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SMM October 27th:
Copper : The morning copper opened at 6988.5 US dollars, the central bank announced the reduction of QE scale, but the scale of the resolution is a dove. The Trump tax reform plan has been further developed, and the dollar has risen sharply, which is close to the 95 mark. The copper was under pressure. After the opening, the two waves went lower, breaking through the $6,900/ton mark and low to $6,880/ton. The Asian plate recovered some of the lost ground in the late session and then oscillated around $6,900/ton. As of 16:55, Luneng reported $6,849/ton, down $105/ton, and the US dollar index was at 94.835. It is expected that Luneng Copper will operate at a low level based on the 20-day moving average. In the evening, I will pay attention to the initial value of the US real GDP in the third quarter and the final value of the University of Michigan consumer confidence index in October.
Today, Shanghai Copper's main 1712 contract opened at 54,800 yuan / ton, and gradually fell to 52,490 yuan / ton after the opening. In the morning micro-disc period, the short position began to liquidate, and the Shanghai copper slightly recovered back to RMB 54,430/ton. However, it failed to stabilize, and once again opened a wave of down mode, fell to an all-day low of 53,840 yuan / ton, and then oscillated around 54,000 yuan / ton, and finally closed at 54,000 yuan / ton, down 790 yuan / ton, the position decreased From 3088 hands to 184,000 hands, the volume increased by 18,388 hands to 272,000 hands. At present, Shanghai copper fell below the 10-day moving average, and the 5-day moving average crossed the 10-day moving average. Coupled with the strengthening of the US dollar against the bulk metal, Shanghai copper is expected to remain low in the evening.
Today's Shanghai electrolytic copper spot on the current month contract posted 50 yuan / ton - liters of water 60 yuan / ton, flat water copper transaction price of 54350 yuan / ton -54750 yuan / ton, premium copper transaction price of 54400 yuan / ton -54770 yuan / ton. Shanghai copper continued to pull back, Shanghai-London ratio continued to be high, at the top of the import profit balance point, and near the end of the month, the holders desperately dumped goods, today's market once again interpreted yesterday's premium water rushing state, from the morning market's good copper premium 60~ 70 yuan / ton line quickly fell to 20 yuan / ton of water, Pingshui copper turned into a full-scale water, wet copper paste water 100 yuan started, the transaction was slightly improved, although the inquiry is always active, but the transaction is in the auction Difficult to see warmth, the downstream continues to be a small amount just need, cautiously entering the market. A large amount of imported copper will be put into storage. This week, the warehouse will increase the inventory of about 20,000 tons. The strong willingness to redeem will bring the spot back to a full premium. In the afternoon, the futures continued to fall, the transaction still did not improve, the good copper premium fell to 10 yuan / ton to see the sporadic transaction, Pingshui copper reported 50 yuan / ton -30 yuan / ton, good copper newspaper premium 10 yuan / ton - flat water, the transaction price has dropped to 54,000 yuan / ton -54,300 yuan / ton.
Aluminum : Lun aluminum opened at 2,187 US dollars / ton in the morning, slightly rising before the Asian session, touched 2,194 US dollars / ton, the Asian period with Shanghai aluminum shock down, in the afternoon by Shanghai aluminum rapid discharge and the US dollar high pressure, rapid discharge. After entering the European period, it continued to fluctuate downwards, with the low level hitting US$2,146/ton and ending at 17:29, the aluminum was reported at US$2,151/ton. Attention to the Shanghai aluminum trend in the evening, Lun aluminum 5/10 daily average support is still in place, it is expected that the low aluminum will be tested and supported repeatedly.
Last night, Shanghai Aluminum completed the main position and moved, and the main contract was replaced by the 1801 contract. In the morning, the main contract of Shanghai Aluminum opened at 16,450 yuan / ton. After the opening, the short-term overshoot, touched the high of 16,485 yuan / ton, the high 40-day line pressure is obvious, the long position to escape the aluminum price shock down. In the afternoon, with the color, the black short atmosphere appeared, and the shorts entered the acceleration of Shanghai aluminum. At the end of the session, some short positions were profitable and closed. Shanghai aluminum shock closed at 16,265 yuan / ton, and the position decreased by 33,396 hands to 312,454 hands. Shanghai Aluminum 1712 contract positions decreased by 33,396 hands to 312,454 hands. In the evening, it is expected that Shanghai Aluminum will still be difficult to get rid of the entanglement of the moving average and still oscillate between the moving averages. It is expected that aluminum prices will seek a breakthrough in the shock next week.
