SMM5 March 24: non-ferrous metals fell across the board today. By the end of the day, international copper fell 1.58%, Shanghai copper fell 1.36%, Shanghai aluminum fell 3.52%, Shanghai lead fell 1.7%, Shanghai zinc fell 1.05%, Shanghai nickel fell 1.88%, and Shanghai tin fell 1.41%. Base metal prices fell on Monday as Chinese regulators interviewed key companies in the domestic commodity market. On the morning of May 23, five departments, including the National Development and Reform Commission, the Ministry of Industry and Information Technology, the State-owned assets Supervision and Administration, and the Securities Regulatory Commission, jointly interviewed key enterprises with strong market influence in iron ore, steel, copper, aluminum and other industries.
The meeting made it clear that in the next step, the relevant regulatory authorities will closely monitor the trend of commodity prices, strengthen the linkage supervision of commodity futures and the spot market, "zero tolerance" for illegal activities, and continue to step up law enforcement and inspection. we will investigate abnormal transactions and malicious speculation, resolutely and strictly investigate and deal with illegal acts such as the implementation of monopoly agreements, the dissemination of false information, price hikes, hoarding and other illegal activities in accordance with the law.
In terms of copper, the main 07 contract in Shanghai today bottomed out again within the day. After a small low opening in the morning market, after bottoming out at 71060 yuan / ton, copper prices quickly stopped falling and warmed up below the daily average line, with a narrow range of 71630 yuan / ton. After opening in the afternoon, the center of gravity moved slightly down 71220 yuan / ton, then returned to near the daily moving average again in late trading, and finally closed at 71640 yuan / ton.
[brief Review of SMM Copper Futures] Shanghai Copper continues to lose another 1.5% to test the Brin middle track.
In terms of lead, during the day, Shanghai lead fluctuated weakly in the context of national macro-control and the overall callback of all ferrous metals. Social inventory continued to accumulate slightly on Monday, the main force of Shanghai lead once again ushered in a short position increase, recorded a big negative column, KDJ upward exposure tightened, MACD red column from red to green, the technical side slightly more short trend. The recent tight supply of raw materials and lead ingot inventory accumulation of long-short factors still maintain a fierce game, night attention to Shanghai lead under 15400 yuan / ton first-line support.
[brief Review of lead in SMM period] the main force of Shanghai lead once again ushered in the short positions and left the market to focus on 15400 yuan / ton first-line support at night.
In terms of black series, threads fell 3.57%, hot coil fell 3.9%, coking coal fell 0.23%, coke fell 1.67%, iron ore recovered slightly after falling to the limit, down 5.21%, stainless steel fell 1.19%. From a fundamental point of view, iron ore demand is still supported, domestic blast furnace operating rate tracked by SMM rebounded slightly, superimposed inventory in most steel mills continued to digest, and most steel mills still had procurement demand. The average daily dredging volume of imported mines may be expected to pick up. In the short term, the negative news depressed the overall prices of black and non-ferrous metals, and sentiment dragged down spot prices in the next period. However, the fundamentals have not changed much, and the iron ore is expected to stabilize and fluctuate after the collapse.
"[market changes] the black series of Sucker Punch fell sharply at the opening of trading at the weekend, and the iron ore was once close to the limit.
Crude oil rose 2.1 per cent in the previous period, and international oil prices recovered some of last week's losses on Monday because of a potential obstacle to reviving the 2015 Iran nuclear deal, which could help increase oil supplies. Indirect talks between Washington and Tehran will resume this week.
In terms of precious metals, Shanghai gold rose 0.21% and Shanghai silver fell 0.44%. International gold prices climbed on Monday, hovering near a four-and-a-half-month high, supported by a weak dollar and increased inflationary pressures, while the decline in the cryptocurrency further boosted the attractiveness of safe-haven gold.
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[stock market close] Shanghai and Shenzhen stock indexes bottomed out and rebounded generally in steel, automobile and other sectors.
The Shanghai and Shenzhen stock indexes bottomed out and rebounded, individual stocks in the two markets showed a pattern of rising more than falling less, subject stocks were relatively active, nearly 80 stocks in the two markets rose by more than 9%, and second-tier liquor stocks continued to develop. Many stocks such as Elite, Dahao Technology, Old White dry Liquor, Green Barley Liquor and Yuyuan shares rose by the daily limit, lithium stocks were greatly divided, and upstream resource stocks were collectively adjusted. In addition, the performance of high-bid stocks in the market is relatively weak. Oriental Silver Star, Shandong Molong, Huayin Electric Power have all plummeted, overall, the market is still a trend plate rotation pattern. On the market, spirits, domestic software, securities, paper and other plates led the increase, while steel, electric power, automobile, shipping and other plates fell in the forefront. As of the close, the Prev index rose 0.31% to close at 3497 points, the Shenzhen Composite Index rose 0.62% to close at 14506 points, and the gem index rose 0.85% to close at 3139 points. Shanghai shares have a net inflow of 572 million, while Shenzhen stocks have a net inflow of 1.314 billion. "View details
Related readings:
[SMM Express] the center of gravity of copper prices continued to move downwards, falling by more than 2% on the day.
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[market changes] the black series of Sucker Punch fell sharply at the opening of trading at the weekend, and the iron ore was once close to the limit.
