Chapter 201 Nonferrous Resources Continue to Soar
Friday, March 15, 2024.
Early in the morning, news from all sides came in.
The U.S. PPI data exceeded expectations again, rising 1.6% year-on-year, far exceeding expectations and setting a six-month high since September last year.
Affected by this, U.S. stocks closed lower, and prices of various non-ferrous metals fell in the LME futures night session. However, crude oil rose against the trend against the backdrop of OPEC's regulation.
WTI crude oil prices have surpassed the $81 mark, setting a new five-month high.
At 9:30, the two markets opened slightly higher at 3041 points, but then began to adjust, with the index declining step by step and slowly falling to 3023 points.
Non-ferrous metal stocks performed well yesterday and showed relatively strong performance.
At 10:40, I got some news that was so exciting.
LME copper rose another 1%, just one step away from $9,000, setting a new high in two years. Shanghai copper also reached 72,600 yuan, a two-year high, and other non-ferrous metal prices followed closely behind.
Non-ferrous metal stocks have started to soar wildly again.
Tongling Nonferrous Metals, the previous leading benchmark stock, rose directly from around -1.58% to a sharp increase of 5.28% in the afternoon. Luoyang Molybdenum Co., Ltd., which saw a double increase in both volume and price, followed closely behind, jumping from 7.18 yuan to 7.48 yuan, a further increase of 4.03%!
The previous leading stocks Zijin Mining and Western Mining lagged behind, rising by just over 1.50%...
In addition, Jiangxi Copper, Zhuye Group, Xinye Shares, and Tin Industry Shares followed closely behind and surged...
It is obvious that the hot spots have begun to spread, rotating from large-cap stocks to small-cap stocks.
Leading stocks Zijin Mining and Western Mining have opened up space, and the hot spots have spread to other non-ferrous metals.
Oil and coal stocks fell sharply.
At the close of the morning, coal stocks that had seen astonishing gains in the previous period, such as Shaanxi Coal Industry, Pingmei Group, and Lanhua Science and Technology, all fell by more than -3%. CNOOC fell by -2.52%, and basically retreated by 10% in just one week.
China Shipbuilding and China Heavy Industry in the shipbuilding sector fell by less than one point, adjusting 8 points from their highest point within a week.
Real estate, AI and other industries also saw the largest declines.
Overall, the ChiNext and Science and Technology Innovation Board led the decline, and the Shanghai Composite Index fell slightly by 5 points to close at 3032.84 points, down 0.18%.
Treasury futures rose overall.
In just a few days, the stock market has undergone tremendous changes.
Coal began to adjust and nonferrous metals took over.
The hundreds of thousands of yuan that Xiao Bo invested in the stock market increased by tens of thousands of yuan, or more than ten percentage points, in just over a week.
The key point is that this is based on the fact that the overall Shanghai Composite Index has basically not seen much increase.
If the Shanghai Composite Index reaches a new high in the future, he doesn't believe that he can still hold on to his stocks if they soar again.
"Li Feng, are you free this afternoon?..."
Xiao Bo dialed Li Feng's number. His heart was pounding wildly and he could hardly control it.
Because, in the past few days, non-ferrous metal stocks have been too crazy, without any adjustment, they have been rising continuously.
In other words, all adjustments are completed during the trading session.
He couldn't imagine what force was causing such a storm in this ordinary downturn when many people were still shrouded in bear market mentality.
This fear of facing the unknown made him want to lock in his gains.
However, he clearly knew that the logic of the non-ferrous metals sector had just begun, but he could not control his hands.
Is it a cognitive problem?
Or is it a mentality problem?
Or is it some other problem?
He was feeling nervous and uncertain, so he had to visit Li Feng to discuss the next market situation and what to do.
"available."
Li Feng put down the book "No Need to Mention Greece" in his hand and looked out the window.
The solar terms are unforgiving.
Not long after the Waking of Insects, all things on earth began to revive, and the winter jasmine in the community flower beds were already quietly blooming.
The creations of nature and the wisdom of the ancients are unfathomable.
"Hey, I just got a box of good tea. Let's taste it this afternoon. It's a 20-year-old premium Pu'er from Yunnan..." Xiao Bo continued, but just as he finished speaking, his fellow stockholder Lao Chen came over.
Old Chen secretly tugged at his clothes and wanted to go too.
Xiao Bo glanced at him and added:
"Well, um, Li Feng, I have a friend, uh, not a stranger, so let's just go with the three of us, hey, hey, hey, hey..."
"Well, I happen to have nothing to do in the afternoon, so let's go to Jingu Building. I have renovated it again. Let's go there at two o'clock in the afternoon." Li Feng put down the book and said.
When the stock price is rising, it is the most boring time. It would be best to have someone to chat and drink tea with.
"Okay." Xiao Bo put down the phone and looked at the time - it was just 12 o'clock.
Old Chen was eager to get the shares, so he hurriedly urged, "There are still two hours left, let's hurry up and go. I'll treat you at noon today. Come on, let's go to Gu Liantian downstairs."
Having said that, he pulled Xiao Bo downstairs.
Gu Liantian is a fast food restaurant that sells steamed buns and also sells stir-fried dishes.
Old Chen was anxious, so he simply pulled Xiao Bo along and ordered six buns, two stir-fried dishes, and two bowls of porridge. After eating until he was half full, he headed towards Jingu Building.
After the two arrived and just opened the door, they saw Li Feng sitting by the tea table, reading a book - "Light Comes from China".
"Li Feng, why are you so idle? Instead of watching the market, you're reading a book..." Xiao Bo said with a smile. He put down the Pu'er tea in his hand, sat down at the tea table, and continued, "This seems to be a history book. Can reading this kind of book help with stock trading?"
"Of course it is useful, very useful." Li Feng said.
"Really? What do you mean?" Xiao Bo didn't care.
As he opened the Pu'er tea, he greeted Lao Chen and explained, "Here, a friend of mine, Lao Chen, just happened to come over for tea and a chat."
"We are all friends, we are all friends, sit down and chat for a while." Li Feng greeted them and started chatting.
The three of them were chatting, the tea was brewed, and Li Feng started talking.
"Xiao Bo, do you think there is room for reconciliation in Sino-US relations now?" Li Feng asked abruptly.
"Sino-US relations?" Xiao Bo pondered.
"Li Feng, what are you talking about? This topic is a bit broad. I've read many experts' opinions. Some say that there can't be two tigers in one mountain. If two tigers fight, one will inevitably be injured. There will definitely be a fight to see who is stronger. Others say that after a period of time, the two countries will reconcile. After all, no one can resist money..."
Old Chen was standing aside, drinking tea and muttering to himself, wondering how we had agreed to have tea and discuss stocks, and how the conversation ended up turning to international relations.
Although he was very anxious, he still took a sip of tea and forced himself to endure it.
He knew that he couldn't eat hot tofu in his heart.
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Fellow stockholders, please use your hands to make money and send one to your lover for free.
Your support is my motivation to update.
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