SMM2 March 2: the whole non-ferrous metals market was green in the morning. by midday, international copper fell 0.56%, Shanghai copper fell 0.4%, Shanghai aluminum fell 0.99%, Shanghai lead fell 1.52%, Shanghai zinc fell 1.14%, Shanghai nickel was flat, and Shanghai tin fell 1.07%. From a macro point of view, it is reported that the rescue plan proposed by US President-elect Joe Biden, totaling 1.9 trillion US dollars, may encounter opposition, and the resistance of some members of Congress makes it uncertain whether the plan can be approved in Congress. Earlier, a panel of 10 Republican lawmakers launched a stimulus package on Sunday aimed at cutting President Joe Biden's $1.9 trillion plan.
In terms of zinc, the mainstream zinc in Ningbo market traded at 19680-19760 yuan / ton, with a premium of 20 yuan / ton for 2103 contracts and 20 yuan / ton for Shanghai. Huize has a contract increase of about 240,220 yuan / ton for 2103. Market circulation brands are Tiefeng, West Mine, Huize and Zinc Yongchang. Ningbo market downstream enterprises have a holiday, galvanized enterprise orders are less, other types of enterprise demand is general, the market is mainly rigid demand procurement.
[SMM afternoon Review] Ningbo Zinc: rigid demand Purchasing in Ningbo Market
In terms of black series, thread fell 1.65%, hot coil fell 1.32%, coking coal fell 1.49%, coke fell 1.94%, iron ore dropped 3.24%, iron ore, recently, the "notice on new deliverable brands and adjustment of related discount for iron ore futures" issued by Dashang will add Benxi steel fine powder, IOC6, Kumba and Ukraine fine powder as iron ore futures deliverable brands. And adjust the existing iron ore futures deliverable brand discount, the relevant adjustment from the I2202 contract. At this point, the iron ore resources that can be delivered by big businessmen are expected to be further expanded.
The last period of crude oil rose 2.71%, and international oil prices closed up more than 2% on Monday, although novel coronavirus's unsatisfactory vaccination work, constant infection and the discovery of new virus variants brought downside risks to oil prices, but due to the decline in US crude oil inventories. And one of the worst Blizzard attacks in years has led to a rise in winter fuel demand, boosting oil prices.
In terms of precious metals, Shanghai gold rose 0.01% and Shanghai silver rose 2.07%. As US retail investors attacked the silver market, COMEX silver futures closed up more than 9% on Feb. 1, an eight-year high. In the early hours of February 2nd, it was reported that (CME Group), a trading group, announced that it would increase the margin for silver futures trading by 18%. Affected by the news, silver futures fell in early Asian trading on February 2.
"[note] the 18% margin raised by the cheese merchants fell in the silver period, which opened lower at the beginning of the day.
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