SunSirs: Rising slightly in London Tin and Shanghai Tin at Night

On June 22, the commodity price index (BPI) was 747 points, unchanged from June 21, down 26.69% from 1,019 (2012-04-10), the highest point in the cycle, and up 13.18% from 660, the lowest point on February 3, 2016. (Note: cycle refers to 2011-12-01 to now).

On June 22, the tin commodity index was 71.19, up 0.17 points from June 21, down 28.99% from the highest point of 100.25 (2011-09-05), and up 66.10% from the lowest point of 42.86 on December 9, 2015. (Note: cycle refers to 2011-09-01 to now).

USD index fell 0.65% to 97.0517; offshore renminbi rose 0.27% against the US dollar, USDCNH reported 7.0581; Kudelo, US national economic adviser: there was no outbreak of second new wave of pneumonia in the United States, but there were some city with serious outbreaks; more measures to tackle the outbreak of new crown pneumonia will be put into effect by local governments, and second national blockades are not expected. Novel coronavirus pneumonia (CIC) announced monthly crude oil market report, which will maintain the same forecast for crude oil demand this year. However, due to the continuing economic impact of the new crown pneumonia epidemic, crude demand is expected to remain under pressure in the second half of this year. OPEC has maintained a forecast of global crude oil demand this year, and projected global oil demand by 9 million 70 thousand barrels per day in 2020. Affected by this, LME metal market mostly closed higher, with London copper up 1.46%, London aluminum up 0.95%, London zinc up 0.68%, London nickel down 0.86%, London tin up 0.18%, lunpb down 0.39%; domestic night market, Shanghai copper up 0.44%, Shanghai aluminum up 0.96%, Shanghai zinc up 0.68%, Shanghai lead down 0.41%, Shanghai nickel down 0.93%, Shanghai tin up 0.31%, screw down 0.72%, stainless steel down 0.15%.

London tin trend: LME Tin opened at US $16,920 / ton, with a maximum of US $16,920 / ton and a minimum of US $16,785 / ton, and closed at US $16,915 / ton, up 30 US dollars / ton. Yesterday's stock was 3,005 tons, an increase of 70 tons over the previous day.

Shanghai tin trend: the main contract of Shanghai tin 2008 opened at 137,540 yuan / ton yesterday night, with a maximum of 138,220 yuan / ton and a minimum of 136,750 yuan / ton. It closed at 138,220 yuan / ton, up 1,210 yuan / ton, up 0.88%.

The domestic supply shortage has been alleviated, the market supply and demand are becoming more and more stable, the main production area of Guangxi is gradually put into production, the supply is stable, and the price is expected to be consolidated.

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