Quotes review:
The price of domestic non-ferrous metals maintained a weak market, and the price rebounded weakly and went down again. The copper price rebounded weakly in early morning and continued to oscillate downwards. Shanghai copper 1102 contract closed at 64,310 yuan/t, down 810 yuan/t, with 359,490 lots, hand positions decreased by 7,294 lots to 134,012 lots; Shanghai aluminum prices opened higher and lower, around Under the drag of falling varieties, the 1102 contract closed at 16,655 yuan/t, down 125 yuan, and traded 121,658 lots. The position decreased by 5420 lots to 114,232 lots. Shanghai zinc prices fell again, Shanghai zinc 1103 contract fell by more than 4% to close at 18,445 yuan / t, closing 1,175,790 hands, positions increased by 34,666 hands to 191,070 hands.
Operation strategy:
The performance of the copper market is weak, and the effectiveness of the key support position of RMB 64,000 will continue to be tested in the near future; Shanghai aluminum prices will continue to fluctuate, and the tightening of tightening expectations will still put pressure on aluminum prices. It is expected that the short-term aluminum prices will continue to be repeated, alerting the surrounding markets. The price dragged by the decline was mainly due to short-term trading. The zinc price continued its weak adjustment and is still dominated by adjustments. Weak thinking approach.
Influencing factors:
From the perspective of market performance, short-term policies still dominate the market. The further increase in inflationary pressures has led to the government's introduction of more-than-expected regulatory measures. This has caused the recent panic of the market to spread, and the stock market and the gambling market have suffered a series of setbacks. Recently, several major ministries, including the National Development and Reform Commission and the Ministry of Industry and Information Technology, have brewed price controls. Zhou Xiaochuan, the Governor of the Central Bank, also stated recently that the current global economic environment is still more complicated and emerging economies are facing pressure from capital inflows. The upward pressure on prices also needs attention from all quarters.
The US announced slightly better-than-expected consumption data. US retail sales rose 1.2% on the month. Analysts forecast a rise of 0.7%. After correcting in September, the increase was 0.7%, and the previous value was 0.6%. According to data released by the University of Michigan, the initial value of consumer confidence in the United States in November was 69.3, estimated at 69, and the final value in October was 67.7.
In order to contain the severe inflation situation, emerging countries and developed countries began to change their policy orientation. India, Australia, and China have raised interest rates. Today, the Bank of Korea also stepped into the ranks of the interest rate hike. South Korean central bank officials said that the monetary policy committee raised the repurchase rate on the 7th to 2.5%, which was the first time the central bank raised interest rates since July, when the interest rate was raised to 2.25%. This move has also aggravated the domestic increase in interest rate expectations.
Variety fundamentals:
Copper: LME copper stocks were reduced by 75 tons to 363,000 tons; COMEX copper stocks were reduced by 50 short tons to 74,285 short tons. The domestic spot market transaction status is still poor. The spot price of Shanghai electrolytic copper is discounted at 250-150 yuan/t, flat water copper price is 64300-64800 yuan/t, and premium copper price is 64450-64900 yuan/t. In the news, the Collahuasia copper mine in Chile continued to operate. There is still no new negotiation plan.
Aluminium: LME aluminum stocks remained at 4.252 million tons. The wait-and-see atmosphere in the downstream spot market in East China began to appear, and the transaction status continued to weaken. Shanghai aluminum spot transaction price 16370-16400 yuan / t, discount 70-50 yuan / t, Wuxi spot transaction price 16390-16420 yuan / t. The Development and Reform Commission Material Reserve Bureau issued an announcement that it plans to sell 117,000 tons of state-reserved aluminum ingots through open bidding on November 23-24. Prior to this, the State Reserve Bureau opened an auction sale of 96,000t national reserve aluminum ingots on November 1st and 2nd, with an average transaction price of 15,343 yuan/t. The re-throwing of aluminum in the country shows that the government's determination to control prices is expected to increase the supply of the domestic aluminum market in the near future and slow down the decline in aluminum stocks in the spot market. Short-term policy risks have not yet been released and market volatility has increased.
Zinc: LME zinc inventories were reduced by 450 tons to 631,000 tons. Downstream purchase of the domestic spot market was relatively positive, and the transaction status was relatively active. Zinc on the 0th spot rose to around 18,000 yuan/t, and Zinc on the 1st spot price was between 17850-17900 yuan/t.
