Home / Metal News / Shanghai Nickel and stainless Steel fell by the daily limit of metal across the board. Black led the decline [SMM Review]

Shanghai Nickel and stainless Steel fell by the daily limit of metal across the board. Black led the decline [SMM Review]

iconMar 10, 2022 09:51
Source:SMM

SMM3 on March 10, the dollar fell under the influence of the cooling of the situation in Russia and Ukraine yesterday, and rose slightly in early trading today. Crude oil plummeted yesterday on the news that the United Arab Emirates called on OPEC+ to speed up production, but crude oil rose slightly in early trading because of the unclear attitude of OPEC+.

The metal inner market fell across the board today, Shanghai Nickel continued to fall by the limit, Shanghai Tin fell slightly, down 8.82%, Shanghai Zinc fell 3.81%, Shanghai Aluminum fell 2.26%, Shanghai lead fell 1.67%, and Shanghai Copper fell 1.39%.

Black also fell across the board, stainless steel fell by the limit, iron ore fell by 6.83%, hot coil fell by 2.4%, and thread fell by 1.96%. The decline of Shuangjiao has widened, with both falling by more than 3%, coke by 3.53% and coking coal by 3.16%.

The outer disk was mixed, Lunni stopped trading, Lunzn led the decline by 2.28%, and Lunxi fell slightly by 0.01%. Others are floating red, of which Lun aluminum led the way with an increase of 0.93%, Lun copper rose 0.58%, and lun lead slightly rose 0.1%.

As of 9:35:

"Click to view the trend of metal futures.

Summary of SMM Bronze Morning meeting: Ukraine is discouraged and willing to negotiate is obvious. The situation in Russia and Ukraine has been suspended. Copper prices have fallen below 72000.

Tensions between Russia and Ukraine cooled as Ukrainian President Zelanski reiterated his willingness to consider making some compromises to end the war with Russia, while the market was affected by news that the United Arab Emirates and Iraq supported an increase in production. Overnight international crude oil futures fell sharply. Under the reduction of risk aversion in the market, the center of gravity of copper futures fell sharply. It is expected to be today. "check the details.

"Click to view the price of SMM copper products.

Minutes of SMM Aluminium Morning meeting: aluminum prices continue to fall under the contradiction of supply.

On the supply side, the domestic electrolytic aluminum supply side resumes production and accelerates. With the steady growth of domestic electrolytic aluminum daily output in March, the electrolytic aluminum output is expected to reach about 3.3 million tons, and the operating capacity is expected to return to the level of the same period last year in May. Demand side is restrained by high aluminum prices, inventory remains high, after two days of sharp decline in the market, downstream delivery is not substantially entered, aluminum terminal consumption still takes time to recover. Put it all together. "check the details.

"Click to view the price of SMM aluminum products

Minutes of SMM lead Morning meeting: strong expectations return to fundamentals short-term lead prices may fall

Fundamentals, Russia and Ukraine geopolitical situation is very good, at the same time the exchange came out to intervene in abnormal funds, non-ferrous metals generally return to fundamentals. In terms of lead, lead ingot stocks are expected to continue to rise due to the approaching delivery, while as lead prices gradually fall, the spot discount narrows to near flat water, some of which show a small rise, and short-term lead price shocks are expected to fall. It is expected to be today. "check the details.

"Click to view the price of SMM lead products

Summary of SMM Zinc Morning meeting: zinc prices of non-ferrous collectives turn sad and fall with each other.

Fundamentally, the Hu / Lun ratio has led to the full opening of the domestic export window, but the recovery of domestic consumption is slow. Even though the Winter Olympic Games are over, there is still no sign of going to the warehouse or running in shock. It is expected today. "check the details.

"Click to view the price of SMM zinc products

SMM Tin Morning News: Shanghai and Tin weakens and returns to the previous interval of funds to enter the market and return to rationality.

Market trend, Shanghai tin night market prices continued to fall, and then the trend around 340000 yuan / ton integer mark above the narrow finishing, prices once again return to the previous horizontal range. The total amount of funds will enter and participate in a small amount. To sum up, the market after large fluctuations in tin prices. "View details

"Click to view the price of SMM tin products

Summary of SMM Nickel Morning meeting: Shanghai Nickel Market reversed again and there was almost no spot transaction yesterday.

The nickel futures market is volatile and the spot market is deserted. There is a strong wait-and-see mood in the spot market before the situation is uncertain. Many enterprises that value imported raw materials on the basis of that month's LME prices say that high losses can no longer be borne. In the capital game, it is not only the losers in the market, but also the entities in the global nickel market. "check the details.

"Click to view the price of SMM nickel products

Summary of SMM Steel Morning meeting: does the short-term trend of weak decline in finished products change?

Yesterday's volume fluctuated downwards, closing down 2.20%, the spot market fell, and the market trading atmosphere was not good. According to the latest follow-up survey by SMM, the planned hot-rolled commodity volume of 39 mainstream hot-rolled steel mills in March totaled 14.0002 million tons, an increase over the actual hot-rolled commodity output in February. "View details

"Click to view the price of SMM steel products

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