Crude oil: international two-barrel oil futures closed sharply above 9% on Monday, with bulls closing short-term profits without further positive impetus. Fears of a drag on energy demand from the epidemic, hopes of peace talks between Russia and Ukraine and news of Iran's support for a truce in Yemen have eased some tensions, but market participants say Russian crude oil sanctions are the biggest supply risk compared to Russian-Ukrainian negotiations. The United States has previously said it is considering releasing more crude oil reserves, but inventories are already low and the scale of the release may be limited. OPEC + will hold a meeting on Thursday, and sources said that despite high oil prices, OPEC + is expected to maintain its plan to increase production slightly in May. In the long run, the risk of the oil market has not been fundamentally resolved.
On the dollar side: boosted by Wall Street's higher expectations of a Fed interest rate hike, the dollar index closed up 0.35% on Monday, reaching an intraday high of 99.37. But the decline in the Dallas Fed's index of manufacturing activity, output and orders released last night held back the dollar's rise. The yield on 10-year u.s. Treasuries rose above 2.5% to a three-year high on Monday.
Today's focus is on data such as Japan's February unemployment rate, Germany's April Gfk consumer confidence index, the Bank of England's mortgage permit in February, the last day's gold and silver daily warehouse receipt changes, and the US Conference Board consumer confidence index in March.
Metal futures:
By the end of the day, basic metals fell in the inner market. Among them, Shanghai nickel fell by 14.74%, Shanghai copper and tin fell by more than 0.8%, and Shanghai aluminum fell slightly by 0.11%. Black series, only stainless steel floating green, fell 6.6%; iron ore rose nearly 4.5%, hot rolling, thread up more than 1%. Coal series, coking coal and coke rose by 1.21% and 0.87% respectively, while thermal coal fell by 2.62%.
During the night session, metal rebounded in the inner market. Shanghai copper rose 0.81%, Shanghai lead and zinc both rose more than 0.7%, Shanghai tin closed up 2%, Shanghai aluminum fell 0.13%, and Shanghai nickel fell 5.57%.
In black, the decline of stainless steel narrowed to 1.03%, that of hot rolling decreased by 0.08%, that of iron ore rose by more than 1%, and that of thread slightly increased by 0.48%.
For coal series, only thermal coal closed down 1.19%, while coking coal and coke closed up to 1.96% and 1.6% respectively.
LME metal, only lun nickel floating green, fell more than 9%; lun lead rose 1.5%, Lun copper and zinc rose slightly to 0.91% and 0.77%, respectively, and lun aluminum closed flat.
Precious metal, COMEX gold futures fell on Monday, weighed down by higher US bond yields and a stronger dollar, while palladium tumbled nearly 8 per cent as supply concerns eased ahead of peace talks between Russia and Ukraine.
13:30 New York time (01:30 Beijing time on March 29th) the April gold futures contract, which was most actively traded by), COMEX, fell 0.7 per cent, or $14.40, to settle at $1939.80 an ounce.
As of 07:20 on March 29th, it closed at night on March 28th:
"Futures prices fluctuate greatly. For enterprise settlement, please refer to SMM spot quotation!
![Market pricing in rate hike expectations, silver futures maintain fluctuating trend, spot market transactions sluggish [SMM Daily Review]](https://imgqn.smm.cn/usercenter/BVoXk20251217171736.jpg)