The aluminum fell back and oscillated. The transaction volume in Shanghai was 16160-16180 yuan/ton, the discount for the month was 140-130 yuan/ton, the transaction volume in Wuxi was 16160-16180 yuan/ton, and the transaction volume in Hangzhou was 16190-16210 yuan/ton. With the stable shipment of the holders, the middlemen from the positive attitude of receiving goods yesterday, for the downstream receiving goods, downstream weekend stocking, on-demand procurement, the overall transaction is general.
Lead : In the day, Lun lead opened at 2,843 US dollars / ton, affected by the strength of the US dollar, a large influx of shorts after the opening, Lun lead quickly down to 2450.5 US dollars / ton, noon profit in the afternoon to lighten up, Len lead relatively rebound, but the afternoon short Once again, the lead has continued to decline, with a minimum of 2430.5 US dollars / ton, as of 18:59, reported 2,434 US dollars / ton, down 46.5 US dollars / ton, down 1.87%. Lun lead recorded a large Yinxian, quickly fell below the 40-day moving average, below the 60-day moving average, and tested the effectiveness of the moving average support at night.
During the day, the Shanghai main lead 1712 contract opened at 19,110 yuan / ton at night, which was affected by the strength of the US dollar. After the opening, a large number of shorts poured in. The Shanghai lead quickly fell below the 19,000 mark, and the low was 18,655 yuan / ton. The reduction of warehouses, accompanied by partial long-term entry, the Shanghai period lead was temporarily arranged between 18,600-18,800 yuan / ton, but the short-selling forces were strong. In the afternoon, Shanghai's lead continued to decline, with a minimum of 18,520 yuan / ton, and finally closed at 18,635 yuan / ton. It fell 475 yuan / ton, down 2.49%. Volume increased by 15,618 lots to 101,866 lots, and positions increased by 2,252 lots to 53,734 lots. The Shanghai period lead recorded a large Yinxian line, and was close to the lower channel of the Bollinger Band. The short-term offensive or suspended in the evening was expected to be arranged in the vicinity of the 10-day moving average.
Shanghai market Jinsha lead 18935 yuan / ton, for 1711 contract premium 100 yuan / ton offer; imported KZ lead 18835 yuan / ton, for 1711 contract flat water offer; Wuxi Jingui lead 18985 yuan / ton, for 1711 contract premium 50 yuan / ton offer . The market broke down, the quotation of the holders went on the market, and the downstream inquiry increased. In addition to the weekend, some of the downstream replenished on demand, and the transaction was relatively better than yesterday.
Due to the sharp drop in lead prices in the Guangdong market, the low-selling sentiment of the holders was lower, and the enthusiasm for downstream purchases was not high. The demand was cautious on demand, and there was no quotation in the loose-selling market.
Wanyang and Lushan in Henan Province are only for long-term orders, and the single-selling orders are not quoted; the lead in Shandong Province is 19,075 yuan/ton, and the average price of SMM1# lead is 100 yuan/ton. The lead price plummeted, and the refinery held a wait-and-see attitude. The low-priced reluctance to sell was strong, while the downstream maintained long-term purchases, and the loose-selling market was light.
In the Anhui area, the copper crown waits and sees the market, and the single order is not quoted; the Jinde in Jiangxi is only for long-term orders, and the single-sell is not quoted; the lead in Hunan area is 18,775 yuan/ton, and the average price of SMM1# lead is 400 yuan/ton. Quote. The price of lead fell, and the enthusiasm of the refinery's bulk shipments was weak. The quotation was scarce. At the same time, the downstream wait-and-see was cautious, and the overall market transactions were general.
