SunSirs: London Tin and Shanghai Tin Had a Shock Trend at Night

On July 7, the BPI of the commodity price index was 748 points, an increase of 1 point from July 6 and a decrease of 26.59% from the highest point in the cycle of 1,019 (2012-04-10), a decrease of 13.33% from the lowest point of 660 on February 03, 2016. (Note: Period refers to 2011-12-01 to present).

The tin commodity index on July 7 was 71.64, which was the same as July 6, and it was 28.54% lower than the highest point in the cycle of 100.25 points (2011-09-05) and 67.15% higher than the lowest point of 42.86 points on December 09, 2015. (Note: Period refers to 2011-09-01 to present).

In late New York, the US dollar index closed 0.2% higher at 96.97; the offshore CNY fell 0.14% against the US dollar and USDCNH closed at 7.0229; Fed Vice Chairman Clarida: see some signs that the economy started to rebound in May and June; if it is necessary, the Fed can and will do more; if necessary, the Fed’s lending facilities will continue to be effective; the newly confirmed diagnosis of the US epidemic broke through 50,000 again overnight, and many regions announced that they would stop restarting the economy; the European Union's economic contraction rate was adjusted from 7.7% to 8.7%, of which the second quarter may contract by 13.5%; API crude oil inventories increased by 2.05 million barrels from the United States to July 3, expected to decrease by 3.4 million barrels, and the previous value decreased by 8.156 million barrels ; Crude oil market: crude oil (as of 3 a.m. Beijing time on July 8th) spot Brent closed at $43.545/barrel, up $0.12 from the previous trading day, or 0.28%. WTI closed at $40.7/barrel, down $0.03 from the previous trading day, or down 0.07%. Affected by this, most of the London metal market rose, London copper rose 0.86%, London aluminum flat, London zinc rose 0.73%, London nickel flat, London tin fell 0.7%, London lead rose 0.89%; Shanghai metal market was mixed, Shanghai copper rose 0.89%, Shanghai aluminum fell 0.85%, Shanghai zinc rose 0.03%, Shanghai lead rose 0.75%, Shanghai nickel fell 0.12%, Shanghai tin fell 0.24%, thread rose 1.49%, and stainless steel fell 0.52%.

The trend of LME tin: LME tin opened at $17,050/ton, the highest was US$17,165/ton, the lowest was $16,970/ton, closed at $16,980/ton, down by $120/ton, the turnover was 299 lots, and the holding volume was 16,732 lots, a decrease of 141 hand.

The trend of Shanghai tin: Shanghai's main tin contract for 2009 opened at 140,420 yuan/ton last night, with a maximum of 141,680 yuan/ton and a minimum of 140,340 yuan/ton, closing at 141,250 yuan/ton, up 120 yuan/ton.

The tight supply situation in the spot tin market has been partially alleviated, and prices have entered a stable range.

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