[SMM Daily Review] non-ferrous metals rise and fall each other. Black weak operation coking coal has withdrawn more than 20% in this month.

SMM5 March 21: non-ferrous metals rise and fall each other today. At the close of trading, international copper fell 1.40%, Shanghai copper fell 1.25%, Shanghai aluminum fell 1.76%, Shanghai lead rose 0.0.77%, Shanghai zinc rose 0.31%, Shanghai nickel fell 3.20%, and Shanghai tin rose 1.33%.

In terms of copper, today, the main 07 contract of Shanghai Copper jumped slightly and opened low again. In early trading, it was arranged around a narrow range of shocks of 72700 yuan / ton, but the overall focus of operation showed a downward trend. After the second period of time, under the drag of a 3% drop in aluminum in Shanghai futures, the basic metals fell one after another. Shanghai copper fell sharply to the bottom of 71800 yuan / ton, and then went out of the deep V trend under the short position and returned to the vicinity of 72580 yuan / ton. In the afternoon, the center of gravity moved up slightly again by a high of 72750 yuan / ton, and then fell back around 72390 yuan / ton in a narrow range, then moved down slightly again in the late afternoon, and finally closed at 72160 yuan / ton. [brief Review of SMM Copper Futures] short sellers took back the initiative. At one point, the price of copper in Shanghai fell below 72000 yuan / ton, breaking the 20-day moving average and ending the rally since May.

As for aluminum, due to the continuing grim power supply situation in Yunnan Province, Southern Electroweb informed that it will lower the electricity load of the Yunnan aluminum electrolysis plant by more than 30% by May 23, which is expected to last until mid-June. According to the statistics of SMM (SMM), Yunnan has an operating capacity of 3.86 million tons of electrolytic aluminum at the end of April 2021. According to 30% of the operating scale of electrolytic aluminum, the production reduction is expected to affect the operating capacity of 1.158 million tons per year, and the monthly output will be reduced by nearly 100000 tons. Under the premise of the end of the power cut, due to the time required from the power outage to the restart of the electrolytic cell, the output affected by the reduction is expected to be between 10 and 190000 tons, and the shutdown capacity will be restored as early as July. [SMM Analysis] the short-term production capacity of electrolytic aluminum will be reduced by more than 1 million tons in a short period of time.

In terms of lead, according to a survey by SMM (SMM), the weekly operating rate of SMM primary lead smelter was 61.3% this week (May 15 to May 21). This week, the operating rate of primary lead smelter increased by 3.6% month-on-month. [SMM investigation] the operating rate of primary lead smelter resumes maintenance as planned and rises again.

As for zinc, according to SMM, as of Friday, the total inventory of SMM seven zinc ingots was 166200 tons, down 5000 tons from Monday and 10100 tons from last Friday. [SMM data] the social inventory of SMM seven zinc ingots decreased by 10100 tons compared with last Friday.

In terms of tin, customs data show that in April 2021, refined tin exports totaled 1466 tons, an increase of 56.12 percent over the previous month, and an increase of 223.84 percent over the same period last year. From January to April, exports totaled 3617 tons, a cumulative increase of 152.58 percent over the same period last year. The import of refined tin in April was only 257 tons, up 151.96% from the previous month, down 78.30% from the same period last year. X imported a total of 2346 tons from January to April, down 41.69% from the same period last year. . [SMM analysis] exports of refined tin continued to grow steadily in April

For the black system, the thread fell by 0.74%, the hot coil increased by 0.02%, coking coal by 50.74%, coke by 4.30%, iron ore by 3.39% and stainless steel by 0.66%. The black system as a whole is still weak, with Shuangjiao leading the decline, with coking coal down more than 20 per cent from its May peak. According to SMM statistics, the import of stainless steel in April 2021 was 224000 tons, an increase of 10.13 percent from the previous month, an increase of 95.9 percent over the same period last year; exports (excluding stainless steel and its products) were about 410500 tons, an increase of 24.85 percent from the previous month, an increase of 31.09 percent over the same period last year, and the total export volume of stainless steel was about 498400 tons. In terms of export volume, the total export volume in April was nearly 500000 tons, an increase from March. [SMM analysis] stainless steel exports reached an all-time high of nearly 500000 tons in April 2021.

The previous period of crude oil fell 2.77%, crude oil continued to fall on Friday, affected by the expected return of Iranian crude oil. And Asia has become the hardest hit area of the novel coronavirus epidemic, and the number of new cases in India remains high, affecting oil demand.

In terms of precious metals, Shanghai gold fell 0.21%, Shanghai silver fell 1.27%, precious metals fluctuated, gold prices remained stable on Friday, and are expected to record weekly gains for the third week in a row, as the weak dollar and inflationary pressures boosted demand for safe-haven gold. The price of silver fell due to the influence of the price of industrial metals, and the overall performance was weaker than that of gold.

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[stock market close] the three major A-share indexes closed slightly lower, carbon neutralizing and active Huayin Electric Power four consecutive boards.

The three major stock indexes fell slightly today. They all fell by less than 1%. As of the close, the Prev index fell 0.58% to close at 3486.56 points; the Shenzhen Composite Index fell 0.81% to close at 14417.46 points; and the gem index fell 0.97% to close at 3113.26 points. In terms of plates, paper printing, power industry, iron and steel industry, and non-ferrous metals were among the top gainers, the concept of carbon neutralization continued to be active, carbon neutralization plates strengthened in the afternoon, Huayin Electric Power strongly pulled up and touched four consecutive plates, and brokerages, aerospace and airports were among the top decliners. "View details