On april 1st, zhang xue, zhang zhengxi, zhang zhengxi, zhongxi, zhonghuai, zhong zhui, zhong zhui, zhong zheng, zhong zheng, zhong zhui, zhang zhang zhu, zhang zhang zhang zhengxi, zhang zhu zhang zhui, zhang zhang zhang zhengxi, zhang zheng zheng zhu, zhang zhu zhu zhu zhu zhu zhu zhu zhu zhu, zhang zhu zhang zhang zhang zhang zhang zhang zhengxi, zhu zhang zhang zhang zhang zhu, zhu zhu zhu zhu zhu zhu zhu zhu zhu zhu zhu zhu with regard to the increase in varieties, the main contract for silver and gold has increased by nearly 5 per cent, the main contract for silver and gold by more than 3 per cent and the main contract for platinum by more than 2 per cent。
By the end of the day, the cpi had received 173. 3. 82 points, down by 1. 27 per cent from the date of the previous transaction, and by 2389. 29 points from the date of the previous transaction, down by 30. 74 per cent。
Figure showing the futures price index for chinese-certified commodities in the day (source: professional terminal for xinhua finance and economics)
The war in the middle east is expected to slow down
On 31 march, local time, the president of the united states, trump, indicated that the military operations against iran might end within two to three weeks. On the same day, iranian president pizehiziyan also stated that iran had the “necessary will” to put an end to the war, provided that the other party satisfied the iraqi side's claims and, in particular, provided the necessary guarantees were made against further aggression. This signal, released by both sides, boosted the market’s optimistic expectation of a moderate war in the middle east, with a massive rebound in global stock markets, a fall in international oil prices, and a collective setback in domestic related varieties, with the combined european line and the sc crude oil main contract falling by almost 13 per cent。
Sc crude oil suffered a severe one-day setback, with a large pre-oppression risk premium recorded in the pre-supply panic and further weakening from the cost end of the exhausting plate, with a drop of over 11 per cent in fuel oil, ethanol, lu fuel, 8 per cent in pure benzene, methanol, 7 per cent in styrene, 6 per cent in dibenzo, 5 per cent in pta, asphalt, liquefied gas, etc. By the end of the afternoon. According to a positive medium-term futures analysis, although signals from both the united states and the islamic republic of iran have cooled market tensions, the situation in the middle east remains uncertain and it is not yet possible to confirm whether oil prices have begun to trend back. Access to the strait of hormuz remains a key determinant of oil price trends. The agency is of the view that if the situation in the middle east continues to cool down and the strait of hormuz returns to normal navigation, oil prices may fall quickly, but they will still be higher than before the american-israeli conflict. Conversely, oil prices will remain high. The huatai futures also indicated that the crude oil market had entered a phase of substantial supply shortages and that the geomorphological situation continued to affect supply. While the short-term segment may have been affected by the reversal of gains, oil prices are expected to maintain a high-level shock bias until a substantial change in supply-side stress patterns is achieved, but it needs to be noted that oil prices have increased in short-term volatility and need to be carefully traded。
The bulk of the combined european line contract jumped and fell sharply, leading to a decline of 12. 88 per cent in commodity markets. The lessening of market concerns about the obstruction of the strait of hormuz is a central factor in the expected rapid fall in shipping prices. However, owing to the continuing uncertainty of the geographical situation, changes in the regime of passage and the potential risk of conflict in the straits of hormuz have not been fully eliminated and may continue to disrupt market sentiment intermittently. In terms of basic aspects, the current bulk market is mixed, but spot prices continue to fall, and real pressures in the off-season season have suffocated the landscape. South china futures noted that the relatively adequate supply of capacity in april and the lack of sufficient volume support had led to the concentration of actual recovery offers in large container areas of us$ 2000-2300, making it difficult to support higher futures face prices and the expected short-term consolidation of european line futures to maintain shock weakening patterns. Among them, the main 2606 contract will continue to be suppressed by the weakness of the spot market after the back-up geo-pricing premium. Despite the market's expectations of a may bid by the shipping division, the cut-off pressure on previous late-season contracts has become more immediate or will discourage overtones. At the same time, the uncertainties and volatility of long-term contracts remain significant and require close attention to the geo-situation situation and the evolution of the division's actual pricing strategy。
Gold and silver are rising together
As of 1 april, the global price of precious metals had risen sharply, with international spot gold reaching $4730 per ounce, rising to over $75 per ounce; domestic silver and silver had increased by 4. 98 per cent, with a 3. 69 per cent, 3. 18 per cent and 2. 27 per cent, respectively, higher than the four highest on the day of separation. Optimistic expectations of fighting in the middle east have led to a significant reduction in the pressure on precious metals to sell at the beginning of this round of conflict. At the same time, the overnight jolts report shows a simultaneous deterioration of many indicators in the united states labour market in february, the market’s focus on fed interest rate reductions, the fall in the dollar index and the us debt return, and the rebound of precious metals. However, the geologic situation, in particular the shipping problems in the straits of hormuz, remains uncertain, and the continued high oil prices will continue to shock inflation and monetary easing expectations, which means that prices of precious metals remain repeated in the short term。
Non-ferrous metal plates split in one day, with copper and tin rebounding together and double-receiving by more than 1 per cent. Macro factors remain the main drivers of copper tin prices. The release of the armistice intentions by both sides has contributed to the expected warming of the market to ease the situation in the middle east, which constitutes the main underpinning of short-term copper tin prices. In terms of basic performance, the recent performance of copper is slightly different. With the increase in the copper market, social stocks have been rapidly debilitated, reinforcing the market's expectations of resilience to domestic demand for copper. According to data from the shanghai steel union, as at 30 march, there were 41. 27 million tons of live domestic electrolyte copper stocks, a decrease of 7. 35 million tons in roundabouts. The tin market is less volatile in the short term and demand is still at a high-season validation stage, with few fundamental contradictions. However, in the opinion of the analysts, while the mood fluctuations surrounding the geomorphological situation have dominated the price volatility of copper tin in the short term, both varieties are still supported in the medium and long term by supply constraints and narratives of ai and energy transformation。
For other varieties, apples rebounded after a month of exposure on the previous trading day, with the tailings rising by almost 1 per cent。
