SMM2 March 9: most of the non-ferrous metals market is red in the morning. by midday, international copper is up 1.55%, Shanghai copper is up 1.43%, Shanghai aluminum is up 1.24%, Shanghai lead is up 0.79%, Shanghai zinc is down 0.45%, Shanghai nickel is up 1.6%, and Shanghai tin is down 2.16%. In terms of zinc, data released by the London Metal Exchange (LME) show that in the past half a month, Lun zinc stocks have fallen back to 289725 tons, a more limited decline. Earlier, zinc stocks on the futures exchange had been delivered substantially for two consecutive days, with a cumulative increase of about 100, 000 tonnes to more than 290000 tonnes. Data released last week showed that zinc stocks in Shanghai continued to climb, with weekly inventories surging more than 30 per cent to 60361 tons in the week of February 5, a two-and-a-half-month high.
As for copper, today, the spot price of electrolytic copper in Guangdong province rose 20-40 yuan to the contract for the same month, and the average price rose 30 yuan / ton, down 40 yuan / ton compared with the previous trading day; wet copper quoted a discount of 30 yuan / ton-20 yuan / ton, and the average price discount of 25 yuan / ton was 30 yuan / ton lower than that of the previous trading day. The average price of electrolytic copper is 59335 yuan / ton, and the average price of wet copper is 59280 yuan / ton.
SMM Guangdong Copper spot Market KuaiBao: strong pre-festival atmosphere for holders to continue spot transfer orders
In terms of zinc, the mainstream transaction of zinc in Shanghai was 19,935,20055 yuan / ton, the price of zinc was quoted at 20,30yuan / ton in March, and the mainstream transaction of zinc in Shanghai was 19,865,19985 yuan / ton. There is little trading in the market today; there are holidays in the lower reaches, and spot rising water remains low and stable.
[SMM afternoon Review] Shanghai Zinc: there is little trading in the market and the spot remains sluggish.
Pre-festival consumption further weakened, superimposed downstream enterprises holiday, Ningbo market few quotations, spot transactions are still light. Tiefeng quoted a price of about 20 yuan per ton for the 2103 contract, which remained level with Shanghai, but there were few deals. The high-priced brand Huize raised the water by 120 yuan per ton to the 2103 contract, with a small number of transactions.
"SMM afternoon Review] Ningbo Zinc: Ningbo market consumption is still weak before the year
In terms of black series, thread rose 1.69%, hot coil 2.24%, coking coal 3.21%, coke 2.3%, iron ore 3.59%, stainless steel 0.42%. At present, the supply and demand of rebar is weak. Affected by the Spring Festival in February, demand is sporadic, although the supply side continues to decline, but slightly higher than the same period of last year's lunar calendar, inventory is expected to continue to accumulate after the festival, the return scale of about 1300-14 million tons. However, after the huge inventory phase caused by the 2020 epidemic (thread inventory peaked at 21.46 million tons in 2020), the market's tolerance and tolerance for high inventory has been greatly improved. At the same time, as the goods rights of winter storage resources this year are mostly concentrated in the hands of steel mills and agents, and steel mills are very willing to raise prices under high production costs, even if the cumulative value of post-holiday inventory is slightly higher than the level of previous years, it will not cause too much pressure on the market. The spot price is lack of downward power, and after the demand starts gradually, the spot price is still on the strong side.
[SMM Thread February production scheduling report] Foreign Trade profit is better. Domestic thread supply shrank by 2.32% in February.
Last period crude rose 3.01 per cent, US crude rose slightly, oil prices rose to a more than one-year high on Monday, and Brent crude futures exceeded $60 a barrel, buoyed by production cuts in major oil-producing countries and hopes of more stimulus measures in the US. Analysts pointed out that another successful break of $60, the feeling that the market has finally resurfaced after a long struggle, it gives people a sense of returning to normal.
In terms of precious metals, Shanghai gold rose 1.65%, Shanghai silver rose 2.22%, and spot gold rose slightly, breaking the 1840 mark at one point, reaching a four-day high of US $1841.17 / oz, and the daily level is expected to rise three times. Expectations of the Biden 190 million stimulus package and the fall of the dollar to an one-week low support gold prices.
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