SMM8 March 26: most of the non-ferrous metals in today's trading are green. By the end of the day, the main contracts are as follows: international copper fell 0.83%, Shanghai copper fell 0.98%, Shanghai aluminum fell 0.85%, Shanghai lead fell 1.36%, Shanghai zinc fell 0.11%, Shanghai nickel fell 1%, and Shanghai tin rose 0.54%. Copper, today Shanghai copper overcast, KDJ line curve opening has expanded, MACD line green column shortened again. The solid column is closed above the 10-day moving average, the bottom is supported by the daily moving average, and the solid column is still close to the Bollinger rail. Today, we will focus on the number of US jobless claims in the week of August 21, and whether market investors will act in advance on the eve of the global central bank meeting, after signals from the Federal Reserve indicate that the Fed may maintain a neutral and slightly short point of view. put pressure on the market again.
[brief Review of SMM Copper Futures] the main force of Shanghai Copper was weak during the day and eventually lost the 69000 yuan / ton pass.
In terms of lead, during the day, the main 2110 contract of Shanghai lead opened at 15520 yuan / ton. At the beginning of the session, many positions were added to enter the market, and the lead concussion uplink was once reached a daily high of 15640 yuan / ton. After the high pressure, the shock fell back. Then short positions entered, lead in the afternoon continued to increase positions near the daily moving average near the shock consolidation, lead quickly decreased, located below the intraday moving average weak operation, down to 15280 yuan / ton near the consolidation, hit an intraday low of 15230 yuan / ton, rose slightly in late trading, and finally closed at 15275 yuan / ton, down 195 yuan / ton, down 1.26%, position increased 22658 to 72412 lots, trading volume 118200 hands. During the day, the short positions gradually increased, and the lead in the period was quickly pulled back after a short uptrend, breaking the 50-day and 10-day moving average, closing the long upper shadow line, the KDJ has a downward closing trend, the MACD negative column was elongated, and the technical side was empty.
[brief Review of lead in SMM] lead rises first and then suppresses the position pressure of the upper BOLL midline is obvious.
Tin, as of today's close, the total position in 10 contracts has officially exceeded 09 contracts, the main capital transfer contract action is obvious. From the fundamental point of view, the smelter inventory is low and the quotation is on the high side, and the inventory in Hulun and Hulun cities continues to decrease, which indicates that the overall supply is tight. However, considering that the downstream solder enterprises as a whole are less willing to purchase at high prices, there are some difficulties in the cost transmission of the industry chain, and this price drop also reflects the funds' concern about this situation to a certain extent. Taken together, as the 09 contract enters the end of the cycle, the active departure price of long-short funds falls, and the degree to which this contract is affected by speculative factors is decreasing. If there is no obvious change in the fundamentals in the short term, the trend will maintain a high concussion probability.
[brief Review of SMM Tin] the former high point of Shanghai and tin is blocked and the funds are busy leaving the transfer contract.
In terms of black system, thread fell 2.52%, hot coil fell 3.4%, coking coal fell 0.33%, coke fell 0.88%, iron ore rose 0.74%, stainless steel fell 0.9%. On the face of the news, the environmental protection inspection team stationed in Shandong, steel mills and coke enterprises are expected to further tighten production restrictions, forming support for steel prices. On the supply side, according to CISA data, in mid-August, steel companies focused on crude steel production of 21.3787 million tons and daily output of 2.1379 million tons, down 1.07% from the same period last year. At the same time, steel production was 20.6125 million tons, with a daily output of 2.0612 million tons, down 0.32 percent from the same period last year. Crude steel reduction effect is obvious, there is still support for steel prices. On the demand side, automobile production has declined for three consecutive months due to chip shortages, rising raw material prices, weak demand and other factors.
[SMM blast furnace operating rate] the weak pattern of supply and demand has not changed, and the steel market has repeatedly fluctuated.
In terms of iron ore, Liantie fluctuated in a narrow range today, the main contract closed down at the end of the day, with a limited increase throughout the day; the port spot market was more stable in early trading than yesterday. Some businesses in the market have raised their quotations one after another, and steel mills continue the procurement rhythm of rigid demand. The spot price of the port tracked by SMM shows that at present, the price of high-grade ore (card powder) and medium-grade mine (PB powder) expanded by 350 yuan / ton to 400 yuan / ton compared with the same period last year; it is understood that the performance-to-price ratio of medium-grade mainstream powder represented by PB powder began to improve recently, and the mainstream medium-grade powder is still favored by steel mills. And, in order to be optimistic about the price of PB powder in the future, some businesses in Shandong have recently increased their willingness to buy PB powder in port spot speculation. Today, the turnover of PB powder in Tangshan area is 1040 yuan / ton, which is 25 yuan / ton higher than that of yesterday. In addition, a steel mill said that although the profits of steel mills remain high, considering the lower-than-expected demand for steel downstream, the current fluctuation frequency of finished material prices is large, and the possibility of purchasing raw materials is low, and multi-frequency and small quantities are still the main theme of procurement. However, considering that after six consecutive increases in coke prices, coke prices are still expected to remain high and difficult in the later stage, so that some steel mills are considering increasing the proportion of medium and high grade ores to reduce the coke ratio, and imported ore prices still have some support in the short term.
"Daily summary of iron ore market on August 26th
Crude oil rose 0.86% in the previous period, and international oil prices fell on Thursday for the first time in four trading days, as concerns about a recovery in demand resurrected as more restrictions were put in place. Us crude oil inventories fell for the third week in a row last week, while overall fuel demand rose to its highest level since March 2020, according to the (EIA) of the US Energy Information Administration.
In terms of precious metals, Shanghai gold fell 0.8%, Shanghai silver fell 1.05%, and international gold prices were flat on Thursday, as investors became cautious ahead of Federal Reserve Chairman Colin Powell's speech this week. His remarks could provide clues for the Fed to scale back its stimulus measures. Powell will speak at the Fed's annual economic seminar in Jackson Hole, Wyoming, on Friday, when markets will seek guidance on the Fed's plan to scale back its bond purchases.
"check the metal futures market.
[stock market close] A-share size index all weakened steel, coal, non-ferrous and other periodic sectors strengthened.
Today, the size index fell 1.09%, and the gem index closed down 2.51%. Individual stocks in the two cities were more red than green, with a turnover of more than 1.3 trillion, breaking through trillion yuan for 27 consecutive trading days. major consumer sectors such as wine, food and beverage, medicine and medical care became the main force, while steel, coal, non-ferrous metals, oil and gas, chemical industry, shipping and other periodic plates collectively strengthened. The photovoltaic sector continued to rise, with silicone, HIT batteries, polysilicon, BIPV and other stocks rising by the daily limit. Leading Jinchen shares have risen more than 500% since May; the concept of industrial mother machine has made a comeback, East China CNC has made a comeback, and Guoshengzhi has received 20cm trading; in addition, military stocks are active, lithium batteries are differentiated, sodium ion batteries are strong, and the seed industry and automobiles are weak. On the market, oil mining, coal and steel were among the top gainers, while beverage manufacturing, medical devices and automobiles fell in the forefront. As of the close, the Prev index was up 1.09% to close at 3501 points; the Shenzhen Composite Index fell 1.92% to close at 14415 points; and the gem index was down 2.51% to close at 3264 points.
