SMM3 March 16: yesterday, most of the metals in the outer plate were red, Lun copper rose nearly 0.4%, Lun aluminum rose nearly 2.3%, Lunzn zinc rose nearly 1.9%, Lunni rose nearly 1.1%, Lunxi fell nearly 1.5%, Lunren lead rose nearly 0.3%, and (LME) copper rose on the London Metal Exchange on Monday. Previous data showed that industrial growth in China, the largest consumer of metals, was stronger than expected, and aluminum prices jumped. Earlier, the city of Baotou in Inner Mongolia announced measures to reduce energy consumption. The National Bureau of Statistics announced on Monday that from January to February, China's industrial production value increased by 35.1% in real terms compared with the same period last year, 16.9% higher than in the January-February period of 2019, and an average growth rate of 8.1% in two years. On the domestic side, international copper fell slightly, with Shanghai copper up nearly 0.1%, Shanghai aluminum up nearly 2.1%, Shanghai lead up nearly 0.3%, Shanghai zinc up nearly 0.9%, Shanghai nickel up nearly 0.7%, and Shanghai tin down nearly 0.1%.
The dollar index rose 0.15% to 91.80, with the dollar rising more sharply against low-yielding currencies such as the euro and sterling, while higher-yielding currencies such as the Australian dollar performed slightly better. In addition to the Federal Reserve, the Bank of England and the Bank of Japan will also meet this week, and all three central banks are likely to set the tone for global interest rates. However, ahead of these central bank meetings, US Treasury yields fell along with eurozone Treasury yields on Monday. The benchmark 10-year us bond yield was at 1.61 per cent at the end of the day, with an intraday high of 1.639 per cent, close to 1.642 per cent, the highest since February 2020 hit on Friday.
U.S. stocks closed higher on Monday, with the Dow and the S & P (3968.9399, 25.60,0.65%) hitting new intraday and closing highs. Us bond yields tend to stabilize. The market expects the $1.9 trillion stimulus package to help accelerate growth in the already restarted U. S. economy. This week's focus is on the Fed's monetary policy meeting and Powell's press conference. The Dow rose 174.82 points, or 0.53%, to 32953.46; the Nasdaq rose 139.84 points, or 1.05%, to 13459.71; and the S & P 500 rose 25.60 points, or 0.65%, to 3968.94.
In terms of crude oil, NYMEX crude oil futures edged lower on Monday after rising earlier in the day, driven by strong Chinese economic data and continued supply constraints from major oil producers. Brent crude failed to hold the mark after briefly breaking through the $70-a-barrel mark on Monday. With the increase in the number of COVID-19 cases and a new round of blockades in Europe, there are fears that energy demand may fall. However, economic data from China provide signs of strong demand.
In precious metals, COMEX gold futures closed higher on Monday, while U.S. Treasury yields fell, helping gold close at its highest level in nearly two weeks. Investors are waiting for the results of the Fed's monetary policy meeting this week to gauge the next move in gold prices. Gold prices were volatile after the release of US economic data on Monday, but eventually gave up some of their gains. The New York Fed's manufacturing index rose to 17.4 in March, the highest since May 2019 and 12.1 in February.
In terms of data, the National Bureau of Statistics: from January to February, the production of industrial raw coal, natural gas and electricity above scale increased rapidly compared with the same period last year, and crude oil production remained stable. Taking January-February 2019 as the base period, the average growth of raw coal, crude oil and electric power production is relatively stable in two years, while the average growth of natural gas production in two years is relatively fast. Crude oil production maintained a steady growth over the same period last year, with an average daily increase compared with the previous year. From January to February, crude oil production was 32.08 million tons, an increase of 0.4 percent over the same period last year, an increase of 4.1 percent over January-February 2019, and an average increase of 2.0 percent in two years.
From January to February, retail sales of consumer goods totaled 6.9737 trillion yuan, an increase of 33.8 percent over the same period last year, an increase of 6.4 percent over January-February 2019, with an average two-year growth rate of 3.2 percent. Of this total, retail sales of consumer goods other than cars totaled 6.3076 trillion yuan, an increase of 30.4 percent, with an average growth rate of 2.9 percent in two years. After deducting the price factor, the total volume of retail sales of consumer goods increased by 34.3% in real terms from January to February of 2021, with an average growth rate of 1.2% in two years.
Crude oil imports increased slightly, and international crude oil prices continued to rise. Imported crude oil was 89.57 million tons, up 4.1 percent from the same period last year. International crude oil prices continued to rise. On February 26th, the spot FOB price of Brent crude oil was 65.86 US dollars per barrel, up 30.8 per cent from 50.37 US dollars per barrel on January 4.
Liu Aihua, spokesman for the National Bureau of Statistics: the current work of the Seventh National population Census has reached the final stage of data examination and collection. We initially plan to hold a press conference in early April to announce the results of this census. The economic operation from January to February this year continues the trend of stable recovery since last year, the economic cycle is increasingly smooth, and market expectations continue to improve. But at the same time, we should be soberly aware that the current international situation is still complex and grim, and the foundation for domestic economic recovery is not yet solid, so it is still necessary to further consolidate the basic economic market in accordance with the spirit of the Central Economic work Conference and the deployment of the "Government work report." we will promote a sustained and stable recovery of the economy.