The price of domestic non-ferrous metals maintained a weak market, and the price rebounded weakly and went down again. The copper price rebounded weakly in early morning and continued to oscillate downwards. Shanghai copper 1102 contract closed at 64,310 yuan/t, down 810 yuan/t, with 359,490 lots, hand positions decreased by 7,294 lots to 134,012 lots; Shanghai aluminum prices opened higher and lower, around Under the drag of falling varieties, the 1102 contract closed at 16,655 yuan/t, down 125 yuan, and traded 121,658 lots. The position decreased by 5420 lots to 114,232 lots. Shanghai zinc prices fell again, Shanghai zinc 1103 contract fell by more than 4% to close at 18,445 yuan / t, closing 1,175,790 hands, positions increased by 34,666 hands to 191,070 hands.
Operation strategy:
The performance of the copper market is weak, and the effectiveness of the key support position of RMB 64,000 will continue to be tested in the near future; Shanghai aluminum prices will continue to fluctuate, and the tightening of tightening expectations will still put pressure on aluminum prices. It is expected that the short-term aluminum prices will continue to be repeated, alerting the surrounding markets. The price dragged by the decline was mainly due to short-term trading. The zinc price continued its weak adjustment and is still dominated by adjustments. Weak thinking approach.
Influencing factors:
From the perspective of market performance, short-term policies still dominate the market. The further increase in inflationary pressures has led to the government's introduction of more-than-expected regulatory measures. This has caused the recent panic of the market to spread, and the stock market and the gambling market have suffered a series of setbacks. Recently, several major ministries, including the National Development and Reform Commission and the Ministry of Industry and Information Technology, have brewed price controls. Zhou Xiaochuan, the Governor of the Central Bank, also stated recently that the current global economic environment is still more complicated and emerging economies are facing pressure from capital inflows. The upward pressure on prices also needs attention from all quarters.
The US announced slightly better-than-expected consumption data. US retail sales rose 1.2% on the month. Analysts forecast a rise of 0.7%. After correcting in September, the increase was 0.7%, and the previous value was 0.6%. According to data released by the University of Michigan, the initial value of consumer confidence in the United States in November was 69.3, estimated at 69, and the final value in October was 67.7.
In order to contain the severe inflation situation, emerging countries and developed countries began to change their policy orientation. India, Australia, and China have raised interest rates. Today, the Bank of Korea also stepped into the ranks of the interest rate hike. South Korean central bank officials said that the monetary policy committee raised the repurchase rate on the 7th to 2.5%, which was the first time the central bank raised interest rates since July, when the interest rate was raised to 2.25%. This move has also aggravated the domestic increase in interest rate expectations.
Variety fundamentals:
Copper: LME copper stocks were reduced by 75 tons to 363,000 tons; COMEX copper stocks were reduced by 50 short tons to 74,285 short tons. The domestic spot market transaction status is still poor. The spot price of Shanghai electrolytic copper is discounted at 250-150 yuan/t, flat water copper price is 64300-64800 yuan/t, and premium copper price is 64450-64900 yuan/t. In the news, the Collahuasia copper mine in Chile continued to operate. There is still no new negotiation plan.
Aluminium: LME aluminum stocks remained at 4.252 million tons. The wait-and-see atmosphere in the downstream spot market in East China began to appear, and the transaction status continued to weaken. Shanghai aluminum spot transaction price 16370-16400 yuan / t, discount 70-50 yuan / t, Wuxi spot transaction price 16390-16420 yuan / t. The Development and Reform Commission Material Reserve Bureau issued an announcement that it plans to sell 117,000 tons of state-reserved aluminum ingots through open bidding on November 23-24. Prior to this, the State Reserve Bureau opened an auction sale of 96,000t national reserve aluminum ingots on November 1st and 2nd, with an average transaction price of 15,343 yuan/t. The re-throwing of aluminum in the country shows that the government's determination to control prices is expected to increase the supply of the domestic aluminum market in the near future and slow down the decline in aluminum stocks in the spot market. Short-term policy risks have not yet been released and market volatility has increased.
Zinc: LME zinc inventories were reduced by 450 tons to 631,000 tons. Downstream purchase of the domestic spot market was relatively positive, and the transaction status was relatively active. Zinc on the 0th spot rose to around 18,000 yuan/t, and Zinc on the 1st spot price was between 17850-17900 yuan/t.
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