SunSirs: News of Nonferrous Metals, SND and SN Went Higher at Night

On November 20, the Tin Commodity Index was 69.16, 0.28 higher than that of yesterday, 31.01% lower than the peak of 100.25 in the cycle (Sep 5, 2011), and 61.36% higher than the lowest point of 42.86 (Dec 9, 2015). (Cycle: Sep 1, 2011 to date)

The U.S. dollar fell after a slight upward trend on November 20, with the index closing at 97.905, increasing 0.06%; the Federal Reserve cut interest rates at its October meeting and decided to suspend the easing cycle. Many members at the meeting thought that the downside risk of the economic outlook was very high, further highlighting in the reasons for the interest rate cut at this meeting. Most of the members at the meeting believed that after the interest rate cut of 25 basis points at this meeting, the policy position will be adjusted to a moderate state to support the economic prospect of moderate economic growth, strong employment market and inflation close to the 2% symmetric target of the Federal Reserve. At the end of the meeting, Fed chairman Powell hinted that the Fed was actually keeping interest rates unchanged and said it would not change this policy position unless there was a ‘substantial’ change in the US economic outlook. Crude oil: oil prices rose sharply, US oil rose 3.65% to $57.37 a barrel, setting a new high of the recent two days, the largest increase since January 1, as US crude oil inventory fell by the largest amount since recent months. Affected by these, metals in LME almost decreased, NID decreased nearly 2%, ZSD decreased nearly 1.5%, CAD and PBD decreased nearly 0.4%, AHD and SND increased nearly 0.4. Domestic metal market increased and decreased by half, NI decreased nearly 0.8%, ZN and SS decreased nearly 0.6%, RB and PB decreased nearly0.2%, CU increased slightly, SN increased nearly 0.4%, AL increased nearly 0.8%.

SND trend: Last night, the opening price of SND’s electronic dwask was $16,010 per ton, the highest one was $16,175 per ton, the lowest one was $15,870 per ton, the closing price was $16,020 per ton, the price increased $70 per ton. The volume was 383 lots all day; Open interest was 16,894 lots, decreasing 546 lots. The inventory was 6,545 tons, decreasing 100 tons.

SN trend: Last night, the opening price of SN2001 was 135,010RMB/ton, the highest one was 135,650RMB/ton, the lowest one was 134,860RMB/ton, the closing price was 135,330RMB/ton, the price increased 330RMB/ton. The volume was 8,286 lots, the open interest was 33,398 lots, decreasing 310 lots.

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