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SunSirs: Shanghai Tin Close up 2% on September 16
September 17 2021 08:44:12SunSirs(Linda)

On September 16, the mainstream quotation of 1# tin ingot in the domestic spot tin market ranged from 263,500 to 265,500 yuan/ton, with an average price of 264,500 yuan/ton, an increase of 6,500 yuan/ton from the previous trading day.

The U.S. dollar index fell on Wednesday night, and the night metal futures were boosted by most of the gains. Lunxi rose 0.76%, and Shanghai Tin rose 2.35%. In the morning, the market continued its night-time trend and Shanghai and tin opened higher. As of the 16th, the settlement price of Shanghai and tin was 258,700 yuan/ton, closing up 2%.

In the spot market today, the fear of heights is heavier, the supply of goods is small, and the market inquiries are deserted. The downstream is about to enter the traditional peak season, but the demand may not be strong this year. In the market outlook, the business community believes that downstream demand still exists, and tin prices fluctuate strongly in the short term.

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