SMM4 March 23: there are ups and downs in the non-ferrous metals market this morning. By midday, international copper rose 0.37%, Shanghai copper rose 0.27%, Shanghai aluminum rose 0.44%, Shanghai lead fell 0.16%, Shanghai zinc fell 0.21%, Shanghai nickel fell 0.24%, Shanghai tin fell 0.42%. In terms of aluminum, the narrow range of Shanghai aluminum 05 contract fluctuated 18200-18250 yuan / ton before noon, and spot transactions in East China concentrated 18200-18220 yuan / ton. For 30 to 10 yuan per ton of discount in that month, it is more difficult to close a deal with the supply of flat-water goods in that month. The enthusiasm of shippers in East China has increased significantly today. On the one hand, there is a demand for preparation of goods downstream, on the other hand, the absolute price is high. In addition, the price difference between 05 and 06 switches quickly between C and B, and the price pressure of 05 is slightly higher.
"the consignor actively expands the present aluminum discount when it is shipped at a high price.
In terms of black, thread rose 0.88%, hot coil rose 0.32%, coking coal rose 0.26%, coke fell 0.08%, iron ore rose 0.18%, stainless steel rose 0.25%. The blast furnace operating rate tracked by SMM rebounded by 1.3% to 85.8% this week, and 1.3% month-on-month; steel mills continue to be enthusiastic about production under the stimulation of high profits. However, Handan City yesterday released a production regulation plan for key industries in the second quarter of this year, which involves production regulation and control after rating in related industries such as iron and steel (including independent pelletizing plants), or has an impact on the procurement rhythm of raw materials in local steel mills. Taking into account the recent slowdown in finished material inventory decline, steel mill profits are expected to narrow, the support for raw materials is weaker; however, due to the current spot prices of imported ore ports are still strong, traders are willing to push up prices, spot prices may still be supported.
Crude oil rose 0.33% in the previous period, and international oil prices rose on Friday. Fuel demand in the United States and Europe is expected to recover as economic growth accelerates and blockades are relaxed, but the rise in oil prices is limited by concerns about the second wave of the epidemic in India. Us refinery Valero says gasoline and diesel demand has rebounded to 93 per cent and 100 per cent of pre-outbreak levels. Gary Simmons, chief business officer, said the company was "very optimistic about the outlook for gasoline."
In terms of precious metals, Shanghai gold fell 0.2%, Shanghai silver IE0.73%, international gold prices rose on Friday, and the weekly line is likely to rise for the third week in a row, as the dollar weakens, US Treasury bond yields fall, and the stock market falls after US President Joe Biden's proposal to raise capital gains tax. Investors are encouraged to buy gold. Initial jobless claims in the US fell to a 13-month low last week, indicating fewer job cuts and boosting expectations that jobs will rise sharply again in April as the economic restart unleashed pent-up demand.
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