May 17th SMM basic metal spot trading day review

SMM May 17th:

Copper: Today, the copper is opened at 5,606 US dollars / ton. In the Asian plate, the first copper oscillated around the daily average line, and then relied on the daily average to move up slowly. In the afternoon, the black line led the black line to rise to the daily high of 5,640 US dollars / ton. After finishing the arrangement, the long position was closed. During the decline of the copper, it was supported by the daily average, and there was still the intention to push up the price of copper. However, with the announcement of the LME copper stocks, the increase of 17,100 tons, the end of the previous seven consecutive declines, Lun copper heard the diving, smoothing the full increase in the day, as of 17 :00, Lun copper reported 5595.5 US dollars / ton, crude oil reported 48.44 US dollars / barrel, the US dollar reported 98.082. Today, the copper rushed down, and the copper was still fluctuating within the range. The 5th and 20th lines gradually narrowed the gap. The surge in inventory will hit the price of copper, and the effectiveness of the support at the 5-day moving average will be paid attention to at night.

In the morning, the People's Bank of China continued to open a net market of 10 billion yuan, and the Shanghai main copper 1706 contract opened at 45,350 yuan / ton. At the beginning of the session, Shanghai copper fell to a low of 45,270 yuan / ton, then the short-selling copper price returned to the daily average consolidation, the afternoon in the black system led to short positions to lighten up, Shanghai copper strong puncture 20-day moving average, recorded a high of 45,650 yuan / ton, after the high consolidation, some of the long profit margins out, copper prices retreated most of the previous gains, closed at 45,390 yuan / ton, up 100 yuan / ton, the volume increased by 30,556 hands to 226,698 hands, warehouses reduced 8550 hands to 211,564 hands . Today, Shanghai copper is still oscillating between the 5 and 20-day moving averages. The late retreat shows that the top 20-day moving average pressure is relatively high. After the close, the outer disk fell sharply. It is expected that Shanghai copper will test the 5-day line at night.

Today, Shanghai Electrolytic Copper spot on the current month contract posted a discount of 40 yuan / ton - Pingshui, Pingshui copper transaction price 45280 yuan / ton -45330 yuan / ton, premium copper transaction price 45300 yuan / ton -45350 yuan / ton. The Shanghai period copper is narrowly arranged. The mainstream fluctuation period of the day is only around RMB 20/ton. The holders maintain their cash stability, the supply is still abundant, the basis of the month is limited, the speculators lack speculative space, the downstream waits and sees, and the transaction has not improved. Supply and demand are still sawing clearly. In the afternoon, the disk surface pulled up sharply, and the holders took the initiative to lower the premium for the transaction. The Pingshui copper newspaper posted a discount of 60 yuan/ton~ a discount of 40 yuan/ton, and a good copper newspaper premium 40 yuan/ton~ a discount of 20 yuan. / ton, but the current position of downstream recognition is not high, the transaction is suppressed, the afternoon transaction price of 45,300 yuan / ton ~ 45,520 yuan / ton.

Aluminum: Morning Lun aluminum opened at 1926 US dollars / ton, the Asian plate before the afternoon Lun aluminum around the daily average line fluctuations, the 40-day line resistance appeared, the focus of Lun aluminum turnover has moved down, after a small increase of 1928.5 US dollars in the afternoon, quickly fell back Below the daily average, entering the European trading session, Lun Aluminum's volatility has intensified, and many attempts to break through the daily average have failed. The low reached 1917.5 US dollars / ton, as of 17:04 Lun aluminum reported 1922.5 US dollars / ton, the evening attention to the US EIA crude oil inventory changes, Lun aluminum is expected to continue testing the 40-day line resistance and seek an effective breakthrough.

The main force of Shanghai Aluminum opened at 14055 yuan/ton in the morning. After the opening, the bears took the initiative to exert pressure. The Shanghai aluminum shocked down to the Wansi Pass, hitting 13,980 yuan/ton, and the low level was more than empty, pushing the aluminum price back to the opening position. However, it was immediately attacked by a small number of short positions. The aluminum price returned to a narrow range of 14025 yuan / ton. The short-term early stage of the market ended up and waited for the spot. The Shanghai aluminum repair fell to close at 14,055 yuan / ton, and the trading volume decreased to 172,428 hands. Positions increased by 1788 lots to 264,724 lots. At present, the policy support is stronger at the 14,000 yuan/ton integer mark, but there is no effective kinetic energy support for further upward movement. Shanghai Aluminum maintains range volatility in the short term, above 20/40/60 days. The line has formed a strong resistance and continues to pay attention to the long and short battle for the Wansi Pass.

