1. China’s inflation data in February was released, with CPI rising 0.9% year-on-year and 0.6% month on month; PPI rose 8.8% year-on-year and 0.5% month on month. The National Bureau of statistics pointed out that in February, due to the rise in the prices of international bulk commodities such as crude oil and non-ferrous metals, PPI changed from decline to rise month on month, and the year-on-year increase fell; Affected by the Spring Festival and the fluctuation of international energy prices, CPI rose slightly month on month, and the year-on-year increase was generally stable. In food, the price of pork decreased by 42.5% year-on-year, 0.9 percentage points higher than that in January.
2. A shares staged a “deep V” reversal on Wednesday. The East and West became the pioneer of rebound, and high-quality stocks rebounded at a low level. Kweichow Moutai Co.Ltd(600519) and Contemporary Amperex Technology Co.Limited(300750) closed up 1.48% and 3.96% respectively, with turnover exceeding 10 billion yuan. As of the close, the Shanghai Composite Index fell 1.13% to 325639 points, the Shenzhen composite index fell 1.12%, the gem index fell 0.63%, Kechuang 50 fell 0.65%, and wandequan a fell 1.12%. Statistics show that after five consecutive days of overcast on the daily line, the Shanghai stock index has a rebound probability of more than 80% in the next trading day. The turnover of the two cities reached 1.16 trillion on that day, breaking trillion for five consecutive days. The net sale of funds from northbound was 10.934 billion yuan, with Contemporary Amperex Technology Co.Limited(300750) being the first with a net sale of 929 million yuan and Nari Technology Co.Ltd(600406) being the most with a net purchase of 404 million yuan.
3. The supervision took action to cool the market. In the previous period, the trading of some nickel futures contracts was suspended for one day, and some non main contracts in Shanghai nickel fell by the limit at night. According to the previous period, the contracts of ni2204, ni2205, ni2206, ni2207, ni2209, ni2212 and ni2301 reached the daily limit for three consecutive days. At the closing, the margin of the contract remained at the rate of 19% and 17% of the settlement limit on March; From the night trading on March 9, the trading of relevant contracts was suspended for one day. The London Metal Exchange announced that after the closing on March 10, it would double the margin requirement for nickel trading to US $4808 / ton; Increase the initial margin of aluminum, zinc and copper by 8.3%, 7.1% and 4.4% respectively.
4. Zhejiang Huayou Cobalt Co.Ltd(603799) has fallen by the limit for two consecutive days. The company issued an announcement to clarify media reports that there have been ultra abnormal fluctuations in the nickel futures market recently. Up to now, the company has not been forced to close its positions, and the risk is controllable. There are rumors that Zhejiang Huayou Cobalt Co.Ltd(603799) and Qingshan holdings have a large number of accounts receivable. The staff of the company’s Securities Department responded that Zhejiang Huayou Cobalt Co.Ltd(603799) and Qingshan holdings have a joint venture, and the accounts receivable related to Qingshan holdings are being verified. It is reported that after the “closing event” of Qingshan holdings, the CBRC required banks to report overseas risk exposure. Qingshan group replaced China’s metal nickel sector with its high matte nickel, which has been allocated to sufficient spot for delivery through various channels.
