Close in early tradingCrashbandicootsonicThe main domestic futures contracts are mixed. Manganese silicon rose by more than 4%, transportation index, iron ore, soda ash rose by more than 2%, urea, Shanghai lead, lithium carbonate, SC crude oil and glass rose by more than 1%. In terms of decline, ethylene glycol (EG), Shanghai tin fell by more than 2%, NR, red jujube and caustic soda fell by more than 1%.

There may be steel moves to enter the market ahead of time in May, and manganese silicon will consider callback and choose to do more.

Manganese silicon main contract straight up in early trading, leading the rising market. Ruida Futures pointed out that on the supply side, individual manufacturers in Inner Mongolia have finished overhauling and resumed production, while others have added overhauls, and the level of work has not changed much. with the recent improvement in transactions, individual manufacturers in Ningxia have the idea of resuming production, which is mainly based on wait-and-see; southern manufacturers due to rising mineral prices, electricity tariff reduction has not yet been implemented, the cost is upside down, there is no obvious willingness to increase production, or gradually resume production in the flood season. On the demand side, steel mills have repaired profits, increased procurement, and reduced willingness to lower prices, but steel moves have gradually come to an end in April, with demand for manganese and silicon increasing in general. SM2409 contract shock finishing, supported by high cost and production reduction, the trend of manganese silicon is stronger than ferrosilicon, or there are May steel moves to enter the market ahead of time, consider callback to choose a machine to do more, please investors pay attention to risk control.

The overall non-ferrous market has cooled down recently, and the short-term correction in Shanghai and tin may not be over yet.

Shanghai tin main contract led the decline in the futures market, Jin Rui futures believe that non-ferrous generally fell, tin prices fell significantly. The upfront fundamentals of bullish mainly in overseas, low inventory support tin prices, but recently there are signs of LME inventory accumulation, it is recommended to pay attention to the recovery in Indonesia. Other bullish is still at the expected level, first, the supply side of Myanmar tin ore month-on-month reduction, domestic smelting raw materials hidden worries, currently maintain normal production. Second, the cyclical recovery of the downstream industry, looking forward to a substantial removal of domestic storage in the future. The expected level of cash is slow, the superimposed short-term increase is relatively large, and there is a significant correction in tin prices. Considering the recent cooling of the non-ferrous market as a whole, the short-term correction may not be over yet, but it will be viewed more in the medium and long term.