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SunSirs: London Tin and Shanghai Tin Went Higher at Night
September 04 2020 08:11:27SunSirs(Linda)

On September 2, the BPI of the Commodity Price Index was 776 points, an increase of 2 points from September 1, and a decrease of 23.85% from the highest point in the cycle at 1,019 points (2012-04-10), and the lowest from February 03, 2016 660 points increased by 17.58%. (Note: Period refers to 2011-12-01 till now).

 The Tin Commodity Index on September 2 was 74.01, an increase of 0.21 points from September 1, a decrease of 26.17% from the cycle high of 100.25 (2011-09-05), and a decrease of 26.17% from the lowest point of 42.86 on December 9, 2015. An increase of 72.68%. (Note: Period refers to 2011-09-01 to present).

In late New York trading, the U.S. dollar index rose 0.16% to 92.3231; the offshore renminbi rose 110 basis points to 6.8369 against the U.S. dollar; ADP employment in the United States increased by 428,000 in August, the third largest increase on record, but it is still not as fast The market expects 950,000 people; the U.S. Department of Labor’s forecast shows that from 2019 to 2029, the growth rate of U.S. employment will be significantly slower than that from 2009 to 2019. At the same time, the average annual growth rate of real gross domestic product (GDP) will also increase. Slow; Crude Oil Market: Yesterday's crude oil (as of 3 a.m. Beijing time on September 3) spot Brent closed at $43.035/barrel, down $1.27 or 2.87% from the previous trading day. WTI closed at $41.85/barrel, down $1.23 from the previous trading day, or 2.86%. The prices of metals in the external disk were mixed. Nickel rose 1.1%, tin rose 1%, copper rose 0.07%, zinc fell 1.2%, aluminum fell 1.5%, lead fell 1.97%, and the domestic futures market fell more and less. Shanghai aluminum fell 0.9%, Shanghai lead fell 0.8%, Shanghai zinc fell 0.7%, Shanghai copper fell 0.6%, Shanghai nickel rose 0.3%, and Shanghai tin rose 0.8%.

London tin trend: LME tin closed at 18,340 US dollars/ton last night, up 190 US dollars/ton.
Shanghai tin trend: The main Shanghai tin contract in the night trading closed at 147,190 yuan/ton, up 1,170 yuan/ton, and the near-month contract closed at 146780 yuan/ton, up 1,050 yuan/ton.

The downstream consumer industry has not improved recently. The Shanghai Futures Exchange's inventory has continued to rise since August, with an increase of about 10%. The tight supply of mines will not improve significantly before October. Last night, Lunxi broke the high level within a year. It is expected that the spot market today Price increased.

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