[SMM afternoon Review] non-ferrous metals are down, precious metals are down, gold and silver are down more than 3%.

SMM8 March 9: domestic non-ferrous metals fell today, and fell after the opening of early trading. By midday, international copper fell 1.37%, Shanghai copper fell 1.21%, Shanghai aluminum rose 0.18%, Shanghai lead fell 1.81%, Shanghai zinc fell 0.97%, Shanghai nickel fell 3.55%, and Shanghai tin fell 0.31%.

As for copper, the spot price of electrolytic copper in North China today offered a discount of 20 yuan / ton to the monthly contract, and the average price rose 40 yuan / ton. The average price was the same as the previous trading day. The transaction price was 69330-69600 yuan / ton, and the average price was 69465 yuan / ton lower than the previous trading day. Copper prices remained low and volatile today, with the focus of trading slightly lower than in the previous session. On the spot side, copper prices fell, making the fine waste gap further narrowed, downstream mostly changed to the procurement of electrolytic copper rods, some electrolytic copper rod enterprises all open active production.

[SMM North China Copper spot] downstream consumption is improving and rising water has upward momentum.

In terms of zinc, the mainstream turnover of zinc in Guangdong was 22520-22620 yuan / ton, and the quotation was concentrated on the 2109 contract for Shanghai zinc, which rose 110 yuan / ton compared with the Shanghai market, an increase of 20 yuan / ton over the previous trading day. The first trading session, the weekend delivery is limited, the holder is still positive price delivery, that is, the initial price rise of 30-40 yuan / ton quotation, downstream rigid demand procurement. [SMM afternoon Review] Guangdong Zinc: the market arrival volume is limited and the spot rising water continues to rise.

In terms of nickel, the price of nickel fell due to the disturbance of macro sentiment, the spot market of nickel board was active, traders were active in shipments, the spot price of nickel board rose rapidly, and the mainstream quotation of Russian nickel remained at 450 million 500 yuan / ton. Jinchuan nickel mainstream quotation is concentrated at 1500 to 1700 yuan / ton; in terms of nickel beans, nickel beans continue to arrive actively this week, spot traders actively ship, downstream take goods on demand today, nickel beans rise water performance is relatively stable.

[SMM Nickel spot Daily Review] High Nickel prices fall to stimulate downstream Purchasing sentiment

For the black system, the thread fell 0.41%, the hot coil rose 0.03%, the coking coal rose 0.27%, the coke rose 0.96%, the iron ore fell 3.58%, and the stainless steel fell 4.47%. Market expectations for the decline in iron ore demand due to crude steel reduction tend to be consistent. Recent high-frequency steelmaking data show that the actual output of hot metal has declined substantially, and Hong Kong stock is at the median level over the years. And after the release of port resources, there is also a certain expectation that iron ore supply and demand will continue to be loose.

Crude oil fell 3.49 per cent in the previous period, and oil prices fell on Monday, extending last week's sharp decline as the dollar rose and fears that the recovery in global fuel demand could be hampered by new epidemic containment measures in Asia, particularly in China.

In terms of precious metals, Shanghai gold fell 3.06% and Shanghai silver fell 3.81%. Domestic precious metals fell sharply, and Shanghai gold fell more than 3%, hitting its lowest level since April 1. The main force of the Shanghai Bank plunged nearly 4%, hitting its lowest level since March 31. The dollar index rose sharply and gold and silver fell under pressure as the US non-farm payrolls data far exceeded expectations, suggesting that the economy maintained strong momentum in the early second half of the year, boosting expectations of the Fed's announcement of a reduction in bond purchases.

By the close of noon, the contracts in the metals and crude oil markets were as follows:

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