The aluminum period fluctuated widely in the afternoon of the month. The transaction volume in Shanghai was 13820-13850 yuan/ton, 120-100 yuan/ton for the month, and 13820-13840 yuan/ton for Wuxi, and 13850-13870 yuan/ton for Hangzhou. The position of the holders was positive, and the spot discount continued to expand to 100 yuan. The traders still have to wait for the target of the discount. The traders still choose to wait. The downstream enterprises only purchase according to the need, and the overall transaction is still high. In the late afternoon, aluminum rebounded in the month, and the holders were actively shipping on rallies, with a small turnover of 13860-13880 yuan/ton.

Lead: In the day, Lun lead opened at 2090.5 US dollars / ton. After the opening, the short position continued to lighten up. After the low lead of the renminbi rebounded to 2101.5 US dollars / ton, the shorts re-entered the market, suppressing the price of lead, and lowering the price of 2091 US dollars / ton. Force, Lun lead quickly rushed to a high of 2,108 US dollars / ton, then the range fluctuated at 2,097-2,105 US dollars / ton, Japan's lead more than the top of the daily average line, as of 18:00, Lun lead rose 2100 USD/ton, climbing 2,120 US dollars / ton, up 20 US dollars / ton, an increase of 1%. Lun lead rebounded at a low level and returned to the $2,100/ton mark, but the top moving averages were arranged in series, and the lead was applied, and the short-term or continued test was $2,100/ton.

Today, Shanghai lead main 1706 contract opened at 15,680 yuan / ton, after the opening short-selling short-term warehousing into the market, the lead price was down 15620 yuan / ton, then the short profit profit, the bulls entered the market one after another, the lead price fluctuated upward, touched high After 15,785 yuan / ton, the bears renewed their strength. With some long positions, the lead price fell back to the moving average, and finally closed at 15,710 yuan / ton, down 5 US dollars / ton, down 0.03%; trading volume decreased by 21,068 hands to 48,900 hands, positions The amount is reduced by 2,394 hands to 39,916 hands. Shanghai lead has finally recorded a positive line after 3 consecutive yin, and the support of 15500 yuan/ton at the bottom has been consolidated. However, there are a number of average moving pressures above the pressure. The short-term rebound is limited, and it is expected to maintain a low consolidation trend.

Shanghai market Hengbang lead reported 15,700 yuan / ton, part of the warehouse receipts on the 1706 contract premium 40 yuan / ton offer, no transactions; silver reported 15,670 yuan / ton, 1706 contract premium 30 yuan / ton offer. The period is stable and stable, but the SMM1# lead price is still at a low level throughout the year. The price of the holders is quite high. There is a disagreement with the psychological price of the downstream goods. In addition, due to the off-season factors, the willingness to replenish the stocks is low, and the market turnover is light.

Guangdong market lead 15800 yuan / ton, 1706 contract premium 100 yuan / ton offer; Yanye lead 15750 yuan / ton, SMM1 # lead average price flat water offer, a small amount of transactions; an old small factory lead 15,800 yuan / ton, right SMM average price of 50 yuan / ton, no transaction. Holders are reluctant to sell at a low price. At the same time, although there are some low-purchase purchase intentions in the downstream, the production line has maintained a reduced production status, the quantity of goods received is limited, and the market is light.

Henan Province, the north of the lead reported 15750 yuan / ton, the average price of SMM flat water, loose single-price reluctance to sell the mood is not changed; Wanyang lead reported 15650-15700 yuan / ton, the average price of SMM 50-100 yuan / ton . The refinery's willingness to ship is not strong, and the low-priced reluctance to sell is obvious. At the same time, the downstream consumption is weak, and the stock replenishment is limited. The overall market is still both supply and demand.

Anhui Tongguan lead 15700 yuan / ton, quoted 1706 contract flat water; Hunan area Yinxing lead offer 15650 yuan / ton, SMM average price discount 100 yuan / ton, local small factory heard about SMM average price discount 150 yuan / Ton. The refineries in Hunan and Yunnan are affected by environmental protection, the market supply is reduced, and the price of the holders is obvious. Some enterprises mainly pay for long orders, and the orders are not for sale.

