copper

Cru global copper conference was held in Chile today. Mine participants may lower the expectation of global copper supply in the future, which will bring about a long atmosphere for funds. The continuous rise of domestic spot premium and the decline of inventory last week also indicate this move. However, it is understood that the short-term copper supply is not a problem, coupled with low consumption, copper prices may continue to seek bottom in the second quarter. Operation, may meet the rebound sell short. The point of view is for reference only.

aluminum

At the same time, some traders made large purchases to reverse the weak trend of Shanghai aluminum, resulting in the spot discount still maintained at (paste) 100 - (paste) 60 yuan / ton, but the risk of 1504 position was obviously reduced. In terms of fundamentals, with the end of 1504 delivery, the expansion of spot discount may be unavoidable. Meanwhile, the deterioration of the fundamentals of export and domestic production reduction will make it difficult for aluminum prices to come out of the rebound. In operation, it is still suggested that 13500 yuan / ton of first-line selling is high and short, and lunlu aluminum is stronger or ushers in the opportunity of buying far months.

zinc

The short-term improvement of zinc demand will continue, while the expected certainty of supply contraction will further strengthen or consolidate the upward trend. Due to the low inventory level, the supply shock of lungzi has further decreased. Meanwhile, investors have begun to pay attention to the deterministic supply contraction before 2017, or to arrange multiple orders in advance. Operation is still recommended to continue to hold more orders, 16200 yuan / ton near bargain.

lead

Subject to the decline of lead inventory and the continued rise of cancellation of warehouse receipts, it shows that consumption is strong, and lead prices continue to strengthen. However, the main domestic delivery place in South China lead smelter overhaul or lead to warehouse receipt tension, evolving into the possibility of close positions, Shanghai lead trading limit on Friday. But overall, the lead overcapacity pattern is difficult to change, and the rise is only short-term. In the short run, multiple orders can be involved in the operation, and the position should be properly closed after delivery to see the resumption of production of the smelter.

nickel

BHP Billiton's Columbian nickel mine may strike on the 14th. Affected by the news, nickel prices rose at the end of Friday, but they still haven't come out of the impact of the sharp decline of nickel ore, which has brought about the cost drop. From the perspective of cost reduction, nickel price has limited space to go down in the future. At present, the price is close to the bottom. Meanwhile, the supply certainty shrinks, or leads to the expansion of supply gap, and the spot water raising structure is also unfavorable In short, therefore, it is still recommended to wait and see to buy low or buy Lun nickel short Shanghai nickel.