Market News
non-ferrous metal green manure red thin black series falling iron ore fell more than 2%

ASG 11, March 27: today's non-ferrous metal green manure red and thin, by the end of the day, Shanghai copper rose 0.62%, Shanghai aluminum fell 0.22%, Shanghai zinc rose 0.58%, Shanghai lead fell 0.62%, Shanghai nickel fell 0.16%, Shanghai tin fell 0.32%.

Zinc, Shanghai zinc shock rebound. Guoxin Futures said on the macro side, China's National Bureau of Statistics said on Wednesday that the total profits of industrial enterprises above the size of October fell 9.9% from a year earlier, down from 5.3% in September. Investors will welcome US GDP and PCE inflation data tonight to guard against possible market fluctuations. Recently, there has been no significant change in the fundamentals of the zinc market, which is still a contradiction between the increase of supply pressure and the low level of inventories. In the short term, the zinc market is expected to deviate from the fundamentals in the long and short term.

Nickel, Shanghai nickel fell first and then rose overall flat. On November 22, the Indonesian government issued a document numbered ND-1141/BC/20191, according to which it can be considered that as long as the quota is still valid with SPE approval, as long as the company has a physical smelter and meets the statutory requirements, the General Administration of Customs may handle the export of nickel ores with a nickel content of less than 1.7 per cent in accordance with laws and regulations without the recommendation of the General Administration of Mines and Coal. According to research, as a result of Indonesian port inspection, outbound vessels dropped sharply in November, and nickel mine imports are likely to drop sharply that month. In addition, after Indonesian officials set nickel mine prices for the first time, the costs of local nickel-iron enterprises have risen, which may affect the progress of the subsequent construction of new nickel-iron production capacity, and nickel prices in the future should not be overly bearish.