Metals rose at midday and Shanghai copper and aluminum hit new intraday highs in more than three months [SMM midday review]

SMM2 March 10: the US dollar fell and fell in intraday trading, and the metal market rose one after another. in terms of inner metals, Shanghai Copper and Shanghai Aluminum fluctuated upward and expanded continuously, of which Shanghai Copper rose more than 3%, hitting 72580 yuan / ton in intraday trading, recording a new high of more than three months since the end of October. Shanghai Aluminum continued to rise more than 2%, rising for the eighth trading day in a row, and hit a new high since October 22. After pulling up in the Shanghai tin plate, it fell back, and the increase narrowed somewhat, but it still recorded a rise of 1.3%, and Shanghai lead, Shanghai zinc and Shanghai nickel rose nearly 2% one after another.

In terms of black, the weak operation of the three coal brothers have recorded a decline, iron ore, stainless steel concussion higher, up more than 1%.

Outer plate metal, Lunxi intraday diving recorded a drop, Lun copper wide concussion slightly green, other varieties have risen.

Aluminum, with the upcoming consumer season, domestic supply increment is expected to be difficult to make up for the import gap in the short term, low inventory situation is expected to increase, short-term spot to maintain the level of the month, and the contract out of the back structure in recent months, Shanghai Aluminum maintained a strong out of 7 Lianyang, a high of 23400 yuan / ton, a daily increase of more than 2%, the spot market downstream entry is still in recovery.

The supply gap is expected to strengthen Shanghai Aluminum Co., Ltd. Qilianyang rose another 2% before noon [SMM aluminum spot afternoon review]

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In terms of zinc, the mainstream turnover of zinc ingots in Tianjin market was 25470,25,600 yuan / ton, Zijin was traded at 25490,25630 yuan / ton, Huludao was quoted at 27830 yuan / ton, zinc was generally quoted at a discount of 30,70 yuan / ton for 2203 contract, and Zijin was discounted around 0,50 yuan / ton for 2203 contract, and the discount in Tianjin was 40 yuan / ton higher than that in Shanghai.

Tianjin Zinc: today's Zinc Price pulls up again and turnover in the spot market is light [SMM afternoon Review]

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As for crude oil, oil prices fell on Thursday and rebounded in the previous session due to an unexpected drop in U.S. crude stocks, as investors await the outcome of nuclear talks between the United States and Iran, which could lead to a rapid increase in crude oil supplies on the global market.

In precious metals, spot gold prices fell into a narrow range on Thursday as investors waited for US inflation data, which could provide new clues to the Fed's pace of tightening monetary policy.

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

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