SMM7 March 7: most of the non-ferrous metals are green in the morning. by midday, international copper fell 1.71%, Shanghai copper fell 1.64%, Shanghai aluminum fell 1.85%, Shanghai lead rose 0.41%, Shanghai zinc fell 0.23%, Shanghai nickel fell 2.29%, and Shanghai tin fell 1.16%. In terms of aluminum, Shanghai Aluminum reduced its positions in early trading that month, and the focus of trading fell back to 18800-19000 yuan / ton. the spot transaction in East China was 40-30 yuan / ton that month, and the focus was 18830-18850 yuan / ton. after the fall in aluminum prices, it stimulated downstream and middlemen to prepare goods, and the mood of receiving goods increased, and the activity of the market rebounded significantly compared with the previous two days. However, from the overall discount intensity, consumption off-season situation, spot discount narrowing resistance.
"Shanghai Aluminum continues to reduce its positions and withdraw the spot discount in East China.
In terms of black series, threads rose 1.81%, hot rolls rose 2.43%, coking coal fell 2.78%, coke 3.3%, iron ore 1.34%, stainless steel 0.6%, hot rolls, black series rose sharply in the past two days. On the one hand, the news of production reduction in steel mills spread frequently. Yesterday, there were rumors of production reduction in Northeast, East, Southwest and other regions, and the disk is expected to strengthen. At the same time, the spot match is relatively high. Steel mills take orders and trade transactions are more active, market sentiment significantly warmed up. Hot roll main contract has been close to 5160 points before the high, is expected to break through the concussion range of a month. In the short term, the profit related to supply-side reduction will continue to be exported, the willingness of steel mills to push up the price is strong, and the support at the bottom of the volume price is stronger than in the previous period, but the supply and demand are both weak, and the decline of hot coil fundamentals has not yet been reversed. In the later stage, we should be on guard against the correction risk caused by less than expected supply reduction.
The previous period of crude oil fell 4.94%, and international oil prices stabilized on Wednesday after a sharp fall in the previous day, after oil policy negotiations among OPEC producers were suspended, which could lead the world's major crude oil exporters to increase production to grab market share.
In terms of precious metals, Shanghai gold rose 0.33%, while Shanghai silver fell 1.19%. International gold prices rose slightly on Wednesday, hovering below the three-week high reached last day, and the rebound in the dollar put pressure on safe-haven gold ahead of the release of the minutes of the Federal Reserve / FED policy meeting in June. The dollar index hovered near a three-month high hit last week, making gold more expensive for holders of other currencies.
Close by noon
"check the metal futures market.
