en.Wedoany.com Reported - As of the daytime close on May 19, the domestic non-ferrous metals market strengthened overall. Shanghai nickel led the gains among base metals on the domestic market with a 2.06% increase, Shanghai aluminum closed up 1.14%, and the gains for other varieties were all within 1%. The alumina main contract fell 0.51%, while the cast aluminum main contract rose 1%. In terms of new energy metals, the lithium carbonate main contract fell 3.71%, the polysilicon main contract fell 1.49%, and the industrial silicon main contract fell 0.18%. The European line container shipping main contract rose 2.07%, reporting at 2637.5 points.
On the overseas market, as of 15:03, base metals on the London Metal Exchange were mixed. London nickel led the gains with a 1.43% increase, London aluminum and London zinc both rose around 0.3%; London copper, London lead, and London tin all fell, with London tin down 0.32%, London copper down 0.31%, and London lead down 0.15%. In the precious metals market, as of the same time, COMEX gold fell 0.21%, and COMEX silver fell 1.19%; domestically, Shanghai gold rose 0.19%, and Shanghai silver rose 0.31%. The platinum main contract rose 0.44%, and the palladium main contract fell 0.21%.
In terms of macro news, at the domestic level, the State Council Information Office will hold a press conference at 10:00 a.m. on May 22. CCPIT Vice Chairmen Li Xingqian and Liu Jiannan will introduce the preparations for the 4th China International Supply Chain Promotion Expo and answer reporters' questions. Additionally, according to the "Fujian Province '15th Five-Year Plan' Optoelectronic Industry Cluster High-Quality Development Action Plan (Draft for Comments)," the province proposes that by 2030, the revenue scale of the province's optoelectronic industry cluster will exceed 300 billion yuan. It will focus on developing advanced technologies such as high-performance coherent optical systems for AI computing center interconnection scenarios and linear drive pluggable optical modules, and accelerate the R&D and industrialization of products like no less than 200G EML, no less than 800mW high-power lasers, and no less than 800G high-speed optical modules.
The US Dollar Index rose 0.19% to 99.17 as of 15:03. Analysts at Macquarie Group stated that even if the Federal Reserve signals a shift to a neutral stance in June, it may still be insufficient to stabilize inflation expectations. HSBC economists pointed out that even if a peace agreement is reached between the US and Iran in the short term, more central banks are expected to raise policy interest rates. Furthermore, a White House official confirmed that Kevin Warsh will be sworn in as Federal Reserve Chair on May 22, succeeding Powell, whose formal term has ended.
Data to be released today includes the US ADP Employment Change for the week ending May 2, the US Pending Home Sales Index month-over-month for April, and the Eurozone Seasonally Adjusted Trade Balance for March, among others.
In the crude oil market, as of 15:03, oil prices fell on both exchanges, with WTI oil down 0.69% and Brent oil down 1.46%. The US announced a further 30-day extension of the sanctions waiver for Russian seaborne oil; in response to a request from Gulf allies, US President Trump canceled a planned military strike on Iran on the 19th, causing international oil prices to fall. The Middle East conflict has driven up crude oil costs, leading Indian state-owned refiners to raise fuel prices for the second time within a week, with diesel and gasoline in New Delhi rising by 1% and 0.9% respectively. Nikko Securities economists predict that under a scenario of easing Middle East tensions, Japan's economic growth rate could average 0.5%, while if the conflict persists, upward pressure on oil prices will be inevitable.
In the daily commentary from Shanghai Metals Market (SMM), aluminum alloy futures consolidated within a range, while spot prices remained stable; in the secondary lead market, downstream battery manufacturers' rigid demand favored primary lead; the May 19 waste battery market transaction summary showed limited market activity. For nickel pig iron, downstream price suppression sentiment intensified, and the price center of high-grade NPI shifted downward. MHP and high-grade nickel matte nickel prices declined, the nickel sulfate market saw quiet transactions, and nickel salt prices slightly decreased. Stainless steel SS futures continued their downward trend under pressure, and spot price cuts led to a strong wait-and-see atmosphere in the market. Rebar's late-session pullback momentum was limited, with strong market wait-and-see sentiment. Short-term plate prices continued to fluctuate narrowly. Chromium market quotes continued to be lowered, with ample supply weakening the market. Rare earth prices declined overall, with downstream purchasing attitudes cautious. Platinum prices fluctuated, the spot market was relatively active, and the discount continued to narrow. Silver prices stopped falling and rebounded, with low spot market activity.
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