SMM8 March 5: the dollar as of 15:00 today, basically stable in intraday trading, macro news, after Federal Reserve Vice Chairman Clarida said on Wednesday that the conditions for raising interest rates may be met by the end of 2022, paving the way for action in early 2023. The dollar rose after Clarida spoke. Wednesday's data were mixed, adding to the uncertainty. The ADP private employment report was unexpectedly weak, while US service sector data recorded its strongest performance ever. Today, metals in the Shanghai stock market were mixed. By the end of the day, the main contracts were as follows: international copper fell 1.12%, Shanghai copper fell 1.09%, Shanghai aluminum rose 0.08%, Shanghai lead fell 1.07%, Shanghai zinc fell 0.16%, Shanghai nickel fell 0.45%, and Shanghai tin rose 0.12%.
In terms of copper, today, Shanghai copper closed, the opening of the KDJ line curve expanded downward, and the MACD line red column was greatly shortened. The solid column is closed below today's moving average, and the Bollinger middle rail shows pressure. Tonight, we will focus on the number of initial jobless claims in the United States in the week to July 31, with an expected value of 38.4. Under the interference of the epidemic, whether the data on the number of initial claims for unemployment benefits can meet expectations will give the copper market a short-term direction.
[brief review of SMM copper futures] Night copper futures fell below 70000 and the market weakness intensified at the end of the day.
Tin, today, funds continue to reduce positions, the market heat continues to decline. From the perspective of technical analysis, today's price is still in the vicinity of the 228000 position at the lower edge of the high shock range, and the price tests the support strength of the lower edge only from the relative position, but if the capital heat dimension is taken into account, the recent price is of little significance due to the low degree of capital participation. In the later stage, the market still focuses on whether the supply and demand relationship on the fundamentals can break the short-term balance, and whether there will be large funds entering the game at the capital level.
[SMM tin brief review] Shanghai tin's performance lacks bright spots and the market waits for news to stimulate.
In terms of black, it rose 0.26%, hot coil fell 0.07%, coking coal rose 2.02%, coke 1.8%, iron ore 4.72%, stainless steel 0.82%. Iron ore fell sharply today. SMM believes that it is mainly due to: 1. Crude steel reduction production continues to advance, most steel enterprises said that they will gradually implement the reduction task, negative sentiment enveloped the market 2, taking into account the weak demand downstream of the steel terminal, Some steel companies have planned to reduce the inventory of raw materials, increasing the pressure on the current market during the iron ore period. From today's spot market, although the price decline in early trading is small, but as the market continues to decline, some merchants have more room for bargaining, the market wait-and-see mood is strong, and the overall transaction is not good. In the later stage, under the premise of no change in the trend of reducing production, there may still be room for the iron ore market to go down.
[SMM Express] the iron ore mine has suffered a major setback and lost the 900-yuan gate. It may still have room for downside under the negative cover.
Crude oil fell 2.45% in the previous period, and international oil prices fell on Thursday, erasing earlier gains as more countries imposed restrictions in the face of a surge in novel coronavirus cases and the dollar strengthened, but tensions in the Middle East kept oil prices from falling further.
In terms of precious metals, Shanghai gold fell 0.13% and Shanghai silver fell 0.72%. International spot gold prices fell on Thursday after the appreciation of the dollar and a speech by a senior Fed official hinted that policy could be tightened ahead of time. Federal Reserve Vice Chairman Clarida (Richard Clarida) said on Wednesday that the US economy is expected to meet the employment and inflation threshold set by the Fed for rate hikes by the end of next year, in line with expectations of a rate hike in 2023.
"check the metal futures market.
[stock market close] A-share size index fell and military stocks rose sharply throughout the day.
Today, the A-share size index adjusted slightly, with the Prev down 0.31% and the gem index down 0.86%. About 3000 stocks in the two markets fell, with the trading volume exceeding 1.2 trillion yuan, breaking trillion yuan for the 12th consecutive trading day. Yesterday's sharp rise in lithium electricity and other high-level popular track stocks showed divergent performance, with positive electrodes and electrolytes weakening, negative electrodes strengthening, lithium mines returning some funds in the afternoon, and Jiangte Motor touchboard, up about 220% since July. Military stocks soared throughout the day, aircraft carriers, large aircraft and other concepts showed a strong performance, Chinese ships, space rainbow and other more than a dozen stocks rose by the limit or more than 10%. In addition, domestic software, photoresist, liquor stocks are in the doldrums, real estate stocks are active, novel coronavirus testing, vaccines and other antiviral stocks overall pullback, afternoon agricultural stocks pulled up, Longping Hi-Tech rose by the daily limit. On the market, the national defense industry, planting and forestry, and real estate development were among the top gainers, while computer applications, new chemical materials, and securities were among the top declines. As of the close, the Prev index fell 0.31% to close at 3466 points; the Shenzhen Composite Index fell 0.79% to close at 14872 points; and the gem index fell 0.86% to close at 3532 points.
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