Metals fell sharply, Shanghai Aluminum and Shanghai Zinc fell by more than 6%. Shuangjiao closed the daily limit board throughout the day [SMM Daily Review]

SMM10: UK consumer prices accelerated for the second month in a row, well ahead of the Bank of England's target, driven by disruptions in the global supply chain that pushed up transport costs. Consumer price (CPI) rose 3.1 per cent in September from a year earlier, compared with a 3.2 per cent rise in September, the Office for National Statistics said on Wednesday. The Bank of England expects inflation to rise above 4 per cent by the end of the year, more than double its inflation target. On the domestic side, after the recent sharp rise in the metal market and the rise of coking coal and coke one after another, in the face of the rapid rise in coal prices, the National Development and Reform Commission issued a series of articles yesterday, saying that it would use all necessary means to intervene in coal prices. affected by this news, Shuangjiao sealed the falling limit throughout the day, and the metal market also fell sharply. Shanghai zinc and aluminum fell by more than 6%, while Shanghai tin and Shanghai copper fell by more than 2%. The outer market is better than the inner market, Lun Ni, Lun Zinc recorded an increase, Lun Zinc is far ahead of the rise of more than 1%.

In the stock market, the non-ferrous metals plate closed down 0.52%, but Yunhai Metals, Huafeng Aluminum and Xin Platinum shares still recorded a daily limit. The coal sector fell sharply, the plate index fell 6.65%, the whole plate was almost wiped out, and many stocks fell by the daily limit.

"the three major A-share indexes fell. Coal and precious metals led the decline [stock market closed].

In terms of copper, trading in the imported copper market remained light today. The import price ratio has warmed up slightly, but the market demand is limited. The bill of lading arriving in Hong Kong at the end of October and the beginning of November is still in a state of oversupply, and the premium lacks upward power. at present, the mainstream fire bill of lading arriving in Hong Kong in late October and early November is concentrated around US $100 / ton. the actual transaction is slightly lower.

"weak demand limits Foreign Trade Market transaction Yangshan Copper Premium continues to weaken [SMM Yangshan Copper spot]

In terms of aluminum, alumina prices rose slightly today, and trading in the market as a whole was light. Although the quotation of the alumina plant continues to rise, the traders are not active in receiving the goods and the trading is very cautious. Rigid demand electrolytic aluminum plant alumina long order supply is stable, the current plant inventory is relatively abundant, before a new round of long order is signed, the wait-and-see attitude continues.

"the price rises slightly and the market performance is weak [SMM Alumina Daily Review]

Tin, Shanghai tin 2111 today's trading trend volatility is relatively small, the price fell 280000 integer after the rebound, and finally closed at 280000 yuan / ton. On the market trend, the daily market capital in and out is relatively stable, and there is no excessive action performance, from the change of the whole day's position difference, the capital is still mainly leaving the market.

"the trend has fallen back, and the spot transaction has obviously picked up when the funds left the market [brief Review of SMM Tin]

Today, the domestic coke market is running stably for the time being. Recently, road transport in Shanxi has basically returned to normal, coke shipments have improved, and stocks of coke enterprises have declined, but coking coal prices have been continuously raised, profits of coke enterprises have been compressed, and production restrictions of some coke enterprises have not yet been relaxed, and coke supply has been slightly tightened. The willingness to raise the price of coke has increased. Due to the influence of the tightening of power restriction, the scope of production limit of steel mills has been expanded, and the overhaul and production reduction of blast furnaces in some steel mills have increased, and the overall demand for coke has weakened. Coking coal prices are stable and medium to strong, but recently, a special meeting on coal supply in the fourth quarter was held in Yulin, Shaanxi Province, requiring the state-owned coal mines in Yulin to take the lead, and coal from major producing areas such as Shanxi, Shaanxi, and Inner Mongolia to be reduced by 100 yuan per ton on the basis of existing prices. moreover, the Shaanxi region will speed up the procedures for increasing production of 17 coal mines guaranteed in winter, and coal mine output will increase, but winter storage has arrived and the impact of power coal supply. The supply of coking coal has been tightened, which may lead to the stable and strong operation of coking coal prices. Generally speaking, the coking coal price rising again has a strong support to the coke price cost, the mentality of coke enterprises has improved, and some coke enterprises which have hidden decline in the early period have recently increased, and the coke market will develop well in the short term.

The mentality of Coke Enterprises is improving and Coke is developing better [SMM Coke spot Daily Review]

"check the metal futures market.

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