Zinc : Today's Lun Zinc opened at 3,214 US dollars / ton. The first zinc was near the opening price, and then the strong US dollar index fell to 3190 US dollars / ton. The downtrend was suspended, the US dollar index weakened in time, and the zinc zinc rebounded. Consolidate around the moving average at around $3,200/ton. In the afternoon, due to the internal market, the volume fell to a level of around $3,170/ton. As of 16:09, Lun Zinc reported $3,170/ton, down $49/ton, down 1.54%. In the day, the US refers to the strength of the strong, zinc pressure, the trend of the superimposed inner disk is also weak, the zinc operation is slightly depressed, if the US dollar index stays strong at night, the zinc or the upward movement is weak, and the shock is running.
Today, Shanghai's main zinc 1712 contract opened at 25,875 yuan / ton, the initial Shanghai zinc pressure average line in the vicinity of 25,920 yuan / ton short-term consolidation, then the multi-headed warehouse fled, laid the day's downward tone, fell to 25,750 yuan / ton near the temporary decline Consolidation, then the zinc price rebounded slightly after the short position, but the pessimism did not ease. Under the vacant level, the zinc price continued to vent, and the low price was 25,505 yuan/ton, with the short profit taking off, the Shanghai zinc tail was upturned. The final closing price was 25,570 yuan / ton, down 435 yuan / ton, down 1.67%, the volume increased by 4024 hands to 258,000 hands, the position decreased by 20,580 hands to 226,000 hands. In the day, Shanghai Zinc recorded a long Yin column, the operation was weak, and the environmental protection continued to heat up. The consumption in the north was difficult to pick up. The bears gained support slightly, and the superimposed black system was dragged down. In the evening, without obvious support. The zinc price or the 40-day daily support of the next line.
Shanghai 0# zinc mainstream traded at 26110-26290 yuan / ton, 0 # ordinary brand on Shanghai zinc 1711 contract premium 40-liter water 100 yuan / ton, compared with yesterday narrowed 20-50 yuan / ton; 0# double Yan For November, the premium was 90-100 yuan/ton, and the mainstream traffic of 1# was around 26000-26120 yuan/ton. The refinery temporarily shipped normally; near the weekend, the downstream bargain hunting, driving the trading of the trade market, the overall transaction today is slightly better than yesterday.
Today, Guangdong 0# zinc mainstream traded at 26230-26260 yuan / ton, Guangdong city compared with Shanghai stock market 120 yuan / ton of premium is basically the same as yesterday. The main force 1712 contract premium is around 510-530 yuan / ton. Today, the price of zinc fell, the refinery shipped normally, and the supply of zilin 0# zinc continued to be tight. The current price of 0# zinc was still firmer, overtaking the two places. Traders are mainly shipping, downstream dips, the willingness to get goods is higher than yesterday, and the market delivery volume is slightly better than yesterday. 0# Kirin, Cishan, Tiefeng mainstream turnover in the vicinity of 26230-26260 yuan / ton.
Tianjin market 0# zinc ingot mainstream turnover in 25930-26770 yuan / ton, 0 # ordinary brand mainstream turnover in 25930-25970 yuan / ton, on Shanghai zinc 1711 contract premium 100 - discount 180 yuan / ton. The zinc price fluctuated and the refinery shipped normally. The willingness to take goods downstream is still not strong, and the discount in Tianjin is further expanded. The overall market turnover was poor. 0# Zijin, Hung Hom and other transactions 25930-25970 yuan / ton, 1 # Zijin, Hung Hom, Chi Hong transactions at 25850-25900 yuan / ton.
Tin : Today, Lunxi opened at $19,800/ton. During the Asian session, it was near the 5-day moving average. The European and American markets rose slightly at the beginning of the session, hitting a high of $19,685/ton. In September, the profits of industrial enterprises above designated size increased by 27.7% year-on-year, and they maintained a significant acceleration for two consecutive months. In the evening, data such as the initial value of real GDP in the third quarter of the United States will be released. The support below Lunxi is 19,500 US dollars / ton, the upper resistance is 20,000 US dollars / ton, the short-term is expected to maintain a volatile trend, the test continues to rise.
