Across the board, the metal closed down, stainless steel fell by the limit, Lunxi fell by more than 17% [overnight market]

Crude oil: us crude oil futures fell more than 12 per cent on Wednesday, while Brent crude fell more than 13 per cent after the United Arab Emirates expressed support for increasing supply to troubled markets.

14:30 New York time (03:30 on March 10, Beijing time) April crude oil futures, the most actively traded in), NYMEX, settled down $15.00, or 12.1%, at $108.70 a barrel, the worst day since November. The May Brent contract, the most actively traded in ICE, fell $16.84, or 13.2 per cent, to settle at $111.14 a barrel, the biggest one-day decline since April 21, 2020, and at one point plunged more than 17 per cent in intraday trading.

On the dollar side: the euro rose more than 1.5 per cent against the dollar on Wednesday, financial markets' risk appetite rebounded, energy and commodity prices fell from recent highs, and the previous rally was fuelled by the conflict between Russia and Ukraine and sanctions imposed by the west.

Today, we will focus on data such as the annual PPI rate in February in Japan, the scale of social financing in China in February, and the total fuel inventory in Singapore for the week ended March 9.

Metal futures: yesterday, all basic metals fell generally green, only Shanghai nickel rose by the limit in the inner market, and Shanghai tin rose slightly by 0.35%. By the close of the day, Shanghai Nickel rose for the third day in a row, rising to an all-time high of 267700 yuan / ton, with an increase of 55.53% in eight trading days; Shanghai Tin slightly rose 0.35%; Shanghai Aluminum fell more than 5%, Shanghai Zinc fell more than 3%, Shanghai lead fell nearly 2%, and Shanghai Copper fell more than 1%. Black collective closing down, of which iron ore fell the largest, 3.85%; stainless steel main force, hot rolling are down more than 2%, thread decline of nearly 1.5%. In coal series, only thermal coal was green, down 6.44%; coking coal closed up 1.32%, and coke rose slightly by 0.39%.

During the night trading session, with the exception of Shanghai Nickel suspended trading, other base metals closed down. Among them, shanghai tin fell 7.89%, shanghai zinc fell 3.85%, shanghai aluminum fell 2.92%, shanghai copper and shanghai lead both fell by more than 1.5%.

The black series were all floating green, the main stainless steel fell by the limit, and the iron ore fell by 5.51%.

The coal system fell, thermal coal fell by more than 6%, coke fell by more than 2%, and coking coal fell by 1.63%.

LME metal except Nickel suspended trading, closing down across the board. Among them, Lunxi fell by more than 17%, Lun Zinc fell by more than 7%, Lun Aluminum and Lun lead fell by more than 5%, and Lun Copper fell by more than 2%.

Precious metals, COMEX gold futures fell nearly 3% Wednesday as lower oil prices helped risky assets rebound after the conflict in Ukraine triggered a sharp fall in risky assets. New York time 13:30 on March 9 (02:30 Beijing time on March 10, Beijing time) the most actively traded April gold contract fell $55.10, or 2.7%, to settle at $1988.20 an ounce.

As of 07:04 on March 10, at the close of night trading yesterday, financial market conditions were as follows: