Stainless Steel Price On Mar 9th Are Sluggish
The economic recovery in the United States boosted the demand for the metal market. Nickel continued to close up slightly by 0.03% overnight; news of TSINGSHAN high ice nickel reshapes the nickel market’s supply and demand expectations. Stainless steel prices on the 9th are sluggish, and nickel is now down.
The economic recovery in the United States boosted the demand for the metal market; the latest closing price of LME Nickel was reported at US$16,380, an increase of US$5 or 0.03% from the previous transaction. The number of transactions was 8,945, a decrease of 3232 contracts of the last trading day, and the position held was 230,955. One trading day decreased by 1750 hands; in the evening, Shanghai Nickel opened lower and went up and closed slightly. Shanghai Nickel’s main month 2106 contract fell, and the latest closing price was 123350, down 120, a decrease of 0.10%.
London Metal Exchange (LME) on the 08th LME nickel stocks reported 260,376 metric tons, the same as the previous trading day’s stocks.
Changjiang Nickel Industry News: Today, Shanghai nickel futures mainly opened lower. The main month 2106 contract’s opening price fell from 121450 to 2020, and the main Shanghai nickel main contract 2106 contract fell 740 to 122730 at 9:30. Shanghai nickel opened lower and moved lower, with a slight decline in shock; The news of Qingshan Gao Bing Nickel reshapes the supply and demand expectations of the nickel market. The long-term nickel price is facing a revaluation. The price of stainless steel on the 9th is down.
On Monday, lead, tin, wire, and pulp listed on the Shanghai Futures Exchange, fell, while the remaining varieties rose. The total trading volume was 11,779,100 lots, the trading value was 1,411.119 billion yuan, and the open interest was 6,466,100 lots.
◆Non-ferrous metal index
The non-ferrous metals index rose slightly in the previous period. The index closed at 3,572.99 points, up 7.07 points, or 0.20%.
◆Variety of non-ferrous metals
Copper
Shanghai copper futures prices rose slightly. The main contract 2105 closed at 65870 yuan/ton, up 320 yuan, or 0.49%. At 15:00 on the same day, London March copper was quoted at US$8898.00/ton. The internal and external ratio between Shanghai and London was 7.40, which was lower than 7.41 on the previous trading day. The Shanghai copper futures rose less than the London market.
All contracts traded 434,119 hands, and open interest decreased by 4,455 hands to 356,203 hands. The main contract changed 178,431 hands, and the open interest decreased by 1409 hands to 125,393 hands.
Aluminum
Shanghai Stainless Steel Price futures prices rose slightly. The main contract 2104 closed at 17,260 yuan/ton, up 30 yuan, or 0.17%. At 15:00 on the same day, the London March aluminum price was 2182.50 US dollars/ton. The internal and external ratio between Shanghai and London was 7.91, which was lower than 7.94 on the previous trading day. The Shanghai aluminum futures rose less than the London market.
All contracts traded 540,213 hands, and open interest increased by 4,286 hands to 491,503 hands. The main contract traded 272,107 hands, and the open interest decreased by 5671 hands to 192,979 hands.
Zinc
Shanghai zinc futures prices rose. The main contract 2104 closed at 21260 yuan/ton, up 220 yuan, or 1.05%. At 15:00 on the same day, the London March zinc price was US$2770.00/ton. The internal and external ratio between Shanghai and London was 7.68, which was lower than 7.69 on the previous trading day. The increase in Shanghai zinc futures was smaller than that of the London market.
All contracts traded 254,873 hands, and open interest decreased by 2600 hands to 143,674 hands. The main contract was traded at 158,669 hands, and the open interest decreased by 1696 hands to 71965 hands.
Lead
Lead prices in Shanghai futures fell. The main contract 2104 closed at 14,825 yuan/ton, down 225 yuan, or 1.50%. The March lead price of London at 15:00 that day was US$2007.50/ton, and the internal and external ratio between Shanghai and London was 7.38, which was lower than 7.40 on the previous trading day. The Shanghai futures lead fell more than the London market.
All contracts traded 141,307 hands, and open interest increased by 13,877 hands to 93,578 hands. The main contract was traded at 85,341 hands, and the open interest increased by 6709 hands to 40,399 hands.
Nickel
Nickel prices in Shanghai futures rose slightly. The main contract 2104 closed at 121800 yuan/ton, up 40 yuan, or 0.03%. At 15:00 on the same day, the London March nickel price was $1,6360.00/ton. The internal and external ratio between Shanghai and London was 7.44, which was higher than 7.42 on the previous trading day. The Shanghai nickel futures rose more than the London market.
All contracts traded 1,127,545 hands, and open interest decreased by 1308 hands to 243,133 hands. The main contract changed 278,739 hands, and the open interest decreased by 6151 hands to 77817 hands.
