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SunSirs: London Tin and Shanghai Tin Went up at Night
June 09 2020 08:19:58SunSirs(Linda)

On June 7, the BPI of the Commodity Price Index was 743 points, which was the same as June 6, a decrease of 27.09% from the highest point in the cycle of 1,019 points (2012-04-10) and an increase of 12.58% from the lowest point of 660 points on February 03, 2016. (Note: The period refers to 2011-12-01 to present).

The tin commodity index on June 7 was 70.53, which was the same as June 6, a decrease of 29.65% from the highest point in the cycle of 100.25 points (2011-09-05), and an increase of 64.56% from the lowest point of 42.86 points on December 09, 2015. (Note: Period refers to 2011-09-01 to present).

The US dollar index rose 0.18% to 96.9309; the offshore RMB rose 0.54% against the US dollar, and USDCNH reported 7.0707; the non-agricultural employment population unexpectedly increased by 2.509 million after the May seasonal adjustment in the United States, which is expected to decrease by 8 million, and the previous value decreased by 20.537 million. The largest single-month job growth in U.S. history since 1939; news released by the Saudi Ministry of Energy shows that a video of the oil-producing countries' oil ministers held by the Saudi-led Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing countries represented by Russia At the meeting, an agreement was reached to extend the current crude oil production reduction of 9.7 million barrels per day to the end of July. At the same time, various countries will evaluate the crude oil market at the end of June to determine whether to further extend the production reduction agreement; Saudi Arabia’s first quarter oil export value fell by 21.9% year-on-year , To 40 billion US dollars, equivalent to a decline of about 11 billion US dollars. Affected by this, most London metal markets closed up last Friday, with London Copper up 2.43%, London Tin up 2.34%, London Nickel up 0.94%, London Aluminum up 1.75%, London Zinc down 0.37% and London Lead up 1.27%. The Chinese non-ferrous metal market was mixed, with Shanghai Tin up 1.5%, Shanghai Copper up 1.51%, Shanghai Zinc down 1.72%, Shanghai Aluminum up 0.91%, Shanghai Nickel up 0.46%, Shanghai Lead down 0.14%, stainless steel up 0.58%, thread Rose 0.36%.

The trend of LME tin: LME tin electronic disk opened at $16,050/ton last Friday, with a maximum of $16,680/ton and a minimum of $16,050/ton, closing at $16,400/ton, up $375/ton.

The trend of Shanghai tin: Shanghai Futures' main 2008 contract opened at 135,950 yuan/ton on Friday night, the highest was 137,240 yuan/ton, the lowest was 135,860 yuan/ton, and the closing price was 136,430 yuan/ton, up 1,730 yuan/ton.

Driven by rising prices in the futures market, prices in the spot market are expected to rise today.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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