Yesterday's Shanghai trading tin 1801 contract was stable, mainly in the range of 145000-145300 yuan / ton. Today, the opening price of 145,080 yuan / ton, by the large number of short-selling into the market continued to decline, the lowest hit 143,700 yuan / ton near the end, the final closing price of 143,710 yuan / ton, compared with the previous day settlement price fell 1,630 yuan / ton, down 1.12%. The turnover of 12,358 hands increased by 3,406 contracts from the previous day, and the number of positions increased by 448 contracts. Today, domestic industrial products are all green, and non-ferrous metals are all down. Shanghai-Tianxi fell below the previous support platform of 144,000 yuan/ton. Next, it may drop to 142,500 yuan/ton for support, and the short-term trend is weak.
In the Shanghai-Shenzhen market, the mainstream transaction in the Shanghai-Shenzhen market this morning was 142,500-144,000 yuan/ton, and the Shanghai-Shanghai tin was weak and the spot price was suppressed. Yunxi 144,000 yuan / ton, ordinary cloud word 143,000 yuan / ton, small 142,500 yuan / ton. In the afternoon, the disk continued to go down. The ordinary cloud word fell to around 142,500 yuan / ton, and the transaction was scarce.
Nickel : Today, the nickel plate opened at 11,755 US dollars / ton, the US dollar continued to strengthen, hitting a new high in three months. In the morning, the nickel was oscillating along the daily average unilaterally. The opening was low, and the nickel was slightly repaired in the morning. The upward momentum was weak. In the afternoon, Lun Nickel continued to decline, hitting a low of $11510/ton. As of 14:30, Lun Nickel reported at $11525/ton, closing at the Yintou Yinxian line. The Lun Nickel entity range runs below the 10-day moving average. The daily technical indicator KDJ is open downwards, the MAC red column is shortened, and the opening is gathered downwards. It is expected that the nickel or shock will run weakly in the evening, and the evening will pay attention to the initial value of the actual GDP in the third quarter of the United States.
Today, Shanghai Nickel opened at 94,290 yuan / ton. At the beginning of the session, Shanghai nickel fluctuated within a narrow range, with a high of 94,640 yuan / ton. After that, Shanghai nickel was down. In the afternoon, under the trend of iron ore, Shanghai nickel under pressure was below the daily average and continued to decline. , hit a low of 92,250 yuan / ton, closed at 92,540 yuan / ton, the whole day, Shanghai nickel closed in the upper shadow line of the longer shadow line, compared with the previous trading day settlement price fell 3,090 yuan / ton, a decrease of 3.23%, the volume Increased 21,000 hands to 560,000 hands, positions increased by 19,384 to 480,000 hands, Shanghai nickel entity range fell below the 5th and 10th moving averages, and the 40-day moving average was tested at night or downward. The daily technical indicator KDJ opened downward. MACD red column is shorter, it is expected that Shanghai nickel or weak shock during the night, the evening attention to Exxon Mobil Oil (XOM) released 2017Q3 financial report, the US third quarter real GDP annualized quarter-on-quarter value and US October University of Michigan consumer confidence The final value of the index.
SMM 1# electrolytic nickel 93850~94400 yuan / ton. Nickel fell sharply during the overnight trading session, and the decline continued this morning. Jinchuan Nickel is the mainstay of the 1711 contract with Wuxi. The mainstream premium is 500-600 yuan/ton, and the Russian nickel mainstream premium is 250 yuan/ton. The nickel price is down, and the downstream entities are waiting to see more. The willingness is weak, the market transactions are still mainly between traders. At the end of the month and the weekend, some traders are shipping at low prices due to the withdrawal of funds. The Russian nickel is as low as 200 yuan/ton, and Jinchuan is 350-400. Yuan / ton, lower than the mainstream market premium in the morning, Jinchuan company lowered the price of electrolytic nickel (large board) Shanghai to 94,000 yuan / ton, down 1800 yuan / ton, morning trading range 93550 ~ 94450 yuan / ton. In the afternoon, the nickel's decline was not stopped, the market turnover was rampant, and the afternoon trading range was 93050~93800 yuan/ton.
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