SMM8 March 27: today's LME metal market is mixed. As of 09:30 in the morning, Lun Copper fell 0.1%, Lun Aluminum rose 0.3%, Lun lead rose 0.2%, Lunzn Zinc and Lunni fell nearly 0.4%, and Lunxi was flat. Domestically, most non-ferrous metals are green, international copper is down nearly 0.6%, Shanghai copper is down nearly 0.5%, Shanghai aluminum is up nearly 0.9%, Shanghai lead is down nearly 0.2%, Shanghai zinc is down nearly 1%, Shanghai nickel is down nearly 2.2%, and Shanghai tin is down nearly 0.5%. In terms of black series, threads fell by nearly 1.6%, hot rolls by nearly 2%, coking coal by nearly 3.3%, coke by nearly 4.4%, iron ore by nearly 0.5%, stainless steel by nearly 1.9%, crude oil by nearly 0.1%, and precious metals. Shanghai gold is up nearly 0.4%. Shanghai silver fell nearly 1%.
In terms of aluminum, the overnight Shanghai aluminum main 2110 contract opened at 20485 yuan / ton, with a minimum of 20460 yuan / ton and a maximum price of 20750 yuan / ton to close at 20640 yuan / ton, an increase of 1.10%. On Thursday morning, Lun Aluminum opened at US $2620 per ton, with a minimum of US $2593.5 per ton and a maximum price of US $2639 per ton to close at US $2620 per tonne. The daily line recorded a long shadow line. Recently, Changji Prefecture in Xinjiang requires total amount control of local electrolytic aluminum, involving an annual operating capacity of nearly 360000 tons. Aluminum prices hit a new high at night under the news. Supply-side disturbances are expected to continue to support aluminum prices. Continue to pay attention to the follow-up consumption changes, inventory trend, provincial energy consumption double control policy and so on.
Thread, yesterday's snail main contract dived in the afternoon, spot prices fell, low prices are OK, the overall transaction is weak. At this stage, the demand is still flat, the transaction is poor, the rise in steel prices is lack of power, the market fear of heights is still there, coupled with the recent rise in threads is more driven by raw materials, in the short term, the thread will be in a concussion or shock downward trend. According to SMM research, the total inventory of building materials across the country this week is 1.0% lower than last week, and 3.0% lower than the same period last year. Considering that the supply will remain low under the pressure of production restrictions, the downward trend of inventory is expected to continue, and the decline in inventory will gradually expand. In the medium to long term, there is still room for steel prices to rise.
As of 09:30, the status of contracts in the metals and crude oil markets:
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"[SMM Metal Morning reference] Metals are mixed | Aluminum prices in Changji Prefecture control electrolytic aluminum production capacity hit a new high | Lithium Iron Phosphate capacity expanded greatly in the second half of the year.
[minutes of SMM Copper Morning meeting] overnight copper high volatility market waits for Taper signal guidance of the Federal Reserve's annual meeting.
[summary of SMM Aluminium Morning meeting] the supply side of the epidemic in Zhengzhou, Nanjing is still disturbed frequently.
"[minutes of SMM lead Morning meeting] overnight macro-negative, colored general decline, recycled refined lead discount is OK to maintain trading.
[minutes of SMM Zinc Morning meeting] Shanghai Zinc shock weak Market waits for guidance of the Federal Reserve's Annual meeting
[minutes of SMM Iron and Steel Morning meeting] the sixth round of continuous thread hot rolling reached double weakness.
