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SunSirs: London Tin and Shanghai Tin Shock at Night
August 12 2020 08:43:01SunSirs(Linda)

On August 10, the BPI of the Commodity Price Index was 763 points, a decrease of 2 points from August 9, and a decrease of 25.12% from the highest point in the cycle at 1,019 points (2012-04-10), and the lowest from February 03, 2016 Points, 660 points, an increase of 15.61%. (Note: Period refers to 2011-12-01 to present).

The Tin Commodity Index on August 10 was 73.77, a decrease of 1.09 points from August 9, a decrease of 26.41% from the highest point in the cycle of 100.25 points (2011-09-05), and a decrease of 42.86 points from the lowest point on December 9, 2015. An increase of 72.12%. (Note: Period refers to 2011-09-01 to present).

Fundamentally, the U.S. dollar index rose 0.22% to 93.62 at the end of the New York market; offshore renminbi rose 0.1% to the U.S. dollar, and USDCNH reported 6.9607; China’s July CPI rose 2.7% year-on-year, expected to rise 2.6%, and the previous value rose 2.5%; The monthly PPI fell 2.4% year-on-year, expected to drop 2.4%, and the previous value fell 3%; the New York Fed survey showed that after two months of improvement, US consumers became more pessimistic in July; the median inflation expectations for the next three years From 2.5% in June to 2.7%; in August the euro zone investor confidence index improved to negative 13.4 from negative 18.2 in July; crude oil: crude oil yesterday (as of 3 a.m. Beijing time on August 11) Brent closed at US$44.485/barrel, up US$0.225 or 0.51% from the previous trading day. WTI closed at $42.17 per barrel, up $0.68 from the previous trading day, or 1.64%. Affected by this, the LME metal market went up and down mixed last night, LME copper rose 2.63%, LME aluminum rose 1.34%, LME tin rose 0.23%, LME zinc fell 0.31%, LME lead fell 0.73%, LME nickel fell 1.04%, and domestic night trading Shanghai Aluminum fell 1.11%, Shanghai Lead fell 0.34%, Shanghai Tin fell 0.23%, Shanghai Nickel fell 0.1%, Shanghai Zinc rose 0.03%, and Shanghai Copper rose 0.85%.

London tin trend: LME tin opened at US$17,750/ton last night and closed at US$17,790/ton, up US$40/ton, or 0.23%.

Shanghai tin trend: The main contract of Shanghai tin night trading, opening 145770 yuan/ton, closing 145440 yuan/ton, down 330 yuan/ton, or 023%.

The upstream tin concentrate supply is still tight. With the resumption of production and supply of Yinman Mining, the downstream demand is general, and the market outlook is expected to fluctuate mainly.

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