SunSirs: London Tin and Shanghai Tin Have a Consolidation Trend at Night

The BPI of the commodity price index on July 15 was 752 points, which was the same as July 14 and was 26.20% lower than the highest point in the cycle of 1,019 points (2012-04-10) and 660 points higher than the lowest point on February 03, 2016. It rose by 13.94%. (Note: Period refers to 2011-12-01 to present).

The tin commodity index on July 15 was 72.08, a decrease of 0.35 points from July 14 and a decrease of 28.10% from the highest point in the cycle of 100.25 points (2011-09-05), which was 42.86 points from the lowest point of December 09, 2015 , an increase of 68.18%. (Note: Period refers to 2011-09-01 to present).

Fundamentals in New York, the US dollar index fell 0.21% to 96.0376; the offshore RMB rose 0.41% against the US dollar, and USDCNH reported 6.9823; the Federal Reserve's Beige Book report showed that consumer activities began to recover due to the lifting of the embargo by many states, and the US economy was at 7 A recovery sprout appeared at the beginning of the month, but the outlook remains highly uncertain; the monthly rate of industrial output in June in the United States: 5.4%; expectation: 4.3% ; previous value: 1.4%; three departments including the Ministry of Industry and Information Technology: organizing new energy vehicles to go to the countryside; OPEC The Joint Ministerial Supervisory Committee JMMC held a meeting, and each member country reviewed the OPEC monthly report released previously , discussed the global crude oil market situation since the June 18 meeting, and analyzed the energy demand prospects in the second half of the year, and finally decided to let the exist ing The production reduction agreement entered the second phase. That is, from July 2020 to the end of the year, the scale of production reduction was reduced to 7.7 million barrels/day, and the third stage from January 2021 to April 2022, the scale of production reduction was 5.8 million barrels/day. At the OPEC plenary meeting in June, member states unanimously agreed to extend the first phase of the agreement for one month. Crude oil market: As of July 16, Beijing time, the current Brent closed at $44.285/barrel, up $0.615 from the previous trading day, or an increase of 1.41%. WTI closed at US$41.4/barrel, up US$0.85 or 2.1% from the previous trading day. Affected by this, London's nonferrous metals were mixed, and as of the close, London copper fell 1.62%, London aluminum fell -0.24%, London zinc rose 0.41%, London nickel fell 0.48%, London tin rose 0.06%, London lead rose 0.14%; The domestic market closed down across the board, with Shanghai copper dropping the most, at 2.25%, S hanghai Aluminum down 1.24%, Shanghai Zinc down 0.61%, Shanghai Lead down 1.69%, Shanghai Nickel down 0.66%, Shanghai Tin down 0.88%, and Screw down 0.29%, Stainless steel fell 1.03%.

London tin trend: LME's highest price is 17,390 US dollars per ton, the lowest is 17,195 US dollars per ton, and the closing price is 17,295 US dollars per ton, up 10 US dollars, or 0.06%.
Shanghai tin trend: Shanghai futures tin main contract 09, the lowest 140,250 yuan / ton, the latest reported 141,140 yuan / ton, down 1,260 yuan / ton, a decrease of 0.88%.

Recently, the supply and demand of the tin market are weak, and the output of upstream tin mines is low. It is under control. The downstream demand is general. Some refineries have stopped production. The recent price is greatly affected by the futures market.

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