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[Latest market]
â— LME Electronics - copper 7287.5 fell 17, aluminum 1865.5 rose 14.5, zinc 1885 rose 15.5, lead 2126.2 rose 9.7, nickel 14810 fell 66, tin 20930 fell 170.
â— International spot gold 1391.6 fell 1.43, silver 22.51 rose 0.02, platinum 1455.75 rose 0.75, palladium 748.5 fell 1.15.
â— LME copper stock 613725 minus 5925; aluminum stock 5203150 minus 9900; zinc stock 1095350 minus 250; lead stock 225150 minus 5575; nickel stock 179832 increased 462; tin stock 13875 minus 20.
â— Shanghai futures trading day inventory: copper 51909 fell 2102; aluminum stocks 243025 fell 597; zinc stock 134651 fell 1435; lead stock 113912 fell 100.
[LME Interpretation and Today's Forecast]
â— Lun copper early evaluation: the overall news is weak, overnight copper fell slightly, 7200 has strong support. The downstream has low recognition of domestic spot high water, and lack of buying interest; copper market demand is not good, copper price trend is worrying.
â— Lun aluminum early comment: overnight US dollar index fell back to the high end of the Lun aluminum finally closed slightly, although the US dollar index has fluctuated in the near future, but we still believe that its general trend is upward; the same aluminum price is also easy to fall and difficult to rise, can continue High cloth.
â— Lun lead early evaluation: overnight lead rose slightly, lun lead stocks fell more than 5,000 tons, the support for Lun lead still exists, but the external disk to the domestic lead price is relatively limited, the domestic lead price is stable.
â— Long-term evaluation of zinc: The US dollar fell sharply to help metal, overnight zinc rose from falling, active buying in low position, technical form may soon break through, and now the domestic zinc price is up 100 yuan, merchants can vote - machine Buy goods.
â— Lunxi early assessment: IMF lowered China's economic growth forecast, Lunxi fell 0.81%; Lunxi fell below the 5-day line support, the transaction volume slightly enlarged, the day to continue to explore demand, temporarily look at 20,800 support.
â— Lun Nickel's early assessment: The International Monetary Fund on Wednesday lowered its estimate of China's growth rate this year, which worried the market. Yesterday, the nickel volatility was lower, and the short position was more obvious. It is expected that it will be difficult to change the weak pattern in the short term.
[Industry Interpretation]
â—In April, the global unwrought aluminum inventory was 1.22 million tons.
According to data released by the International Aluminum Association (IAI) on Tuesday, the global unwrought aluminum inventory in April was 1.22 million tons, which was revised to 1.238 million tons in March. IAI said that in April 2012, the global unwrought aluminum inventory was 1.453 million tons.
Interpretation: Although the global unwrought aluminum inventories have declined, but the downstream demand is sluggish, the overall supply oversupply situation in the market has not improved much; we expect that the aluminum price trend will continue at least for some time to come. Pressure.
â— China's refined zinc production in April was 446,500 tons, a decrease of 3.0% from the previous month.
Interpretation: Due to the continued sluggish zinc price in the near future, the smelter has to adjust production, and the operating rate has continued to decline in recent months. As the supply decreases, the market surplus situation may improve, which will bring about a recovery rebound in the late zinc price.
[Financial Express]
The Dow Jones index fell 106.6 at 15302.8, Nasdaq 3467.51 fell 21.38, Hang Seng Index fell 226942 at 22554.93, CRB index 531.31 rose 0.5, US dollar index 83.61 fell 0.01, EUR/USD 1.2941 rose 0.0002, and USD/JPY 100.98 fell 0.14.
[Auditor Reads Finance]
â— China's first quarter GDP was 7.7%
Interpretation: The IMF lowered its GDP growth forecast for China in 2013 and 2014 to 7.75%, which was originally expected to be 8% and 8.2% respectively. China's first quarter GDP was 7.7%. Recently, many institutions have sang the growth rate of China's economy. In mid-May, Goldman Sachs lowered its GDP forecast from 7.8% to 7.6%. The new leader hinted at a higher tolerance for the slowdown in economic growth, so the metal lacked upside momentum.
â— Domestic demand drives green consumption to promote energy conservation and emission reduction
The Ministry of Finance said that in June, five types of energy-saving appliances such as air conditioners will no longer be subsidized. In order to expand domestic demand, stimulate green consumption, and promote energy conservation and emission reduction, in June 2012, the State Council decided to use financial subsidies to promote air conditioning, flat-panel TVs, and electricity. Five types of high-efficiency energy-saving appliances such as refrigerators, washing machines and water heaters are tentatively scheduled for one year.
Interpretation: Basic metals are widely used in the production of air conditioners, flat-panel TVs, refrigerators, washing machines, water heaters, etc. With the suspension of the Ministry of Finance's home appliance subsidy policy, the demand for household appliances will have a certain inhibitory effect, which will be weakened to some extent. Metal demand will also have a certain adverse effect on metal trends.
May 30th Nonferrous Metals Morning Post Review
Abstract Core Tip: Overnight US housing and consumer confidence data is stronger than expected, but at the same time it also strengthens the Fed's expectation of reducing QE3 size. The US dollar index is rising strongly, and the basic metals are under pressure. The Shanghai SSE index is flat and the market sentiment has not improved significantly. . [Latest market] â—L...
Core Tip: Overnight US housing and consumer confidence data is stronger than expected, but at the same time it also strengthens the Fed's expectation of reducing QE3 size. The US dollar index is rising strongly, and the basic metals are under pressure. The Shanghai SSE index is flat and the market sentiment has not improved significantly.