SMM4 March 18: the dollar rose slightly in early trading, US inflation remained high, Fed executives made hawkish remarks and market expectations of a 50 basis point increase in interest rates rose in May, which supported the volatility of the dollar.
Crude oil rose in early trading as the European Union said at the weekend that a new round of sanctions against Russia would focus on banks and energy. Ukraine failed to reach an agreement with Russia to stop firing on the withdrawal route, and the geo-situation between Russia and Ukraine remained uncertain.
Metal in the inner market rose generally in early trading, while Shanghai zinc and Shanghai tin continued to fall, but the decline narrowed somewhat. Shanghai zinc fell 0.5% and Shanghai tin fell 0.83%. Other varieties are up, Shanghai nickel and Shanghai lead both rose more than 1%, Shanghai lead rose 1.36%, Shanghai nickel rose to 1.32%, Shanghai aluminum and Shanghai copper increased, Shanghai aluminum rose 0.44%, Shanghai copper rose 0.70%.
Black department generally fell, iron ore early trading shock upside turned red, slightly up 0.11%. Everything else is green. The decline of stainless steel widened to 1.39%, while thread and hot coil fell slightly by 0.38% and 0.64%. The double coke also continued to be green, with the decline of coking coal expanding to 2.45% and coke falling slightly by 0.85%.
The London Metal Exchange (LME) is closed from Friday, April 15 to Monday, April 18 because of good Friday and Easter holidays.
As of 9:35
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Minutes of SMM Copper Morning meeting: last week's rise in oil prices led to higher volatility of copper futures. Focus on the performance of the spot market after the change of months.
Last Friday was the last trading day of the 04 contract. Due to the simultaneous rise of the market surface and the basis structure, the 04 contract stood above 75000 yuan / ton again, restraining market consumption. In the case of inactive buying in the Jiangsu market, the overall offer also fell slightly, with the overall quoted price between 250 yuan and 350 yuan / ton, and part of the 05 contract quoted around 500 yuan / ton, which is difficult to see the price difference with the Shanghai area. After the month of delivery, the logic of tight supply in the market, plus the smelter will enter the centralized maintenance period is expected to rise water. "View details
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Summary of SMM Aluminium Morning meeting: news of RRR reduction: orderly recovery of downstream consumption of terminal enterprises began to improve
On the supply side, according to SMM's preliminary estimate, the domestic operating capacity of electrolytic aluminum is expected to reach 40.3 million tons by the end of April, and the output of electrolytic aluminum is expected to exceed the same period last year, but recent domestic transportation problems continue to interfere with the normal delivery of aluminum plants. On the demand side, downstream construction in Shandong, Wuxi and other places has resumed, the possibility of better market consumption and better spot market trading has become greater. Look at the whole. "check the details.
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Summary of SMM lead morning meeting: inventory pre-increase and cost rise or aggravate short-term lead price game
The impact of the epidemic on the lead industry chain continues to ferment, the transportation of waste is limited, and the premium of regional competition makes the price of waste batteries rise rather than fall in the context of lead prices falling during the week, and the cost factor. "View details
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Summary of SMM Zinc Morning meeting: Lun Zinc closed and Shanghai Zinc maintained a high concussion trend.
Last Friday, zinc in Shanghai recorded a negative pillar, maintaining a high concussion pattern. At the beginning of the session, long positions fell sharply, below the 10-day moving average lift, and then long-short game stalemate, finally closed down at 27900 yuan / ton. On the supply side... "View details
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Minutes of SMM Tin Morning meeting: tin prices rebounded during the week and spot tin prices remain stable
On the supply side, according to SMM research, it is known that the weekly operating rate of refining tin in Yunnan and Jiangxi provinces has remained stable, showing a slight increase compared with last week. Some refineries in Guangxi have completed maintenance and started ignition last week, and products are expected to be produced later this month. The raw material end is still disturbed by the Burmese epidemic, according to market sources, in some areas. "View details
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Summary of SMM Nickel Morning meeting: the fluidity of pure nickel has not been improved and the shortage of downstream raw materials affects supply.
Last week, Lunni prices fluctuated slightly in the range of $32400 / ton to $33300 / ton and liquidity has not yet improved, mainly because the current Lunni price is still high, it is difficult to execute LME-denominated raw material contracts, resulting in low willingness to maintain value, and some customers think that even if LME prices return to normal levels, confidence will be affected, so it is expected that Lunni disk activity will be difficult to return to normal. In addition, the supply of nickel sulfate is relatively tight. "View details
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Summary of SMM Iron and Steel Morning meeting: logistics and Transportation alleviates difficulties and Coke is stable and strong
On the supply side, the progress of resuming production of steel enterprises in North China is slow, and Shanxi area is repeatedly affected by the epidemic. Some steel enterprises are short of stew furnaces and actively stop production, and the output of building materials was limited last week; on the demand side, the overall weakness, and the hardest-hit areas of the epidemic remained closed and controlled. due to repeated epidemics and difficulties in the transportation of finished materials in some areas, spiral shocks rose in the last cycle, and market views showed more and more empty each other, and the transaction improved slightly last Friday. From a follow-up point of view, the profits of steel enterprises. "View details
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