SMM3 March 1: today, non-ferrous metals fell sharply across the board. By the end of the day, international copper fell 2.84%, Shanghai copper fell 2.46%, Shanghai aluminum fell 2.18%, Shanghai lead fell 2.51%, Shanghai zinc fell 1.52%, Shanghai nickel fell 2.44%, and Shanghai tin fell 3.24%. In terms of zinc, zinc inventories on the two major exchanges move in the opposite direction, and zinc inventories in Shanghai are rising. London Metal Exchange (LME) data show that Lun zinc inventories have continued to decline from their highs in the past month, falling to 269775 tons as of Friday. However, in the long run, the current inventory decline is relatively limited, inventory levels are still near three-and-a-half-year highs. Data released last week showed that zinc stocks in shanghai rose for eight weeks in a row, rising 12.82% to 114984 tons in the week of February 26, a more than nine-month high.
In terms of copper, the copper in Shanghai is overcast today, the opening of the KDJ line continues to expand, and the red column of the MACD line continues to shorten. The 5-day EMA support position turned to the pressure line, and today's closing cross star also fell below Brin's upper-orbit support. The U.S. House of Representatives approved Biden's $1.9 trillion epidemic relief plan. The plan covers $1400 in stimulus checks, enhanced unemployment benefits and new funding for vaccines and testing. But the University of Michigan's consumer confidence index fell to a six-month low in February, and the market expected a 1.9 trillion landing. The increase has been realized in the early stage, and market sentiment has stabilized. After the Asian market, LME Lun Copper fluctuated around 9120-9150 US dollars / ton. at night, we continued to pay attention to the manufacturing PMI data of various countries and the annual rate of CPI in Germany to observe whether Lun Copper can continue to stabilize and whether the bulls of Shanghai Copper can find corresponding confidence support.
[brief Review of SMM Copper Futures] the bulls accelerated to leave the market and Shanghai Copper continued its decline by more than 2%.
Lead, today's Shanghai lead Festival for the first time under the 20-day moving average, the continuation of Friday's market closed two consecutive overcast, MACD red column significantly shortened, KDJ exposure downward. This week, Shanghai lead may usher in a brief pullback after a strong rise, but macro inflation expectations and higher costs of recycled lead also give some support to Shanghai lead. Shanghai lead has a stable trend during the day, showing signs of stopping falling. In March, lead downstream battery enterprises continue to buy and replenish the warehouse, and in the near future, they still need to pay attention to whether consumption drives the obvious social inventory of lead ingots to the warehouse. Shanghai lead may continue the trend of shock weakness in the short term, and pay attention to the 15300 yuan / ton line in the middle rail of Brin Road at night.
[brief Review of lead in SMM period] Shanghai lead stops falling during the day and stabilizes the long-term negative pillar. Shanghai lead may continue the trend of concussion and weakness in the short term.
In terms of black series, thread fell 0.69%, hot coil fell 0.94%, coking coal fell 5.53%, coke fell 3.18%, iron ore fell 0.83%, and the Ministry of Industry and Information Technology announced that China had completed the production capacity target of 150 million tons of iron and steel industry during the 13th five-year Plan two years ahead of schedule. This morning, the Information Office of the State Council held a press conference to introduce the development of industry and information technology and answer reporters' questions. The optimization and upgrading of the industrial structure has achieved remarkable results, and the competitiveness of a number of key industrial chains has been accelerated. We will deepen supply-side structural reform, make overall efforts to stabilize growth, adjust the structure, promote transformation, and promote the continuous transformation of new and old kinetic energy. Two years ahead of schedule, the steel industry achieved the target of 150 million tons of steel production capacity during the 13th five-year Plan, and pulled out of the crude steel production capacity of "zombie enterprises" totaling 64.74 million tons.
"[hot stocks] our country has achieved the target of eliminating production capacity ahead of schedule! The iron and steel plate is going higher collectively.
Crude oil fell 0.44 per cent in the previous period, and international oil prices rebounded more than 1 per cent on Monday after the US House of Representatives passed a massive stimulus bill, although China's factory activity growth slowed down in February. Analysts pointed out that the rebound in oil prices this morning was in line with the trend of most risky assets, and that central banks continued to pull forward to fend off the financial tightening hinted by the market.
In terms of precious metals, Shanghai gold fell 1.14 per cent, Shanghai silver fell 2.45 per cent, and international gold prices rose more than 1 per cent, rebounding from the previous session's low of $1717.34 since mid-June last year, thanks to a weaker dollar and the approval of a $1.9 trillion stimulus package by the US. Speculators reduced their positions in COMEX gold and silver futures in the week ended February 23, the Commodity Futures Trading Commission ((CFTC)) said on Friday.
Close during the day
"check the metal futures market.
[stock market close] A shares collectively closed up the strength of pro-cyclical sectors such as rare earths and iron and steel.
The index fluctuated upward in the afternoon, the market shrank and repaired, and stocks rose generally. The two markets rose more than 10% and more than 100 stocks, with only 500 stocks floating green. The profit-making effect rebounded sharply and the short-term mood was active. On the plate, the Baotuan plate and core stocks rebounded collectively, Ningde era, China exemption and other big rises, the main line of the market focused on chemical, paper, rare earths, iron and steel and other pro-cyclical plates, environmental protection, chips, agriculture, intelligent manufacturing and other plates rotated up, the market style is still mainly overfall rebound, leading Rendong Holdings, Jimin Pharmaceutical both advanced to four even boards. On the whole, the market begins to stop falling and stabilize, and the follow-up attention can change. On the market, the theme rose generally, with rare earths, organosilicon, papermaking and other plates leading the rise. As of the close, the Prev index rose 1.21% to close at 3551 points, the Shenzhen Composite Index rose 2.41% to close at 14857 points, and the gem index rose 2.77% to close at 2994 points. "View details
Related readings:
[SMM monthly Outlook] New Energy Industry maintains High growth Nickel Sulfate spot Nickel Price trend remains strong
[hot stocks] the Ministry of Industry and Information Technology has determined that the semiconductor sector of the chip industry will strengthen and individual stocks will rise in the future.
[hot stocks] our country has achieved the target of eliminating production capacity ahead of schedule! The iron and steel plate is going higher collectively.
[hot stocks] rare earth industry set by the Ministry of Industry and Information Technology broke out in the rare earth plate.
