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SunSirs: London Tin and Shanghai Tin Mainly Consolidation in the Night Market
September 16 2020 07:46:00SunSirs(Linda)

On September 14, the BPI of the Commodity Price Index was 782 points, an increase of 2 points from September 13, and a decrease of 23.26% from the cycle's highest point of 1,019 points (2012-04-10), and the lowest from February 03, 2016 660 points increased by 18.48%. (Note: Period refers to 2011-12-01 till now).

The Tin Commodity Index on September 14 was 73.58, an increase of 0.43 points from September 13, a decrease of 26.60% 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 71.68%. (Note: Period refers to 2011-09-01 to present).

Fundamentally, in late New York trading, the U.S. dollar index fell 0.21% to 93.586; offshore renminbi rose 0.35% to the U.S. dollar, and USDCNH reported 6.8085; statistics from the Bureau of Statistics showed that in August, the sales prices of newly built commercial residential buildings in first-tier, second-tier, and third-tier cities rose respectively from the previous month. 0.6%, 0.6%, 1.0%, up 3.9%, 5.0%, 4.5% year-on-year; Russian Ministry of Economic Development predicts that the economy will shrink by 3.9% in 2020, expected -4.8%; crude oil market: crude oil yesterday (as of September 15 Beijing time At 3 o'clock in the morning) Spot Brent closed at $38.395 per barrel, down $0.65 from the previous trading day, or 1.66%. WTI closed at US$37.56 per barrel, a decrease of US$0.09 or 0.24% from the previous trading day. Last night, LME’s outer metal was all online, LME copper rose 0.96%, LME aluminum rose 1.52%, LME zinc rose 0.34%, LME nickel rose 1.03%, LME tin rose 0.78%, LME lead rose 1.72%; domestic futures market prices rose, Shanghai Copper rose 0.23%, Shanghai aluminum rose 0.76%, Shanghai zinc rose 0.51%, Shanghai lead rose 1.07%, Shanghai nickel rose 0.95%, Shanghai tin fell 0.19%, thread rose 0.14%, and stainless steel rose 0.77%.

LME tin trend: LME tin tin closed overnight at $18,130/ton, up $140/ton.
Shanghai tin trend: The main Shanghai tin contract in the night trading closed at 143,800 yuan/ton, down 280 yuan/ton.

Recently, the downstream demand for tin is still limited. Today's futures market is mainly volatile, and market prices are temporarily stable.

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

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