SMM9 March 8: the metal market is mixed today. By midday trading, international copper was down 0.66%, Shanghai copper was down 0.48%, Shanghai aluminum was up 0.83%, Shanghai lead was down 0.27%, Shanghai zinc was up 0.51%, Shanghai nickel was up 0.57%, and Shanghai tin was down 0.32%. In terms of zinc, the mainstream turnover of zinc in Guangdong was 22650-22800 yuan / ton, and the quotation was concentrated on the 2110 contract for Shanghai zinc. The discount of the Guangdong market was 50 yuan / ton compared with that of the Shanghai market, which was 20 yuan / ton lower than that of the previous trading day. In the first trading session, some holders quoted prices slightly stronger, but futures prices went up, further curbing downstream demand, holders had price adjustments, and spot risers were slightly lower than yesterday. Kirin, Mengzi and Huize quoted a price of 120,130yuan / ton for Shanghai zinc 2110 contract and 100,110yuan / ton for Tiefeng water. In the second trading session, futures prices fell somewhat, but prices are still high, downstream demand improvement is not obvious, spot rising water is difficult to rise. Kirin, Mengzi and Huize quoted a price of 120,130 yuan / ton for Shanghai zinc 2110 contract, 100yuan / ton for Tiefeng and 130yuan / ton for blue zinc. Kirin, Mengzi, Huize, Tiefeng and other mainstream transactions in 22650-22800 yuan / ton.
[SMM afternoon Review] Zinc in Guangdong: price increases expand and downstream demand weakens
In terms of nickel, the price of nickel rose again, the downstream took goods today, the overall trading was light, and the spot rising water of the nickel board fell today; today, the price of Russian nickel rising water is at 900001,300 yuan / ton (to 2110 contract). Jinchuan nickel spot water down to 1500,1700 yuan / ton (against 2110 contract). In terms of nickel beans, the price of nickel beans in the market remains low, with a rise of 500,700 yuan / ton to the 2110 contract, and the recent arrival of nickel plates, but basically all plan to register warehouse receipts.
[SMM Nickel spot afternoon Review] Nickel prices fluctuate higher and basically wait and see downstream.
Black is down, thread is down 1.65%, hot coil is down 1.61%, coking coal is down 0.67%, coke is up 0.41%, iron ore is down 1.27%, and stainless steel is down 1.97%. In terms of stainless steel, stainless steel futures fluctuated yesterday, and today's morning market continued the trend. Spot morning stainless steel market prices of all departments in Foshan also began to lower prices slightly. In fact, high prices a few days ago were jointly affected by market sentiment and expectations of production restrictions, but yesterday's transaction situation was poor, and there was insufficient support from consumers, and it is inevitable that the price trend will decline weakly. In addition, according to SMM statistics, Under the influence of yield restriction in August, the actual output decreased slightly compared with the previous month, and SMM predicted that there might be a slight decline in the second half of the week.
Crude oil in the previous period fell 0.88%. Oil prices rose slightly in intraday trading on Wednesday, reversing their overnight decline, as US Gulf of Mexico producers struggled to restart operations nine days after Hurricane Ida swept through. It is reported that on Tuesday, about 79% of offshore oil production companies in the Gulf of Mexico were still closed and 79 production platforms were evacuated. So far, the market has lost about 17.5 million barrels of oil. Traders are keeping a close eye on inventory data released Wednesday by the Association and the U.S. Energy Information Administration on Thursday to better understand the impact of the hurricane on crude oil production and refinery production.
In terms of precious metals, Shanghai gold fell 1.2% and Shanghai silver fell 1.29%. Gold prices held steady below $1800 on Wednesday and fell below the key psychological level of $1800 in the last trading day, as the rise in the dollar and the yield of US Treasuries weakened the attractiveness of gold to the market.
By the close of noon, the contracts in the metals and crude oil markets were as follows:
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