SMM4 March 8: metal ups and downs during the day, the minutes of the overnight Fed meeting did not obviously reveal hawkish views, and the downward pressure on risk assets eased. At the close of trading, Shanghai Copper fell 0.37%, Shanghai Aluminum rose 0.26%, Shanghai Zinc rose 0.75%, Shanghai lead fell 0.2%, Shanghai Nickel rose 0.86%, Shanghai Tin fell 0.95%, and International Copper fell 0.34%.
In terms of tin, according to the Bureau of Statistics, the cumulative output of domestic tin mines from January to February in 2021 was 16975 tons, an increase of 25.58 percent over the same period last year. Previously, customs data showed that the cumulative import of tin ore from January to February was 20535 tons, calculated based on the average grade of 25% of imported tin ore, about 5134 tons of tin ore metal was imported from January to February. The above output and imports add up to the total domestic tin supply of 22109 tons from January to February, which is basically the same as the domestic primary tin output of 22063 tons from January to February according to SMM statistics.
[SMM Analysis] from January to February, domestic tin mines increased by 26% compared with the same period last year to make up for the decline in tin ore imports.
According to a survey by SMM, domestic refined tin output in March was 14436 tons, an increase of 22.04 percent over the previous month, and an increase of 20.30 percent over the same period last year. The cumulative output from January to March was 42133 tons, an increase of 39.11 percent over the same period last year. The average operating rate of the survey sample is 63.45%. Some production enterprises that stopped production during the Spring Festival holiday resumed production in March and their output increased accordingly, but some enterprises cut production or stopped production due to equipment overhaul and raw material shortages, including some refineries in Guangxi, Jiangxi and Inner Mongolia.
[SMM survey] refined tin production increased by 20% in March compared with the same period last year.
For the black system, the thread fell by 0.23%, the iron ore fell by 0.56%, and the hot coil fell by 1.68%. The total inventory of hot-rolled coil this week is 3.5976 million tons, compared with last week-134300 tons, month-on-month-3.6%, year-on-year-36.34%. Volume price high shock transaction has weakened, superimposed holiday factors, hot volume total inventory decline narrowed this week. Overall, this week's hot volume inventory performance is OK, but from the recent transaction point of view, volume prices in the range of 5550-5650, the market fear of heights is strong, trading is weaker than the previous month, short-term volume prices may fluctuate to digest the market fear of heights.
[SMM hot volume inventory] the bottom support is strong, and the medium-and long-term volume price is still expected to rise.
Crude oil fell 1.49% in the previous period. International crude oil prices fell after official data showed an unexpected surge in gasoline stocks in the United States. The data raised doubts about falling demand in the US, the world's largest oil consumer, against a backdrop of rising global crude oil supplies.
In terms of precious metals, Shanghai gold rose 0.29% and Shanghai silver rose 0.82%. Gold strengthened again as the dollar index weakened again, but market participants reviewed the minutes of the Fed's latest March meeting. Recent economic data show that the economy is recovering from the effects of the epidemic faster than expected, pushing up the price of risky assets. U. S. stock index futures edged higher on Thursday, limiting gold's upside.
Close during the day
[stock market close] the index was among the top gainers in the afternoon, such as the weak concussion of the steel plate and so on.
The index fluctuated weakly in the afternoon, with individual stocks falling, up more than 9% and less than 60 stocks. The market was sharply divided and the rate of explosion was high. On the plate, the back row stocks of hot topics receded across the board, carbon neutralization and shipping led the decline, Silver Star Energy, Yueneng Holdings and other high bid plate out of the sky and earth board, near the end of the day, Titan shares, Anyang Iron and Steel, and a large number of individual stocks fried board, the market loss effect increased greatly, overflow funds flowed into medical, food and beverage, liquor and other clustered stocks, the concept of medical beauty rose sharply in the afternoon, and steel, non-ferrous, assisted reproduction and other plates rotated to pull up. On the disk, medical, steel, non-ferrous and other plates led the rise, while electricity, carbon neutralization, shipping and other plates led the decline.
As of the close, the Prev index rose 0.09% to close at 3482 points; Shenzhen rose 0.08% to close at 13989 points; and the gem index rose 0.70% to close at 2826 points. The net outflow of Shanghai shares is 1.315 billion, while that of Shenzhen stocks is 388 million.