Metal general drop Shanghai aluminum six continuous rise iron ore drop 5.9% [SMM Daily Review]

Published: Feb 9, 2022 16:07

Source: SMM

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[SMM Daily Review] Today, the dollar index fluctuated during the day, and international crude oil dived in the afternoon. As of around 15:00, the dollar index fell slightly by 0.04%, while US crude oil and Brent crude oil fell slightly by about 0.34%. Basic metals fell, only Shanghai Aluminum and Shanghai lead closed up to 2.42% and 1.32% respectively, Shanghai Nickel recorded the largest decline of 1.69%, Shanghai Copper fell 0.18%, Shanghai Zinc fell 0.39%, and Shanghai Tin closed down 0.73%. Stainless steel closed up 1.14%, iron ore fell 5.9%, thread and hot rolling both closed down about 1.25%.

SMM2 June 9: today's dollar index fluctuated in intraday trading, and international crude oil dived in the afternoon. As of 16:03, the dollar index was basically flat, while US crude oil and Brent crude oil fell slightly by about 0.7%. International crude oil futures have fallen for two consecutive days after receiving the expected impact of the US-Iraq negotiations.

Today, basic metals generally closed down, only Shanghai Aluminum and Shanghai lead closed up to 2.42% and 1.32% respectively, Shanghai Nickel recorded the largest decline of 1.69%, Shanghai Copper fell 0.18%, Shanghai Zinc fell 0.39%, and Shanghai Tin closed down 0.73%.

View the spot historical price of SMM metal

Shanghai Aluminum rose continuously, and the spot market. According to SMM research, production restrictions in Guangxi and overseas once again triggered bullish sentiment. Before noon, the main center of gravity of Shanghai Aluminum rose more than 2%, and the high point reached 22900 yuan / ton. Due to the uneven accumulation rate of domestic consumption after the Spring Festival, the trend of the spot market was divided. East China continued to maintain the current month near Pingshui in early trading, middlemen were relatively active, and downstream procurement was still in the process of recovery. The downstream admission time is expected to continue until next week.

Shanghai Aluminum continues the emotional high of the bulls approaching 23000 yuan [SMM aluminum spot afternoon review]

Shanghai lead recorded an increase in sunshine for the first time today after a series of overcast and rainy days. Spot aspect, according to SMM understanding, the holder quotation follows the market, downstream enterprises start to increase, rigid demand procurement gradually recovered, but some enterprises are still mainly to digest inventory or long order procurement, bulk market transactions are still in the process of recovery.

"View the price of SMM lead products

Black series only stainless steel closed up 1.14%, iron ore fell 5.9%, thread and hot rolling closed down about 1.25%.

Coal closed down across the board, with coking coal down 3.85%; thermal coal fluctuated greatly, rising by daily limit yesterday and plunging 2.63% today; and coke fell 1.51%.

Entering the European and American period, LME metal futures were mostly weak. as of about 15:30, Lun Copper fell 0.31%, Lun lead and Lun Ni rose slightly to 0.61% and 0.72%, respectively, while Lun Aluminum, Lun Zinc and Lun Xi rose slightly to 0.2%, 0.17% and 0.27%, respectively.

As of 1515: 33, financial market conditions:

"Click to view the real-time financial market.

SMM Daily Review

International copper BC: today BC copper main contract 2204 overall performance for a small rise after the horizontal concussion, BC copper opened slightly higher after the pressure down, creating a pre-afternoon low of 62710 yuan / ton, and then the price rose slightly above the opening price to the intraday high of 62940 yuan / ton. In the afternoon, the opening price was under pressure, breaking through the afternoon low to 62590 yuan / ton, the price bottomed out and rebounded near the opening price, and finally closed at 62810 yuan / ton, down 0.27%, down 170yuan / ton.

Long and short sides are evenly matched BC Copper rises and falls steadily [SMM International Copper BC Review]

"View the price of SMM copper products

Recycled aluminum: today, aluminum prices continue to rise under the influence of Guangxi and overseas production restrictions, the main high point of Shanghai aluminum hit 22900 yuan / ton, spot A00 aluminum prices rose 400 yuan / ton to 22890 yuan / ton compared with yesterday, recycled aluminum prices continue to rise. Domestic prices, domestic large recycled aluminum enterprises quoted rose 400 yuan / ton to 21900-22200 yuan / ton; small and medium-sized plants, quotation rose 400 yuan / ton to 21600-21800 yuan / ton. In terms of import and export.

Aluminum prices continue to climb and recycled aluminum prices remain strong [ADC12 Price Daily Review]

"View the price of SMM aluminum products

Stainless steel: today, the resumption of work in Foshan market has entered a stage of 60% Mur70%. Although most terminal enterprises have not yet started work, the market has begun to replenish the stock like a raging fire, and the guidance prices of some steel mills have taken the lead to increase. Today, the spot price in Foshan has also experienced an increase, which is currently maintained at the base price of 18200 yuan / ton, although the downstream has not yet resumed work. Some traders still do not dare to be firmly optimistic about the market after the end of the year, according to SMM research.

Start resumption schedule 70% stainless steel transaction atmosphere warms up [Foshan stainless steel daily review]

"View the price of SMM stainless steel products

"View the price of SMM zinc products

"View the price of SMM tin products

"View the price of SMM nickel products

The stock market closed

The non-ferrous metals sector rose for the fourth time in a row, and the plate index rose 2.03% today. In terms of individual stocks, Tongling non-ferrous trading limit, Yiqiu resources, Dingsheng new materials, cloud aluminum shares and so on are mostly floating red.

The small metal sector rose three times in a row, and the plate index rose 2.68% today. Individual stocks, Jixiang shares, China Mineral Resources limit, Yunhai Metal, * ST Fenghua, North rare earths and so on.

[SMM Today's News] Metals go up and down each other and iron ore is down more than 5% | Summary of spot market performance

SMM Daily Review stainless Steel Mining Nickel Copper Aluminum

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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