SunSirs: China's Tin Market Went up after Shock (May.25-29)

1. Price trend

The tin commodity index on May 29 was 70.25, an increase of 0.2 points from May 28, a decrease of 29.93% from the highest point in the cycle of 100.25 points (2011-09-05), and an increase of 63.91% from the lowest point of 42.86 on December 09, 2015. (Note: Period refers to 2011-09-01 to present).

2. Market trend analysis

In terms of futures, LME tin overall fluctuated upwards that week, but the increase was limited. On the 25th, it was dragged down by the market last week, and the price weakened slightly. As of Friday, the price rose 0.98% this week, with a volume of 584 hands and a position holding of 16,931 hands, an increase of 21 hands. The Shanghai Futures 2007 contract fluctuated upwards this week, and closed Friday at 134,420 yuan/ton, up 3,940 yuan/ton, an increase of about 3%.

The Chinese spot market followed the Shanghai futures tin market fluctuations this week. After the opening of the week, the spot market weakened slightly due to the decline of Lunxi. Afterwards, the Shanghai Shanghai tin price increased the domestic spot market slightly, but it was limited by downstream demand. Relatively quiet, the spot market prices followed a small increase, with a weekly increase of only 0.38%. In terms of premiums and discounts, this week was relatively stable, maintaining around 3,000-5,000 yuan/ton.

According to SunSirs price monitoring, in the 21st week of 2020 (5.25-5.29), the commodity price rises and falls in the colored plate of the chain, a total of 7 kinds of products, the top 3 commodities were silver (1.70%) and aluminum (1.56%) , Praseodymium neodymium oxide (0.93%). There are five kinds of commodities that fell sequentially, and the top three products that fell were zinc (-0.65%), lead (-0.26%), and nickel (-0.21%). This week's average increase or decrease was 0.22%.

SunSirs predicts that the favorable impact of the policy development brought about by the two conferences next week will further affect the metal market. Various domestic industries will gradually get on track and start to gradually improve. The overall market environment is better, but the recent downstream demand has not yet recovered. The market is mainly stable and fluctuates slightly.

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