Zinc: Today's zinc is opened at 2,550 US dollars / ton. After the opening of the zinc, the zinc plate stayed on the daily average line for a short stay, based on 2,550 US dollars / ton, straight up to 2,570 US dollars / ton blocked, falling back to the narrow line of the daily average. In the afternoon, Lun Zinc rushed again. After the high of 2580 USD/ton, it was subject to the 5-day moving average pressure. The shock fell back and was pressed below the daily average. The narrow range was in the range of 2560-2565 USD, as of 17:30. Lun Zinc reported 2,565 US dollars / ton, up 9 US dollars / ton, or 0.35%. Although the zinc in the sun is closed, the upper average line is pressed, and the 5-day moving average is depressed. It is expected that the zinc will run around the $2,550/ton line in the evening.

Today, Shanghai's main zinc 1707 contract opened at 21,405 yuan / ton. At the beginning of the session, Shanghai zinc was slightly lower and then met the average line and pulled up. With some short positions closed, the zinc price touched the short line up to 21,530 yuan / ton. . In the afternoon, Shanghai Zinc re-strengthed under the black system, and rose slightly to around 21,630 yuan / ton, but the long-term short-term profit-taking out of the market, dragging the zinc price down to 21,580 yuan / ton near the finishing operation, the late Shanghai zinc re-exploration Low, reversing all the gains in the afternoon. The final harvest was 21,520 yuan / ton. It rose by 145 yuan / ton, an increase of 0.68%. In terms of volume, the volume of transactions decreased by 839.78 million to 598,000 contracts, and the volume of positions decreased by 22,252 hands to 32.2 contracts. In the day, the colored plates rebounded collectively. Shanghai Zinc was based on the daily average line. The operation was quite strong and recorded a positive line. However, the multi-way moving average above the zinc price is still under pressure, and the upper impulse energy is insufficient. It is expected that Shanghai zinc will oscillate around 21,500 yuan/ton in the evening.

Today, Shanghai 0# zinc mainstream traded at 22200-22370 yuan / ton, Shanghai zinc 1706 contract premium 330 ~ 450 yuan / ton, the premium increased 70-80 yuan / ton compared with yesterday. 1# Zinc mainstream turnover was around 22150-22220 yuan / ton. Some of the Shanghai zinc refineries are reluctant to sell and control the goods. Although there are imported zinc supplements, the domestic supply is scarce, the stocks of the holders are not much, and the market circulation is tight. There are big traders waiting for the goods to receive the goods, the spot premium continues to rise, but the downstream The willingness to get the goods is not positive, it is not as good as yesterday, the transaction is not good.

Today, Guangdong #0 zinc mainstream traded at 22210-22250 yuan / ton, to 1706 contract premium 290-320 yuan / ton, the premium is basically the same as yesterday, the city of Shanghai to Shanghai Pingshui (except Shuangyan brand). Due to the rise in zinc prices today, refinery shipments are normal, and downstream plunging is dominant, and the willingness to get goods is not strong. The quotation of the holders was firm, the turnover was less, and the overall market turnover was less than yesterday. 0# Danxia, ​​Tiefeng, Kirin mainstream transactions in 22210-22250 yuan / ton.

Today, Tianjin market 0# zinc ingot mainstream turnover in 22150-23310 yuan / ton, 0 # ordinary brand mainstream turnover in 22150-22200 yuan / ton, 1706 contract premium 220-280 yuan / ton, premium than Shanghai market discount 80 yuan / ton nearby. The price of zinc also rose, the refinery shipped normally, the downstream fell, and the willingness to accept the goods was not strong. Some unqualified small and medium-sized enterprises are still shut down in full, with no signs of starting work, and the overall market turnover is not as good as yesterday. 0# Zijin, Hung Hom, Chi Hong sold at 22150-22200 yuan / ton, 1 #紫金, 红烨, Chi Hong sold at 22100-22150 yuan / ton.

