SMM1 March 6: the US dollar fluctuated lower today, releasing some pressure on the metal market. Metal in the inner market was mixed, and Shanghai Aluminum continued its previous rally, closing up more than 2.4% at midday. Shanghai zinc experienced a wave of rally, reversing the previous decline, a slight pullback near midday, but still up 0.37%. Shanghai tin rose 0.22%, Shanghai nickel and lead both fell more than 1%, and Shanghai copper fell 0.73%.
The black system is red except stainless steel. Stainless steel fell by 1.74% by midday, while threads and hot rolls rose more than 1%. Iron ore continued its overnight rally, up 3.12% at midday. Shuangjiao Qi floated red, but the trend was slightly differentiated. After the opening of trading in the morning, coking coal fluctuated downwards, but managed to stabilize the growth trend in midday, rising 0.19% at noon, coke shock operation at noon, and finally closed up 2.38%.
The performance of the outer disk was slightly lower than that of the inner disk. As of 11:30, only Lunxi was slightly red, with an increase of about 0.17%. Lun Aluminum failed to hold its position today after rushing higher overnight, down 0.19%, and other varieties also went down one after another.
As for copper, the spot price of electrolytic copper in North China today offered a discount of 130 yuan / ton to the monthly contract, with an average discount of 60 yuan / ton up 20 yuan / ton compared with the previous trading day, and the transaction price was 70050-70370 yuan / ton. the average price of 70210 yuan / ton was 600 yuan / ton higher than that of the previous trading day. Today, copper prices opened high and low, and the overall trading focus was still higher than that of the previous trading day. Spot aspect, the copper price rises, the holder also raises the water level of Synchronize.
"Copper prices have fallen, but the shipments have been sold at a normal price, but the overall transaction is not good [SMM North China Copper spot]
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In terms of aluminum, the energy crisis in Europe is becoming more and more serious. according to SMM research, the production capacity of European electrolytic aluminum plants has been reduced by more than 800000 tons per year. If the problem of natural gas supply in Europe cannot be solved, energy prices will continue to rise, and the production reduction of electrolytic aluminum plants in Europe will continue to expand. The aluminum boost is even more volatile, with an increase of more than 2%. Today, the price of SMM A00 aluminum ingots quoted at 20740 yuan / ton, up 440 yuan / ton, domestic aluminum ingots continue to go to the warehouse to force the spot water to expand, morning transactions concentrated in the vicinity of 40 yuan / ton that month.
"the stock of aluminum ingots has been greatly removed to the warehouse and the spot stock in East China has been expanded.
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In terms of zinc, the mainstream turnover of zinc in Guangdong was 24260-24460 yuan / ton, and the quotation was concentrated on a discount of 55-65 yuan / ton to the Shanghai zinc 2202 contract, and the discount of the Guangdong market was 170yuan / ton higher than that of the Shanghai market, which was the same as the previous trading day. In the first trading session, the futures price fluctuated at a high level, the downstream purchase volume decreased, and the shippers began to discount the online price. Kirin, Mengzi and Huize discounted 60-65 yuan / ton for the Shanghai zinc 2202 contract.
Guangdong Zinc: weak Market demand spot discount expands [SMM afternoon Review]
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For crude oil, oil prices fell on Thursday, falling from their highest level in more than a month as OPEC+ producers insisted on plans to increase production and a surge in US fuel depots against the backdrop of falling market demand.
In precious metals, spot gold fell on Thursday and US bond yields soared after the Fed released hawkish minutes, offsetting safe-haven demand for gold at a time of rising O'Micron cases.
By the close of noon, the contracts in the metals and crude oil markets were as follows:
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"Click to view the price of SMM lead products
"Click to view the price of SMM tin products
"Click to view the price of SMM nickel products
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