SMM6 March 9: the whole line of non-ferrous metals is red this morning. By midday trading, international copper rose 0.82%, Shanghai copper rose 0.63%, Shanghai aluminum rose 0.25%, Shanghai lead rose 2.53%, Shanghai zinc rose 0.31%, Shanghai nickel rose 1.95%, and Shanghai tin rose 2.29%. On the tin side, refined tin production in May was 13768 tons, down 11.20% from April, according to SMM. The news of power cuts and outages of private tin factories in Yunnan provides support for tin prices. according to the latest understanding of SMM, the state of power cuts and outages of tin factories in Yunnan has been partially restored, the furnaces with high power consumption are still in a state of shutdown, and some of the electrolysis links have resumed operation to a certain extent.
"[SMM Analysis] Refining tin decreased by 11.2% in May compared with the previous month.
For the black system, the thread rose 2.56%, the hot coil rose 2.63%, the coking coal rose 3.66%, the coke rose 4.87%, the iron ore rose 5.31%, and the stainless steel rose 2.32%. In terms of hot rolls, it is estimated that the total market resources will arrive at 185500 tons this week, a month-on-month decrease of-26000 tons, a drop of 12%. This week, the arrival of goods in the Shanghai market increased slightly compared with the previous month, and the increment was dominated by northeast resources. The early volume price fell sharply, the enthusiasm of market traders to place orders decreased, and the arrival of price-locking resources gradually reduced in the past two weeks. at the same time, the diversion capacity of the surrounding markets (Jiangsu and Zhejiang) gradually increased, and the actual arrival of goods in Shanghai decreased relatively. Looking back, market prices in South China remain weak, the price gap between East China and South China is widening, and Baosteel's new Zhanjiang rolling line will be put into production, further increasing the pressure on the supply of resources in South China, and East China may become a market for Synchronize.
Crude oil rose 2.37% in the previous period, and international oil prices rose for the second day in a row on Wednesday, amid signs of strong fuel demand in Europe, and the US secretary of state said sanctions against Iran were unlikely to be lifted, leaving the prospect of a short-term recovery of Iranian oil supplies bleak. With the lifting of travel bans in Europe and more people being vaccinated, the market has been boosted by solid prospects for growth in fuel demand.
In terms of precious metals, Shanghai gold fell 0.09% and Shanghai silver fell 0.52%. International gold prices rose slightly on Wednesday, driven by falling US bond yields, as investors avoided heavy positions ahead of US inflation data and this week's ECB policy meeting. Us small business confidence fell slightly last month for the first time in four months, as national labor shortages and inflation concerns weighed on the economic outlook of business owners, according to a survey released on Tuesday.
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Afternoon comment on the stock market: coal mining leads the rising plate index.
The concept of coal mining strengthened in early trading on Wednesday, setting off a rising and stopping trend in the plate. As of press time, Haohua Energy, Orchid Kechuang, Shan Coal International, Xinji Energy rose by the limit, Lu'an Ring Energy rose 9.8%, Yanzhou Coal Industry, Jin Control Coal Industry and other stocks rose. At present, the market expects to spend the summer at the peak and is expected to support coal prices. According to the Coal Resources Network, although some enterprises have received the task of ensuring supply, under the influence of the National Security month, coal mines are unwilling to overproduce, and the increase in the supply of producing areas is limited. As for imported coal, due to the sharp rise in overseas coal prices and the weakening of import advantages, it is difficult to become an effective means to make up for the supply gap. At the same time, the demand side will meet the peak and spend the summer soon, and the demand for replenishment of inventory will support the coal price.
"[hot stocks] Coal mining led the rising plate index Haohua Energy, Orchid Kechuang, Mountain Coal International and other stocks rose by the daily limit.
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[hot stocks] Coal mining led the strong plate index Haohua Energy, Orchid Kechuang, Mountain Coal International and other stocks rose by the daily limit.