Tin: Today, Lunxi opened at $19,995/ton, and the Asian session rose slightly. The top was to break the 40-day moving average resistance, hitting a high of $1,975/ton. Under the double pressure of weak data and President Trump's “leak door”, the US dollar index fell back to the low level since November and continued to pay attention to the development of Trump's leaks. The dollar fell sharply to support the trend of base metals, and the resistance above Lenxi was $20,000/ton.

Yesterday's Shanghai trading tin 1709 contract rose slightly, but the overall fluctuation was not large, closing at 141,490 yuan / ton. Today's opening 141,590 yuan / ton, boosted by long positions, the trend continued to rise, breaking the 5-day moving average resistance, hitting the 40-day moving average, the highest hit 143,360 yuan / ton, the final closing 143,190 yuan / ton, compared to the previous day The settlement price rose by 2,280 yuan / ton, an increase of 1.62%. Today, domestic commodities are booming, and the funds are calming the market. Non-ferrous metals have rebounded overall. In particular, Shanghai has the largest increase in tin. Currently, the 20-day moving average is 144,000 yuan/ton. It is expected that the high-level shock will break through the direction tonight and be alert to high risks.

In the Shanghai-Shenzhen market, today's Shanghai-Silver market price has gradually increased with the Shanghai-Shanghai tin plate. The mainstream market is 138,000-139500 yuan/ton, and then the disk is up to 143,000 yuan/ton. The mainstream market price in the afternoon is 139300-141500 yuan/ Tons, some of the holders are actively shipping, the market is actively buying on dips, and the high-priced goods are relatively weak. Due to the violent upswing in Shanghai and the spot market, the spot market price is weak, and the spot price increase is small, resulting in the maximum discount of 1500-4000 yuan/ton in the current period. The current increase is not equal to the partial hedging. The dealer stopped shipping in the afternoon to reduce losses.

Nickel: Today, the nickel plate was opened at 9,160 US dollars / ton. It briefly fell to 9,150 US dollars / ton at the beginning of the session. Afterwards, it was driven by the rise of iron ore in the domestic black line. In the morning, the nickel volatility was higher and it was running above the daily average. In the afternoon, the increase in iron ore increased, and the nickel rose for a short time, reaching a high of $9,260/ton, followed by a “V” trend, ending at 16:45, and the nickel was reported at $9,230/ton. On the technical side, the nickel is far from the lower track of the Bollinger track, and it is going to test the 20-day moving average. Due to the weather, the mining company DMCI lowered the forecast of nickel ore shipments in 2017; the evening focused on the final value of the April CPI in the euro zone, market expectations Better than the previous value. The EIA inventory of crude oil is announced tonight, and it is expected to continue to decline. Crude oil is expected to rebound, which will help the base metals to rise. It is expected that the nickel will maintain an upward trend in the evening.

Today, Shanghai's main nickel 1709 opened at 76,500 yuan/ton in early trading. At the beginning of the trading session, the long position profited and closed. Shanghai nickel went down to 76,400 yuan/ton and stabilized. In the afternoon, the bulls actively increased their positions, and Shanghai nickel rose, and the disk turned green. High to 77,270 yuan / ton, closed at 76,870 yuan / ton. Throughout the day, Shanghai Nickel closed at the barefoot line, up by 110 yuan/ton from the previous day's settlement price, an increase of 0.14%. The trading volume decreased by 44,000 hands to 423,000 hands, and the number of positions increased by 342 hands to 562,000 hands. On the technical side, the MACD and KDJ indicators are improving, and Shanghai nickel is expected to fluctuate at night.

Shanghai stock, SMM1# electrolytic nickel 74900-77450 yuan / ton. Nickel is narrowly consolidating in the period. In the morning, Jinchuan Nickel is about 1800-1900 yuan/ton higher than Wuxi's main contract of 1706. The price of Jinchuan Company in Shanghai is 77,300 yuan/ton. It is close to the market price. It is difficult to trade in the early high water, and the trader lowers the premium. A small amount of goods are taken downstream. Russian nickel is less than 550 yuan/ton for Wuxi 1706 contract. The traders are actively shipping, and the downstream goods are generally motivated and the transaction is acceptable. The mainstream trading interval in the morning was 74,900~77,400 yuan/ton. In the afternoon, nickel rose slightly, Jinchuan's premiums narrowed, and there was no significant change in the market's Russian nickel premiums. The turnover was weaker than in the morning, and the mainstream transaction range was 75,200-77,400 yuan/ton.

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