[SMM Daily Review] Black gold and silver rose more than 1%, gold and silver fell slightly, colored more than floating red, Shanghai aluminum, Shanghai lead rose more than 1%.

SMM7 March 12: most metal markets are red today. By the end of the day, international copper rose 0.69%, Shanghai copper rose 0.51%, Shanghai aluminum rose 1.28%, Shanghai lead rose 1.02%, Shanghai zinc fell 0.47%, Shanghai nickel rose 0.8%, Shanghai tin fell 0.13%. Tin, Shanghai tin 2108 prices fell back today, returning to a high range, the later trend needs to pay attention to whether to re-increase positions and break through the key integer pressure of 220000. Taking into account that the fundamental situation has not changed significantly, the overall trend is still viewed as a more volatile trend.

[SMM tin brief review] Tin prices rise, reduce positions and fall back, and fundamentals support high shocks.

Lead, the daytime lead spot market trading cautious, there is Weigao Shen emotional rigid demand to buy mainly. The smelter discount has not narrowed with the rise of lead, and the holder of the delivery brand has a strong intention to deliver the position. Social inventory accumulates on schedule during the day. On the eve of delivery in July, it is expected that there is not much supply in circulation in the spot market. This week, the stock expectation is on the high side, so we will pay attention to it at night.

[brief Review of lead in SMM period] during the day, Shanghai lead continues to fluctuate at high level. At night, focus on the support of the lower 10-day moving average.

In terms of nickel, from a fundamental point of view, the price of nickel is well supported. The production of downstream stainless steel reached a new high of 3.1 million tons in July. Nickel sulfate in the new energy direction has been rising day after day to catch up with the historical high due to the mismatch of raw material structure. SMM believes that the two major demand sides go hand in hand, in the case of the presence of long main positions, the top can still look forward to space. Lunni is expected to operate at US $18400-18900 per ton in the short term, while Nickel in Shanghai is expected to operate at RMB 137000-142000 per ton in the short term.

[SMM Express] there may still be room to look forward to the continued concussion in the nickel market in Shanghai.

In terms of black, thread rose 1.42%, hot coil 1.44%, coking coal 1.98%, coke 0.98%, iron ore 1.45%, stainless steel 0.64%. According to SMM preliminary statistics, as of July 8, nearly 10 domestic hot rolling mills have received policy requirements: crude steel production will not increase in 2021 compared with 2020. The scope of influence of the follow-up policy still tends to expand, which leads to a further decline in hot rolling production. However, considering that compared with other varieties, the profit of hot-rolled products is relatively higher, and the sales pressure is lower, the steel mills with product adjustment ability will ensure the hot-rolling supply as far as possible, and the actual reduction space at the production end of hot-rolling is limited. In the short term, the market is expected to reduce the supply of a large number of transactions, in line with the production reduction part of the landing, short-term price support is strong. But in the medium term, the supply and demand is weak, the reduction of hot rolling supply is limited, or it is difficult to support the high price rise, the space above and below the coil price is limited, and the shock trend may continue in the medium term.

Last period crude oil rose 1.68% and international crude oil futures fell on Monday as concerns about a slowdown in global economic growth outweighed the prospect of a supply crunch after negotiations among major oil-producing countries to increase production stalled in the coming months. market participants wait for further price hints.

In terms of precious metals, Shanghai gold fell 0.36% and Shanghai silver fell 0.02%. International gold prices were flat earlier on Monday, lingering concerns about the epidemic, while investors waited for US inflation data released this week and testimony from Federal Reserve Chairman Colin Powell.

"check the metal futures market.

[stock market closes] A shares collectively closed higher, gem hit a six-year high and battery stocks rose sharply.

The central bank cut reserve requirements across the board to boost market confidence. The size index opened high and closed higher today. The gem index rose 3.68% to a six-year high. The transaction volume between the two cities was hot. The trading volume exceeded trillion yuan for eight consecutive trading days, and nearly 3000 stocks floated red. Funds are still focused on the recent main line of high prosperity plate, Tongxin lithium battery index rose more than 4%, plate turnover of more than 260 billion, concept stocks once again set off a trading trend, phosphorus chemical industry, fluorine chemical industry, salt lake lithium extraction and other related sectors led the gains. New energy vehicles, semiconductor chips, photovoltaic, national defense and other high prosperity directions are also on the rise. Low-level software services and network security concept stocks also staged a stoppage, with nearly 20 shares rising by the daily limit or more than 10%. On the disk, network security, CRO concept, phosphorus chemical industry, computer applications were among the top gainers, while airport shipping, st plate and banks were among the top declines. As of the close, the Prev index rose 0.67% to close at 3547 points, the Shenzhen Composite Index rose 2.14% to close at 15161 points, and the gem index rose 3.68% to close at 3534 points.