SMM3, March 21, the dollar rose slightly this morning as two of the Fed's most hawkish policy makers said the Fed needs to take more aggressive measures to fight inflation. Crude oil continued trading this morning as the International Energy Agency said the oil market was in a "state of emergency" and the geo-situation in Russia and Ukraine was uncertain.
Metal inner trading was mixed this morning, Shanghai tin continued to rise, up 3.13%, Shanghai Aluminum rose nearly 3% in early trading, and Shanghai copper rose slightly by 0.76%. Shanghai nickel continued to decline, falling 0.95 per cent. Shanghai lead and Shanghai zinc continued to fluctuate in early trading today, falling 0.1 per cent and 0.04 per cent respectively by 09:30.
All the black lines were red, with stainless steel rising 2.09% and iron ore up 1.09% in morning trading. The increase in hot rolls expanded to 1.33% from Friday night, while the thread rose slightly by 0.71%. The increase in double coke has fallen somewhat, as of 09:30, coking coal rose 1.25%, coke concussion, slightly increased 0.23%.
The performance of the outer disk was relatively bright, Lunni suspended trading, Lunchu fell from rising to falling, and fell slightly by 0.04%. Lun Aluminum continued to rise in early trading on news of Australia's ban on the export of alumina and aluminum ore to Russia, leading the rally by 4.16%. Lunxi, zinc and lead rose 1.09%, 0.94% and 0.55% respectively.
As of 9:30:
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Minutes of SMM Copper Morning meeting: us 2S10S indicators are close to upside down or trigger economic recession and high inflation is difficult to solve and push copper prices closer to the 74000 mark.
The dust of the Fed's interest rate hike settled last week, and the first rate hike 25BP was in line with market expectations, and market risk sentiment rebounded. Meanwhile, Fed officials were hawkish on Friday, saying they would take more aggressive measures to fight inflation, and the dollar index rebounded slightly higher in intraday trading. Lun Copper is expected to operate today. "Click to view details
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Summary of SMM Aluminium Morning meeting: transportation in many places is blocked under the influence of the epidemic. Pay attention to the data of aluminum community today.
On the supply side, the current total operating capacity of electrolytic aluminum in China has increased slightly, but the total domestic output has not been equal to that of the same period last year, and the transport efficiency of aluminum ingots has decreased in some areas under the impact of the epidemic. On the demand side, the operating rate of aluminum profiles and aluminum plate, strip and foil continues to warm up, but there is also the problem of epidemic interference with transportation downstream. On the whole, the domestic aluminum social inventory will follow up or fall short of expectations due to the decline in transportation efficiency, the inventory will continue to be reduced mainly, the low aluminum inventory at home and abroad will give aluminum price support, and the short-term aluminum price is expected to be maintained. "Click to view details
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Summary of SMM lead Morning meeting: shortage of raw materials, superimposed epidemic prevention policy, tightening of short-term lead prices will focus on recovery.
Today's lead price forecast: in terms of fundamentals, due to raw material supply, equipment maintenance and environmental protection, the supply of recycled lead has always been lower than that of the previous year, the prices of recycled lead and primary lead have been upside down in the short term, and the cost support of lead prices shows a fluctuating upward trend. The spot is expected to be flat today. "Click to view details
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Summary of SMM Zinc Morning meeting: short-term fluctuations in zinc prices are expected to focus on the impact of the epidemic on consumption.
On the consumer side, the impact of the epidemic is gradually spreading to terminal consumption. If the epidemic is not controlled for a long time, downstream consumption is likely to weaken. Although the social inventory is 9500 tons removed during the week, it is mainly due to the difficulty of warehousing affected by the epidemic, and the actual consumption is still dominated by rigid demand and long orders. Short-term attention. "Click to view details
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Minutes of SMM Tin Morning meeting: tin prices have bottomed out and rebounded. Social inventory has dropped significantly.
Last week, the trend of tin prices showed a "V" reversal in the week. after the inertia of tin prices fell to 320000 yuan / ton at the beginning of the week, there was an obvious recurrence, and it strengthened again on Friday with the concentration of funds from both sides. From the perspective of capital fluctuations, the trend of increasing positions upside bulls is relatively strong. However, the spot market price is weak with the rise, and the rising water has dropped obviously, and some merchants' discounted shipments also show that although the downstream enterprises are optimistic, the acceptance of the high price is still poor. According to the situation, the trend is expected in the short term. "Click to view details
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Summary of SMM Nickel Morning meeting: there is still a loss in import price difference. Raw materials are too tight for Shanghai Nickel or maintain concussion.
Since last week, the epidemic has once again had an impact on transportation and transactions in the spot market, superimposed by the high level of the disk and the high uncertainty caused by the opening of Lunni, resulting in few spot transactions and weak supply and demand in the spot market as a whole. It is understood that due to the current high raw material prices of nickel sulfate, the precursor factory is expected to reduce production; in addition, the supply of nickel sulfate is relatively tight, and the shortage of raw material supply has been transmitted to nickel sulfate. Whether the current high nickel matte can be greatly released is the key point to affect the new energy supply and ease the shortage of nickel bean supply. "Click to view details
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Summary of SMM Steel Morning meeting: demand recovery is blocked. Steel prices may continue to fluctuate in range this week.
Last week, the start-up of steel mills in Hebei improved significantly, and a large number of blast furnaces resumed production. according to SMM research, the operating rate of blast furnace was 81.9%, an increase of 4.1% on a weekly basis, an increase of 4.2% on a month-on-month basis, and an overall increase in demand for coke. Therefore, when coking enterprises raised coke prices by 200 yuan per ton in the second round last Monday, The next day, a leading steel mill in Hebei accepted the fourth round of coke increase. "Click to view details
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