Resource Stock Review - November 1
On November 1, the domestic commodity futures market closed with mixed ups and downs. Most energy chemicals rose, LPG rose more than 3%; most basic metals fell by more than 4%, Shanghai nickel fell by more than 2%; black rose by more than 2%, manganese and silicon rose by nearly 1%; precious metals all fell, with Shanghai Bank falling more than 2%; agricultural products rose more than 1%; apple rose more than 1%, cotton yarn, and vegetable meal fell more than 1%. $SSIF DCE Iron Ore Futures Index ETF.HK$
Iron ore news:
Recently, the General Administration of Customs issued the “Implementation Plan of the General Administration of Customs on Promoting the Continuous and High-Quality Development and Reform of Processing Trade”, which mentions supporting the import of energy commodities such as crude oil, coal, natural gas, and resource commodities such as iron ore and copper concentrate, and commodities such as grain, and setting up bonded warehouses at major import sites in the central western and northeastern regions to carry out local processing trade. Support the Midwest and Northeast regions to build comprehensive bonded zones into demonstration zones to undertake the transfer of processing trade industries based on comprehensive bonded zone policy advantages.
Offer update:
Shanzheng Iron Ore (3047.HK) closed at HK$22.06, up 2.41%
Cumulative Return: 1 Week: 6.16% January: 8.14% March: 22.97% June: 40.06% Launch to Date: 196.11%
Status of the Hong Kong Resources Stock:
Despite the poor macroeconomic environment at home and abroad, investors were cautious about the US economic data before the release of the US economic data, but the southwest region is about to face a dry period, and the tight electricity consumption issue has raised market concerns about the supply of electrolytic aluminum. The production limit for electrolytic aluminum has been basically determined, and most manufacturers are stocking up at reasonable prices and are hesitant to sell. These factors have overshadowed the lopsided atmosphere in the market, leading to a strong upward trend in Shanghai Aluminum today, showing a “unique” trend.
Currently, the market's attention is beginning to focus on the two-day meeting of the Federal Reserve starting Tuesday. At the meeting, there is still some uncertainty about whether Federal Reserve Chairman Powell and his peers will raise interest rates again. This uncertainty continues to support the US dollar for the time being, and treasury bond yields remain high, thus limiting the room for gold to rise brought about by safe-haven transactions. $CHALCO.HK$ $ZHAOJIN MINING.HK$
Iron ore news:
Recently, the General Administration of Customs issued the “Implementation Plan of the General Administration of Customs on Promoting the Continuous and High-Quality Development and Reform of Processing Trade”, which mentions supporting the import of energy commodities such as crude oil, coal, natural gas, and resource commodities such as iron ore and copper concentrate, and commodities such as grain, and setting up bonded warehouses at major import sites in the central western and northeastern regions to carry out local processing trade. Support the Midwest and Northeast regions to build comprehensive bonded zones into demonstration zones to undertake the transfer of processing trade industries based on comprehensive bonded zone policy advantages.
Offer update:
Shanzheng Iron Ore (3047.HK) closed at HK$22.06, up 2.41%
Cumulative Return: 1 Week: 6.16% January: 8.14% March: 22.97% June: 40.06% Launch to Date: 196.11%
Status of the Hong Kong Resources Stock:
Despite the poor macroeconomic environment at home and abroad, investors were cautious about the US economic data before the release of the US economic data, but the southwest region is about to face a dry period, and the tight electricity consumption issue has raised market concerns about the supply of electrolytic aluminum. The production limit for electrolytic aluminum has been basically determined, and most manufacturers are stocking up at reasonable prices and are hesitant to sell. These factors have overshadowed the lopsided atmosphere in the market, leading to a strong upward trend in Shanghai Aluminum today, showing a “unique” trend.
Currently, the market's attention is beginning to focus on the two-day meeting of the Federal Reserve starting Tuesday. At the meeting, there is still some uncertainty about whether Federal Reserve Chairman Powell and his peers will raise interest rates again. This uncertainty continues to support the US dollar for the time being, and treasury bond yields remain high, thus limiting the room for gold to rise brought about by safe-haven transactions. $CHALCO.HK$ $ZHAOJIN MINING.HK$
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3047 is a team specializing in the research of commodities and smart beta. We like to exchange investment strategies.
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