SMM6 March 22: the whole line of non-ferrous metals is red in the morning. By midday, international copper rose 1.26%, Shanghai copper rose 1.23%, Shanghai aluminum rose 0.87%, Shanghai lead rose 0.91%, Shanghai zinc rose 0.79%, Shanghai nickel rose 3%, Shanghai tin rose 2.03%. In terms of aluminum, Shanghai Aluminum continued to repair its previous decline in early trading, with the focus moving closer to around 18500 yuan / ton, and spot transactions in East China concentrated 18500-18520 yuan / ton. The real-time rising water on the disk is concentrated at 30-40 yuan per ton, and the purchasing phase in East China will be active today, and the support for spot rising water will be enhanced. The overall flow of goods in the market has not increased significantly, relatively speaking, the flow of aluminum ingots in Gongyi area has increased, and some local warehouses have concentrated goods to suppress the existing rising water.
"there is a small recovery of aluminum in East China during the strong period of rising water.
In terms of lead, lead consolidation is maintained at a high level, some consignors offer goods at a high price, and the market quotation is chaotic. At the same time, recycled lead is shipped with large sticking water, and only rigid demand is purchased downstream, so the enthusiasm of inquiry is not high, and the transaction in the bulk market has not been significantly improved for the time being.
[SMM afternoon Review] SMM Shanghai lead market KuaiBao: lead high shock spot transaction has not improved significantly for the time being
For the black system, the thread fell 2.34%, the hot coil fell 2.99%, the coking coal fell 0.82%, the coke fell 0.49%, the iron ore dropped 3.42%, and the stainless steel rose 2.64%. In the short term, the raw material end is dragged down by negative drag or weak operation, dragging down the vibrating center of gravity of finished wood. In the medium term, the supply and demand of raw materials is difficult to reverse, the downward space is limited, hot rolls are still expected to rely on 5000 points of support, shock operation. The fundamental power of hot rolling is insufficient, so it is necessary to guard against the downside risks caused by production restrictions that fall short of expectations.
The previous period of crude oil rose 2.11%, and international oil prices rose slightly on Tuesday. The United States and European markets still have high hopes for a rapid recovery in oil demand, and expectations for the early return of Iranian crude oil to the market have gradually weakened, and market confidence remains solid. The (EIA) of the US Energy Information Administration said last week that US crude oil inventories fell sharply in the week to June 11 and refinery capacity utilization rose to its highest level since January 2020, indicating that demand continues to improve.
In terms of precious metals, Shanghai gold rose 1.06%, Shanghai silver rose 0.43%, and international gold prices rose slightly on Tuesday, as the fall in the dollar boosted demand for gold, a safe-haven metal, and Federal Reserve Chairman Powell (Jerome Powell) will give a testimony to Congress later today. Speculators reduced their net long positions in gold on the New York Mercantile Exchange (COMEX) and increased their net long positions in silver in the week ended June 15, according to the Commodity Futures Trading Commission.
Close by noon
"check the metal futures market.
