[SMM afternoon Review] the rebound of the US dollar puts pressure on non-ferrous Shanghai and tin to rise 1.42% against the trend. Pre-festival replenishment is expected to boost the intraday rise of iron ore by more than 2%.

SMM9 March 3: recently, the dollar began to rebound, the dollar index fell to 91.73 points, and then rebounded. It opens the door to retest the 93.50 resistance level, and if it breaks through this resistance level, the increase will further expand to 94.50. The non-ferrous metals market was collectively under pressure, but Shanghai tin bucked the trend by 1.42%. Tin, yesterday's Shanghai tin 2011 contract opened at 146510 yuan / ton, Shanghai tin climbed up to reach the highest point of 147490 yuan / ton, the upper pressure is expected to be near the integer level of 148000 yuan / ton. Tin futures in London hit a 19-year high in July as market sentiment was boosted by improving macro data and falling inventories and expectations of strong demand. However, the fundamentals of tin have not changed much, and the entry of long funds has also pushed up the price of tin.

Shanghai Aluminum opened low and went high today, bottoming out for a short period of time after 3 consecutive overcast. The industry believes that the current level of supply and demand does not support the excessive rise in aluminum prices, terminal consumption still needs to be tested, and it is necessary to pay close attention to the changes of domestic aluminum inventory. Overall, it is believed that the summer off-season in July and August is not light, and it is expected that the future trend of aluminum prices will still be mainly shock upward after entering September.

Black iron ore rose 1.71%, thread rose 0.53%, hot coil fell 0.1%. The analysis shows that the overall structure of high steel supply and high inventory has not changed, which limits the rising space. But at the same time, the electric arc furnace, as a capacity regulator, is currently on the edge of break-even, the price of scrap is relatively strong, the cost support of raw materials such as iron ore and coke is strong, and the profit space of steel mills is compressed, these factors will form effective support to the disk. The core of 10 contract trading is delivery, the hot volume is in a state of discount, and it is easy to rise but difficult to fall. New real estate construction is still growing compared with the same period last year, cement shipments continue to rise, digging machine sales hit a record high in the same period and other multiple favorable conditions, late consumption can still be expected.

Crude oil fell 2.42% in the previous period. International oil prices were little changed at the beginning of the session on Thursday, remaining near a multi-week low hit overnight as concerns about fuel demand were raised by the shaky pace of the US economic recovery. Us crude oil futures are currently up 0.06 US dollars, or 0.14%, at 41.57 US dollars a barrel. Brent crude futures held steady at $44.43 a barrel. Crude oil futures of both indicators fell more than 2% on Wednesday, with u.s. crude falling to its lowest closing level in nearly four weeks and Brent crude at its lowest level since august 21, after the fed's survey of the economic recovery was not very optimistic.

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