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SunSirs: London Tin and Shanghai Tin Fell in Night Trading
September 10 2020 07:58:48SunSirs(Linda)

The BPI of the Commodity Price Index on September 8 was 781 points, an increase of 1 point from September 7, a decrease of 23.36% from the highest point in the period of 1,019 points (2012-04-10), and the lowest from February 03, 2016 660 points increased by 18.33%. (Note: Period refers to 2011-12-01 till now).

SunSirs data monitors the BPI index curve of the commodity price index as follows:

The Tin Commodity Index on September 8 was 74.92, an increase of 0.47 points from September 7, a decrease of 25.27% 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 74.80%. (Note: Period refers to 2011-09-01 to present).

Fundamentally, in late New York trading, the U.S. dollar index rose 0.46% to 93.5006, rising for six consecutive days; offshore renminbi fell 0.3% against the U.S. dollar, and USDCNH reported 6.8537; on September 8 (Tuesday), U.S. stocks plunged again, falling for three consecutive days. The Dow closed down more than 630 points, the Nasdaq fell more than 4%, and the S&P 500 index fell nearly 3%. National leaders said that they must firmly grasp the strategic basis of expanding domestic demand, protect and stimulate the vitality of market players, and ensure that macro policies are effective. , To improve the stability and competitiveness of the supply chain of the industrial chain; crude oil market: yesterday's crude oil (as of September 9th, 3 a.m. Beijing time) spot Brent closed at $38.505/barrel, down $1.995 from the previous trading day, or 4.93% . WTI closed at 37.19 US dollars per barrel, down 2.96 US dollars from the previous trading day, or 7.37%. Yesterday, the LME outer metal fell collectively. LME copper fell 1.2%, LME aluminum fell 0.14%, LME zinc fell 3.45%, LME nickel fell 1.78%, LME tin fell 1.15%, and LME lead fell 2.89%; the domestic market fell across the board, Shanghai copper Shanghai aluminum fell 0.28%, Shanghai zinc fell 2.54%, Shanghai lead fell 1.5%, Shanghai nickel fell 1.7%, Shanghai tin fell 1.6%, thread fell 0.48%, and stainless steel fell 2.16%.

LME tin trend: LME tin closed overnight at 18,070 US dollars/ton, down 210 US dollars/ton, or 1.15%.

Shanghai tin trend: the main 11 contract of Shanghai tin in the night trading closed at 144,940 yuan/ton, down 2390 yuan/ton, or 1.62%.

In the near future, the market is mainly based on on-demand purchases, with average transactions and average downstream demand. It is expected that today's spot tin prices will decline slightly.

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