[SMM Daily Review] Iron ore fell more than 5%, steel collective low concussion, non-ferrous metal fell more than 1%, gold and silver fluttered red.

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SMM3 March 10: most of the non-ferrous metals market is green today. By the end of the day, international copper fell 1.94%, Shanghai copper fell 1.95%, Shanghai aluminum fell 0.06%, Shanghai zinc fell 1.46%, Shanghai lead fell 1.78%, Shanghai nickel fell 2.05%, and Shanghai tin rose 0.63%. As for copper, according to SMM survey data, the operating rate of enamelled wire was 55.30% in February, a year-on-year increase of 30.49%, a month-on-month decrease of 28.20%, and 9.84% lower than the expected 65.14%. Among them, the operating rate of large enterprises decreased by 23.77% from 59.50%, that of medium-sized enterprises decreased by 37.20% to 48.39%, and that of small enterprises by 28.51% to 32.23%.

[SMM survey] the surge in copper prices made the enamelled wire industry's operating rate lower than expected in February.

Aluminum, on the whole, the short-term Shanghai aluminum continued high wide range shock. Fundamentals, the current stock accumulation rate of aluminum ingots for domestic consumption slows down, in the short term, the decline is in line with previous expectations, the current market generally believes that the inventory peak is around 1.35 million tons, downstream demand recovery, inventory inflection point may appear in the middle and second half of this month, the medium-term continue to pay attention to long short sentiment changes, it is recommended to increase upstream shipments, downstream procurement based on demand, careful to chase high. Fundamentals are concerned about the impact of new messages from the "two sessions" on short-term mood swings in the market. Before the aluminum price is obviously out of the shock cycle, aluminum profile enterprises will be relatively tangled whether it is the order situation or the procurement situation.

[SMM Survey] High Aluminum Price fluctuates New orders of Aluminum profile Enterprises perform poorly

In terms of black series, thread fell 2.61%, hot coil fell 2.35%, coking coal rose 1.71%, coke fell 0.22%, iron ore fell 5.24%, stainless steel fell 1.88%, copper, after the festival, the price of rebar steel as a whole is in a concussive upward trend, the cumulative increase of per ton steel has reached nearly 400 yuan since the festival, and the spot market is extremely excited. In the later stage, the supply and demand of rebar fundamentals increased. On the supply side, Synchronize with the rise in steel prices is the improvement of the profitability of steel mills, the production willingness of long and short process steel mills has increased, and the operating rate of short process steel mills has quickly rebounded to the pre-festival level. On the demand side, although it is disturbed by Rain Water and other factors in the short term, it is still in a rebound trend as a whole, and there is still considerable room for recovery in the follow-up. The fundamental support of thread is strong, the spot price is solid at the bottom, and with the continuous recovery of the demand side, steel prices even have some room to rise. In addition, taking into account the high production costs of steel mills and the strong willingness to raise prices, it is expected that the ex-factory prices of steel mills will be raised by 100-150 yuan / ton in mid-March.

Crude oil fell 3.76% in the previous period, and international oil prices fell for the third day in a row on Wednesday as investors locked in profits and market participants expected U.S. commercial crude oil inventory data released later today to provide trading guidance. Oil prices gained support last week after the Organization of Petroleum Exporting countries ((OPEC)) and its ally, OPEC, agreed to extend most of the oil production cuts until April.

In terms of precious metals, Shanghai gold rose 1.5%, Shanghai silver rose 1.94%, and spot gold prices fell on Wednesday as a stronger dollar and rising US bond yields weighed on gold's safe-haven charm. Analysts point out that there is an element of correction in the current price trend after a surge in gold passion in the previous 24 hours. The fall in gold prices is largely due to higher yields.

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[stock market close] the stock market opened high and fell back to coal, carbon neutralization and other sectors leading the gains.

The index opened high and fluctuated throughout the day, the Prev closed green, the turnover shrank sharply, individual stocks fell, up more than 9% of the stocks only more than 40, the market moneymaking effect is poor. On the market, the over-falling group stocks rebounded collectively, Shanxi Fenjiu and Yao Ming Kant rose sharply, and the theme was weak, with only carbon neutralization, secondary new stocks, brokerages, coal and other active intraday trading; on individual stocks, high standards continued to make up the decline. Jimin Pharmaceutical, Taiyuan heavy Industry and other stocks fell by the daily limit, only 4 board stocks, short-term mood entered the freezing point, but in the afternoon, the short-term fund game intensified, Taurus Chemical rose by the daily limit, and the whole-day amplitude reached 19%. Overall, the market after a sharp fall after the mood stabilized, short-term or mainly shrinking shock, focusing on holding stocks to repair continuity. On the market, spirits, coal, carbon neutralization and other plates led the increase, while dyes, mining services, port shipping and other plates led the decline. As of the close, the Prev index rose 0.05% to close at 3357 points; the Shenzhen Composite Index rose 0.65% to close at 13563 points; and the gem index rose 1.64% to close at 2676 points. Shanghai shares have a net inflow of 3.989 billion, while Shenzhen stocks have a net inflow of 1.236 billion. "View details