[SMM afternoon Review] Nonferrous Plus Shanghai Aluminium Shanghai Nickel leads more than 2% higher in black concussion, higher in gold and silver, and floating red in gold and silver.

SMM6 March 11: most non-ferrous metals are red this morning. By midday trading, international copper fell 0.58%, Shanghai copper fell 0.59%, Shanghai aluminum rose 2.27%, Shanghai lead rose 0.39%, Shanghai tin rose 0.2%, Shanghai nickel rose 2.18%, and Shanghai tin rose 1.88%. For aluminum, SMM A00 (Foshan) quoted 19010 yuan per ton, which is 180 yuan higher than SMM A00 East China Aluminum. The selling price of Shanghai Aluminum 2107 contract is up 190 yuan / ton at 10:15. Today, the trading atmosphere of the spot market in South China is similar to that of yesterday, with more and less pickups, and the enthusiasm of shippers continues. The lowest discount to half a hundred before noon can be found everywhere, but middlemen and downstream wait and see, shipping is extremely difficult.

[SMM afternoon Review] South China Aluminum: spot rising Water narrows actual Trading margin

In terms of black series, thread rose 2.9%, hot coil rose 2.5%, coking coal rose 2.98%, coke 2.08%, iron ore 3.61%, stainless steel 3.97%, iron ore, it is understood that market rumors that production restrictions are expected to weaken, some steel mills in Tangshan area are expected to pick up demand for iron ore, superimposed on the recent lack of goods, leading to a decline in local port inventories. The supply of mainstream varieties is tight, and the price gap between Tangshan and Shandong has narrowed. The recent inventory of six major ports tracked by SMM continues to decline, especially the reduction of coarse powder is obvious; steel mills still have no reduction in the demand for mainstream powder ore in the near future; and the total inventory of building materials counted by SMM continues to decline, and the warming of the finished materials market still has support for iron ore prices.

Crude oil rose 0.25% in the previous period, and international oil prices fell on Friday, but oil prices will rise for the third week in a row as fuel demand in Europe, China and the United States is expected to recover as higher vaccination rates lead to deregulation of epidemic prevention restrictions. The US Energy Information Administration ((EIA)) reported on Wednesday that gasoline stocks rose by 7 million barrels and distillate stocks rose by 4.4 million barrels in the week ended June 4, both well above analysts' expectations.

In terms of precious metals, Shanghai gold rose 0.73% and Shanghai silver rose 1.54%. International gold prices hovered near the key level of $1900 an ounce on Friday, helped by a weaker dollar and lower yields on U.S. Treasuries. investors are comfortable with the data that show a rise in US inflation and hope that the Fed will not change its dovish stance. Data released on Thursday showed that the US consumer price index ((CPI)) rose strongly in May, the biggest year-on-year increase in nearly 13 years, and the number of first-time claims for unemployment benefits fell to its lowest level in nearly 15 months last week.

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