SMM8 June 6: most of the LME metal market is red today. By around 09:30, Lun copper is down nearly 0.1%, Lun aluminum and lun lead are up nearly 0.1%, Lun Zn is up nearly 0.2%, Lun Ni is up nearly 0.3%, Lunxi is flat, domestic non-ferrous metals are mixed, international copper is down nearly 0.1%, Shanghai copper is up nearly 0.1%, Shanghai aluminum is up nearly 0.5%, and Shanghai lead is down nearly 0.5%. Shanghai zinc rose nearly 1.7%, Shanghai nickel rose nearly 1.2%, and Shanghai tin rose nearly 0.2%. In terms of black series, threads fell nearly 1.1%, hot rolls fell nearly 0.8%, coking coal rose nearly 0.7%, coke rose nearly 0.5%, iron ore fell nearly 2.4%, stainless steel fell nearly 0.2%, last period crude oil rose nearly 0.1%, precious metals, Shanghai gold fell nearly 0.8%, Shanghai silver fell nearly 1.7%.
Among them, zinc, overnight Lun zinc recorded a positive column, the upper Bollinger Road on the rail to provide suppression, the lower Bollinger Road middle rail to form support, overnight lme inventory decreased by 450t to 244500 tons, LME inventory continued to decrease. The Fed's statement continues to be hawkish in recent days, and there may be signs of a shift in monetary policy. Overnight, Shanghai zinc recorded a positive pillar, breaking through the middle track of Brin Road, and the lower 40-day moving average may provide support. After the upgrading of the impact of power cuts, it may affect the shortage of supply, resulting in tight supply, or support the high volatility of zinc prices.
In terms of nickel, overnight Shanghai nickel night market stabilized and rebounded, the outer disk rose less than the inner disk, the recent import window continued to open, LME nickel bean inventory continued to decline. Domestic inventory tends to increase slightly. From the point of view of the contract structure, nickel still maintains the back structure, and the monthly difference expanded yesterday, and the near-strong and far-weak pattern continued. Fundamentals, there is still a gap between supply and demand in the near future, but there are signs of easing the contradiction between supply and demand. It is expected to maintain shock operation in the short term, waiting for the emergence of new long-short stimulus factors. In addition, we need to pay attention to the disturbance of macro news to market sentiment.
As of 09:30, the status of contracts in the metals and crude oil markets:
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"[SMM Metal Morning reference] non-agricultural data on metal inflation are released tonight | Today's metal market outlook | the impact of power-limited copper market in Guangxi
[minutes of SMM Copper Morning meeting] hawkish argument that the kinetic energy of copper rising during continuous fermentation has been blocked and the spot water has fallen to the first line of 100 yuan.
[summary of SMM Aluminium Morning meeting] the fundamentals of the limited electrical disturbance at the supply end give Shanghai Aluminum a strong support.
"[minutes of SMM lead Morning meeting] overnight lead continued correction is expected to remain in the domestic Raiku.
[summary of SMM Zinc Morning meeting] Zinc supply side disturbance focuses on non-agricultural data orientation
[minutes of SMM Nickel Morning meeting] Nickel rose sharply in the night market, wide volatility and limited spot turnover.
[minutes of SMM Iron and Steel Morning meeting] yesterday even iron shock downside intraday merchants continued to lower their quotations.
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