Tin
The price of tin futures in Shanghai fell. The main contract 2105 closed at 170850 yuan/ton, down 3470 yuan, or 1.99%. At 15:00 on the same day, the London March tin price was US$2,3790.00/ton. The internal and external ratio between Shanghai and London was 7.18, which was lower than 7.31 on the previous trading day. The Shanghai tin futures fell more than the London market.
All contracts traded 151,326 hands, and open interest increased by 3136 hands to 57,251 hands. The main contract was traded 68,120 hands, and the open interest increased by 1,841 hands to 30,366 hands.
◆Precious metal steel varieties
Futures
Shanghai gold futures prices rose slightly. The main contract 2106 closed at 360.36 yuan/g, up 1.88 yuan, or 0.52%. The Shanghai spot 99.95 price was 359.05 yuan/gram at 15:00 on the same day, and the gold futures contract discounted 0.69 yuan/gram.
All contracts traded 235,536 hands, and open interest decreased by6,452 hands to 19,527 hands. The main contract traded 179,040 hands, and the open interest decreased by 6,495 hands to 135,418 hands.
Silver futures
Shanghai silver futures prices rose slightly. The main contract 2106 closed at 5316 yuan/kg, up 1 yuan, or 0.02%. At 15:00 on the same day, the Shanghai spot silver T+D price was 5248.0 yuan/kg, and the nearby silver futures contract premium was 1.00 yuan/kg.
All contracts traded 1,705,684 hands, and open interest decreased by 26,729 hands to 572,229 hands. The main contract traded 1,459,478 hands, and the open interest decreased by 22,561 hands to 440,274 hands.
Rebar
The price of rebar in Shanghai rose slightly. The main contract 2105 closed at 4752 yuan/ton, up 34 yuan, or 0.72%.
All contracts traded 2,361,803 hands, and open interest increased by 3537 hands to 1,798,923 hands. The main contract was traded at 1,947,568 hands, and open interest increased by 7,643 hands to 1,105,484 hands.
Wire
The price of wire rods in Shanghai dropped to a certain extent. The main contract 2105 closed at 4884 yuan/ton, down 103 yuan, or 2.07%.
Sixty-three lots of all contracts were traded, and open interest increased by 21 hands to 103 hands. The main contract traded 63 hands, and the open interest increased by 21 hands to 83 hands.
Hot-rolled coil
The price of hot-rolled coils in Shanghai has risen. The main contract 2105 closed at 4964 yuan/ton, up 80 yuan, or 1.64%.
All contracts traded 704453 hands, and open interest increased by 4871 hands to 703537 hands. The main contract was traded at 519,103 hands, and open interest increased by 5,769 to 436,414.
stainless steel price on Mar 9th
The price of stainless steel price on Mar 9th in Shanghai has risen. The main contract 2105 closed at 14,170 yuan/ton, up 165 yuan, or 1.18%.
All contracts were traded at 233,216 hands, and open interest decreased by 154 hands to 203,910 hands. The main contract traded 166,145 hands, and the open interest decreased by 235 hands to 101,217 hands.
◆Energy and chemical products
Natural rubber
The price of natural rubber in Shanghai rose slightly. The main contract 2105 closed at 15,160 yuan/ton, up 5 yuan, or 0.03%. At 14:30 that day, the Tokyo-based natural rubber benchmark contract price closed at 0.00% and closed at 0.0 yen/kg, a smaller increase than the Shanghai market.
All contracts traded 817,210 hands, and open interest increased by 8,293 hands to 297,913 hands. The main contract traded 642539 hands, and the open interest increased by 2019 to 1,83977 hands.
Fuel oil
The price of fuel oil in Shanghai rose sharply. The main contract 2,105, closed at 2,624 yuan/ton, up 194 yuan, or 7.98%.
All contracts traded 1,400,071 hands, and open interest increased by 12,219 hands to 396,284 hands. The main contract traded 994,426 hands, and the open interest increased by 14282 hands to 282,643 hands.
Asphalt
The price of petroleum asphalt in Shanghai rose sharply. The main contract 2106 closed at 3308 yuan/ton, up 168 yuan, or 5.35%.
All contracts traded 613386 hands, and open interest increased by 1386 hands to 454953 hands. The main contract traded 561979 hands, and open interest increased by 224 hands to 362,600 hands.
Pulp
Shanghai pulp prices fell slightly. The main contract 2105 closed at 7232 yuan/ton, down 8 yuan, or 0.11%.
All contracts traded 926,297 hands, and open interest increased by 16,074 hands to 375,779 hands. The main contract traded 758,728 hands, and the open interest increased by 1905 hands to 181,793 hands.
Quote:
1.The London Metal Exchange (LME) is a global trading center for industrial metals. Most of the world’s non-ferrous metals are conducted on LME’s three trading platforms.
2.The Shanghai Futures Exchange currently trades 11 futures contracts including gold, silver, copper, aluminum, zinc, lead, rebar, wire rod, fuel oil, natural rubber, and asphalt.