SunSirs: LME Tin Rose at Night
February 07 2020 14:18:07 SunSirs (Linda)
On February 6, the tin commodity index was 70.62, unchanged from yesterday, down 29.56% from the highest point in the cycle, 100.25 (September 5, 2011), and up 64.77% from the lowest point, 42.86 on December 9, 2015. (Note: cycle refers to September 1, 2011 to now).
On February 6, the Tariff Commission of the State Council issued a notice that since 13:01 on February 14, 2020, for the goods that have been subject to 10% tariff since September 1, 2019, the additional tax rate will be adjusted to 5%; for the goods that have been subject to 5% tariff, the additional tax rate will be adjusted to 2.5%; for crude oil, Brent closed at US $55.15, down 0.77%; and WTI closed at US $51.1, down 0.16%. Affected by this, most metals in LME rose, with copper up 0.37%, aluminum up 0.9%, zinc down 0.38%, nickel down 0.83%, tin up 1.12%, lead up 1.15%; night trading was suspended in Chinese domestic market.
Trend of LME tin: the electronic disk of LME tin opened yesterday at $16,535/ton, with a maximum of $16,725/ton, a minimum of $16,480/ton, closing at $16,695/ton, up $185/ton. 273 transactions were completed in the whole day; 19,035 positions were held, 147 fewer. The inventory is 6,540 tons, a decrease of 165 tons compared with the previous period.
Trend of Shanghai tin: Night trading is suspended in the domestic market.
The curve of tin commodity price index monitored by the data of SunSirs is as follows:
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