[SMM Daily Review] Nonferrous floating red gold and silver under pressure downward black series slowly upward oil weakening

SMM5 March 27: the whole line of non-ferrous metals is red today. by the end of daytime trading, international copper rose 0.13%, Shanghai copper rose 0.11%, Shanghai aluminum rose 1.01%, Shanghai lead rose 0.42%, Shanghai zinc rose 1.14%, Shanghai nickel rose 0.71%, and Shanghai tin rose 1.06%. In terms of copper, today, the main 07 contract of Shanghai Copper fell and rebounded within the day. After the morning market opened near the daily moving average, the center of gravity quickly moved down, and after exploring a low of 71390 yuan / ton, the center of gravity gradually recovered from the low level. In the second period, the center of gravity returned to a narrow range of 71700 yuan / ton above the daily moving average, and the upsurge was blocked by 71780 yuan / ton around 11:00. When the market opened in the afternoon, the disk rose sharply by 600 yuan / ton. after touching a high of 72320 yuan / ton, it was rectified around 72200 yuan / ton in a narrow range, and the disk surface was mostly flat, and the disk pullback finally closed at 71940 yuan / ton.

[brief Review of SMM Copper] the pressure above the rise of 72000 yuan in Shanghai copper is obvious.

In terms of aluminum, from a fundamental point of view, the disturbance at the supply side continues-- the limited production area in Inner Mongolia has expanded slightly, the output affected by power cuts in Yunnan has not yet been restored, and the early commissioning of new production capacity in Guangxi has also been suspended due to the shortage of its own electricity and the southern power grid. at the same time, with the boost of the peak season of aluminum demand, the social inventory of electrolytic aluminum has gone to the warehouse level of 58000 tons this week. We maintain the previous point of view unchanged, in the context of the current macro-control, aluminum prices do not have the conditions for a substantial rise, but the lower space is also supported by fundamentals, it is expected that the night shock will run in ….

[brief Review of SMM Aluminum] smooth removal of storage, superimposed supply-side disturbance and continuous fundamentals give strong support to Shanghai Aluminum.

In terms of lead, Shanghai lead first suppressed and then rose during the day, and the bulls entered the market again, with strong shocks at the end of the day, bearing pressure on the middle track of Bollinger Road, recording a long shadow line positive column. Considering the high income of primary lead by-products, the deep removal of raw materials from the refinery led to the start-up not falling, but the lack of consumption drive, the destocking of end-product batteries has not significantly improved, and the social lead inventory is relatively high, it is expected that it is difficult for the short-term lead market to get out of the range concussion. at night, we should pay attention to whether the Shanghai lead bulls will continue to work to boost the 5-day moving average target of the Shanghai lead station.

[brief Review of lead in SMM period] Shanghai lead receives second Lianyang pressure Bollinger Road Middle Rail pay attention to the target level of the 5-day moving average above at night.

In terms of tin, the tin center of gravity in Shanghai continued to rise today, and the bulls actively increased their positions, finally closing at 198850 yuan / ton, up 1430 yuan / ton from the previous day. According to foreign news on May 26th, the Earthquake in the eastern city of Goma in the Democratic Republic of the Congo delayed the export of tin deposits in mineral-rich North Kivu province. Affected by power cuts in Yunnan, the shutdown of a large local smelter led to a shortage of supplies in the spot market, a strong shock of tin in Shanghai, and current resistance.

[SMM Tin brief Review] delayed tin prices for export of tin mines caused by Earthquake in Congo remain strong.

As for the black system, the thread rose 0.23%, the hot coil rose 0.5%, the coking coal rose 1.33%, the coke rose 1.36%, the iron ore rose 1.11%, and the stainless steel rose 1.31%. Due to the influence of the policy, the black system continues to decline, and the country's determination to stabilize prices is firm and strong. Recently, prices have fallen back to the levels of March and April. Prices rise and fall greatly, downstream merchants have no profits, only when the prices of raw materials fall, can the industrial chain operate normally, and the state is also actively supporting small and medium-sized enterprises to cope with the impact of price changes.

[SMM Analysis] Steel prices continue to fall, how should all parties respond?

The previous period of crude oil fell 0.8 per cent, while international oil prices fell on Thursday, but remained within this week's narrow range, as optimism about the summer driving season in the US and Europe offset concerns about Indian demand and a possible increase in Iranian supply. Us oil stocks fell more than expected on Wednesday, supporting the oil market, but there are still concerns about shrinking demand in India, the world's third-largest oil consumer.

In terms of precious metals, Shanghai gold fell 0.33% and Shanghai silver fell 1.76%. International spot Jinjia held near the $1900 / oz mark on Thursday as investors waited for key US economic data and a stronger dollar put pressure on gold prices. The dollar index rose to an one-week high, making gold more expensive relative to investors holding other non-dollar currencies. At present, market participants are waiting for the US personal consumption report to be released on Friday, in order to study the inflationary pressure in the United States. Us GDP data and initial jobless claims data will be released later today.

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[stock market close] Prev once returned to 3600 points, titanium dioxide, carbon neutralization and other sectors led the gains.

Index differentiation throughout the day, Prev once returned to 3600 points, the gem index performance is weak, plate differentiation is obvious, the concept of degradable plastic broke out, Ruifeng high wood and other stocks rose by the daily limit, in addition, carbon neutralization continues to be sought after by funds. however, yesterday's strong performance of the brokerage, medical beauty has been adjusted, the overall plate of the plate continues to be poor. On the disk, biodegradable plastics, titanium dioxide, carbon neutralization, real estate and other sectors led the rise, while medical beauty, media, semiconductors, health care and other sectors fell in the forefront. As of the close, the Prev index rose 0.34% to close at 3593 points; the Shenzhen Composite Index fell 0.36% to close at 14793 points; and the gem index fell 0.95% to close at 3196 points. "View details