Metal generally rose at midday Shanghai Nickel rose 1.8% stainless steel rose more than 3% [SMM midday review]

SMM3 March 23: the US dollar fluctuated lower today, releasing some pressure for the metal market. With the exception of Shanghai Copper and Shanghai Aluminum, all the metals in the inner market were floating red, and Shanghai Copper fluctuated upwards in early trading, once successfully turning red, but there was a pullback near midday, and finally closed down 0.05% slightly. Shanghai Aluminum fell slightly by 0.02%. Shanghai Nickel managed to maintain its previous rally, closing up 1.8%, with no dust in the inner metal market. Shanghai tin and Shanghai lead rose more than 0.28%, while Shanghai zinc closed up 0.14%.

Black department all earlier recorded varying degrees of upside, hot coil stable at 5169 yuan / ton price, thread opened all the way up, up 0.65% in midday trading. Iron ore rose 0.73%, while stainless steel fell 3.47% at noon. Double coke also rose at the start of trading, but failed to reverse the previous decline in midday, with coke closing down 0.11% and coking coal down 0.7%.

The metal phase of the outer disk is brighter than the inner plate, and as of about 11:30, except for the unopened Lunni, only Lunzhu is slightly green, with a decline of about 0.02%. Lun Zinc took the lead with an increase of more than 1%, while Lun Aluminum, Lun Xi and Lun Qiqi rose more than 0.8%.

In terms of crude oil, international oil prices turned higher on Wednesday, recovering the previous day's decline after industry data showed that US crude stocks fell last week, indicating a tight global oil supply.

On precious metals, gold rebounded slightly after falling in early trading on Wednesday, with Treasury yields rising after Fed officials insisted on a bigger rise in interest rates to fight inflation, dragging down gold prices in early trading.

Spot market at a glance:

Copper:

Today, the spot price of electrolytic copper in North China is quoted at a discount of 80,40 yuan / ton for that month's contract, with an average discount of 20 yuan / ton down 30 yuan / ton compared with the previous trading day, with a transaction price of 72990-73310 yuan / ton, and an average price of 73150 yuan / ton down 85 yuan / ton compared with the previous trading day. The price of copper rebounded today.

"downstream consumption is not good, the consignor shipments at reduced prices [SMM North China Copper spot]

"Click to view the price of SMM copper products.

Tin:

Today, the trend of the main contract in Shanghai and tin has rebounded slightly and is still in a concussion range, closing at around 338500 yuan / ton at noon, with a small amount of funds entering the market. During the early trading period, the performance of the smelter quotation remained stable, only a few manufacturers slightly raised their quotations. According to the feedback, the number of quotations in the market increased slightly today, as the fall in prices in the night market yesterday led to part of the procurement demand, and the rebound in prices in midday led to the poor performance of merchants in the morning. At this stage, it is common for downstream enterprises to purchase on demand.

"Tin price trend range. Spot shipments are lukewarm and lukewarm [SMM tin afternoon review].

"Click to view the price of SMM tin products

For nickel:

Shanghai Nickel 2204 contract fluctuated around 209000 yuan / ton in the morning. Today's SMM based on upstream and downstream comprehensive research and market traders collective inquiry, Jinchuan 3500-3900 yuan / ton today, the same as yesterday. Russo Nickel today 3000-3700 yuan / ton, down 250 yuan / ton compared with yesterday. Since yesterday, import losses have gradually turned into profits, and it will take some time for customs clearance to arrive on the market.

"the rising water of pure nickel has been lowered by the end of the month, but the overall turnover is weak [SMM Nickel spot afternoon Review]

"Click to view the price of SMM nickel products

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 zinc products