Metals rose more than 2.5% in Shanghai Nickel at midday, stainless steel rose more than 2.8% against the trend [SMM afternoon Review]

SMM1 March 10: the dollar fluctuated upwards in midday trading today. The whole line of inner plate metal except lead and zinc was floating red, and the whole plate was slightly upward in early trading. Shanghai Nickel continued its previous rally, leading the way with an increase of 2.56%. Shanghai Aluminum pulled up rapidly near midday, expanding to 1.1 per cent by the end of the day. Shanghai lead and zinc continued their previous decline, both falling more than 1 per cent, led by a 1.37 per cent decline, followed by a 1.08 per cent drop in Shanghai zinc. Shanghai copper and tin rose by about 0.7%.

In terms of black series, all lines except stainless steel were green, and stainless steel pulled up sharply near midday, and finally successfully closed up 2.82%. Iron ore maintained its early decline at midday and widened to 2.31% at midday. Threads and hot rolls all have different degrees of downward movement. Shuangjiao both fell at midday, but succeeded in stabilizing the rise, both of which were up about 0.3%.

At midday, the outer market performed slightly better than the inner market, with only Renxi down 0.25 per cent as of 11:30. Other metals are floating red, Lun aluminum and the inner market Shanghai aluminum trend is similar, an increase of 1.36%, Lunni followed by an increase of 0.91%.

As for copper, the spot price of electrolytic copper in North China today offered a discount of 100 yuan / ton to the monthly contract, with an average discount of 50 yuan / ton down 40 yuan / ton compared with the previous trading day, and the transaction price was 69620-69820 yuan / ton. the average price of 69720 yuan / ton was down 270yuan / ton compared with the previous trading day. Copper prices fluctuated higher today, and the overall trading center of gravity increased compared with the previous trading day. On the spot side, affected by the epidemic in Tianjin, most local traders and downstream stopped trading, and Shengshui only followed the downgrade in other regions today.

"under the influence of the epidemic, the spot market basically came to a standstill and trading was very deserted [SMM North China Copper spot]

"Click to view the price of SMM copper products.

In terms of zinc, the transaction price of zinc, the mainstream brand in Ningbo market, is about 24340,24390 yuan / ton, and the premium to Shanghai is about 20 yuan / ton. Today, the holder cut the rising water, and the premium to the market in Shanghai fell to 20 yuan / ton. Today, the plate is low, the number of downstream inquiries is relatively increasing, the holders are mainly bidding, and some of the holders have finished shipping in the first period of time. On the whole, today's transaction is relatively warmer.

Ningbo Zinc: zinc Price falls and deals relatively pick up [SMM afternoon Review]

"Click to view the price of SMM zinc products

In terms of tin, the trend of the Shanghai-tin 2202 contract today remained horizontal, closing at around 298000 yuan / ton at noon, with a small amount of funds leaving the market. Spot market: the overall quotation of the upstream smelter is biased towards the positive price, and the price difference between brands narrows. According to the feedback, the market shipment is relatively stable today.

"the trend of Shanghai and tin is horizontal and spot shipments are stable [SMM afternoon review]

"Click to view the price of SMM tin products

In terms of crude oil, crude oil futures did not change much on Monday, and the rapid rise in O'Micron variants hit economic activity, sparking concerns about crude oil demand. However, the disruption of crude oil supply in Kazakhstan and Libya has played a supporting role in the futures price.

In terms of precious metals, spot gold fell slightly on Monday and continued to trade below 1800. Gold bottomed out on Friday as the non-farm report continued to cool in December and both the dollar index and US stocks fell. However, the Fed's hawkish expectations continue to weigh on gold prices.

By the close of noon, the contracts in the metals and crude oil markets were as follows:

"Click to see more SMM metal prices.

"Click to view the price of SMM lead products

"Click to view the price of SMM aluminum products.

"Click to view the price of SMM nickel products