funds flowed into the military industry, photovoltaic and other oversold Baotuan plate, CRO, medical and beauty direction was also favored by funds, the overall theme performance was in the doldrums, the Xinjiang plate set off a stop tide, and the rare earth plate pulled up. On the whole, there are signs of switching in the market style, large votes are strong and small votes are weak, and attention is paid to the persistence of weighted stocks. On the market, Xinjiang, medical beauty, military industry and other plates led the increase, carbon neutralization, environmental protection, tourism and other sectors led the decline. As of the close, the Prev index rose 0.62% to close at 3456 points, the Shenzhen Composite Index rose 0.85% to close at 13888 points, and the gem index rose 1.37% to close at 2771 points. Shanghai shares bought 4.333 billion yuan net, while Shenzhen stocks sold 525 million yuan.