SMM11 March 2: there are ups and downs in the non-ferrous metals market today. By the end of the day, Shanghai Aluminum rose 2.95%, Shanghai Tin rose 0.68%, Shanghai Zinc rose 0.66%, Shanghai Copper fell 0.21%, Shanghai lead fell 1.04%, and Shanghai Nickel fell 2.66%. The dollar held steady on Monday as investors prepared for Tuesday's US election as a surge in novel coronavirus cases around the world continued to dampen sentiment. The dollar held on to gains, recording its biggest weekly gain since the end of September last week. The pound fell, hit by novel coronavirus's concerns about the epidemic; British Prime Minister Johnson announced at the weekend that a nationwide epidemic blockade would be imposed for a month. Tuesday's US presidential election rattled financial markets as investors clung to the dollar, which is usually seen as safer.
In terms of copper, today, the copper in Shanghai is negative, the KDJ curve continues to expand, the lead under the cross star goes straight to the Brin orbit, and the MACD line red column turns green. In the evening, we will pay attention to the final value of euro zone manufacturing PMI in October and driven by the outer disk, and continue to observe risk aversion, and whether Shanghai Copper can keep Brin down the track.
[brief Review of SMM Copper] Global risk aversion US Dollar boost Copper is under pressure close to Brin's lower track
In terms of lead, Shanghai lead is negative again, while the k-line entity wears the 10-day moving average and the 5-day average becomes a new pressure line, the KDJ index tends to converge downward, and the technical index tends to turn short, considering the fundamental cost of recycled lead to support lead prices, while the light consumer end is difficult to boost lead prices. It is expected that Shanghai lead will still be dominated by weak shocks in the short term, and pay attention to the impact of environmental protection on the output of recycled lead after November. At the same time, we should also be wary of the turmoil brought about by the US presidential election, and watch at night whether the bears can completely break through the 10-day moving average.
[brief Review of lead in SMM period] Shanghai lead overcast pays attention to the 10-day moving average at night.
Zinc, the future zinc closed long shadow Xiaoyang pillar, is still in the range shock market, this week's macro events disturbance, on the one hand, the major European economies closed for a month, the market is worried that the future economic recovery will stagnate again; on the other hand, the US election is still full of uncertainty, the stimulus bill is still uncertain, zinc is expected to remain volatile in the short term.
[brief Review of Zinc in SMM period] Macro events disturb Shanghai Zinc continuously or maintain concussion
In terms of tin, tin rose sharply in Shanghai today, fluctuating and rising under the support of short positions and long growth, reaching as high as 144320 yuan / ton to close at 144080 yuan / ton, an increase of 0.95%. On the one hand, Lunxi stopped falling in today's Asian session and showed that the upward trend gave guidance, on the other hand, domestic smelters collectively hesitated to sell the standing price to a certain extent. At present, the upper resistance of tin in Shanghai is 145000 yuan / ton, and the support below is 141500 yuan / ton. in the short term, shock is mainly expected to seek the direction.
[brief Review of tin in SMM period] tin rebounded strongly in long-term Lihu period.
In terms of black, thread rose 0.87%, hot coil rose 0.52%, stainless steel fell 3.29%, coke rose 3.54%, coke rose 0.59%, iron ore rose 1.91%. Futures markets were mixed when trading opened on Monday. While black is collective upward, iron ore rose particularly strongly, jumping 2.1% quickly after the opening of trading, and the futures price once again stood above the 800 mark. However, data show that as of last Friday (30 days), the 35 ports tracked by), SMM totaled 121.11 million tons, an increase of 3.61 million tons month-on-month and 4.32 million tons year-on-year. Port inventories have increased for the ninth consecutive period, and the growth rate has expanded in this period.
"[SMM analysis] ignoring the 9 consecutive increase in inventories, what is the reason for the 2% jump in iron ore opening?
The previous period of crude oil fell 2.81%. According to sources, the Organization of Petroleum Exporting countries (OPEC, OPEC) announced on Monday that the reference price of OPEC basket crude oil was $36.50 a barrel on Friday, compared with $37.12 a barrel in the previous session. Markets continue to worry that blockades in many parts of Europe will hit fuel demand, while traders prepare for possible turmoil during US election week.
In terms of precious metals, Shanghai gold rose 0.86%, Shanghai silver rose 3.46%, and international gold prices rose slightly on Monday, as caution emerged in the market ahead of Tuesday's highly competitive US presidential election, triggering some gold buying. Analysts point out that the long-term view is bullish, as a massive stimulus package is expected in the United States, which should eventually weaken the dollar and push up the price of gold.
Close during the day
Today's capital flow
Today, there has been a big shift of funds in the commodity market, with large inflows of industrial products exceeding 4 billion, while agricultural products have lost 1.218 billion of their funds. The chemical sector became the biggest winner, taking more than 3 billion yuan into the bag, while rubber was the most eye-catching, winning 1.292 billion alone. The black chain index is slightly inferior by comparison, with nearly 1 billion capital concerns. Corn is the most attractive agricultural product, with futures prices plummeting today, losing 850 million yuan.
