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Nonferrous Metals: global economic recovery to support non-ferrous metal prices

Release time:2017-03-29Author:Click:188Font size:BigMidSmall

Metal market continues to shock. When the week of non-ferrous metals market by the United States positive economic data and the euro zone debt problems lead to stronger dollar and other factors, most of the metal to maintain the trend of shock. As of April 23rd, the LME copper, aluminum, lead, zinc, tin and nickel weekly gains were -0.2%, -4.2%, 1.7%, -0.8%, -1.2% and 1.1%, of which nickel and then high. And the same as Lun Lun, when the Shanghai Stock Exchange on the metal market is also dominated by shocks, most of the metal week decline of around 1%.
Gold prices rose slightly. Stimulated by the U.S. economic data, the stock market is strong, the market risk will increase, when the price of gold rose slightly, as of the close, London gold spot quotes $1155.9 / ounce, the highest price for the week
The Shanghai stock exchange continued to decline. Nearly half a month, the economic data in Europe and the United States continued to improve, and the corresponding LSE is part of the metal stock for a few weeks decreased, especially copper inventory is close to the level of early, while nickel and tin stock are compared with the beginning of 7.2% and 16.9% of the decline.
Global stainless steel production continued to increase in the first quarter. According to CRU stainless steel raw material monthly data, the global steel stainless steel orders continued to improve in most regions in the first quarter, leading to global smelting production increased, is expected in 2010 first quarter of world stainless steel output back to the pre crisis level of 7 million 400 thousand tons, an increase of 8%, an increase of 48%. Among them, the improvement of the European speculative demand most from re prepared with the distributors and end users, but the North America and Chinese orders is improved according to actual demand and strong. It is expected that global stainless steel production is expected to rise further in the second quarter on the basis of continued improvement in real demand, coupled with a stable distribution and end user. CRU is expected in the second quarter of the world's total production volume will reach 7 million 660 thousand tons, which is equivalent to a new quarterly peak. According to our statistical data on raw materials of stainless steel, nickel since the beginning of this year, up 45.6%, molybdenum concentrate since the beginning of this year rose by 16.2%, electrolytic manganese rose to $8.9%.
Our view: Despite the recent allegations of Goldman Sachs incident, the Chinese government has introduced policies to strictly control the real estate industry, but we believe that the impact of these factors are temporary. Recently, more and more macroeconomic data show that China's other countries outside the metal demand showed a relatively strong recovery. However, in recent years, China's real estate industry regulation and control policy, we believe that will affect the investment in new housing, and then to the metal demand. We maintain our previous judgment, in consideration of the global economic recovery trend, the supply situation and the bearish view on the dollar under the premise, we remain cautiously optimistic bias for the nonferrous metals industry, non-ferrous metals demand but is expected to maintain the past rises the possibility is very small.
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Add:No.108,Hexiang Road,Baihe Town,Huayang Industrial Cluster District,Mengjin County,Luoyang City ,Henan Province .P.R.China.

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