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SunSirs: London Tin and Shanghai Tin Prices Rose in the Night Market

December 25 2020 08:58:27     SunSirs (Linda)

On December 23, the commodity price index BPI was 892 points, a decrease of 4 points from December 22, a decrease of 12.46% from the highest point in the cycle of 1019 points (2012-04-10), and the lowest from February 03, 2016 660 points increased by 35.15%. (Note: Period refers to 2011-12-01 till now).

The Tin Commodity Index on December 23 was 76.43, a decrease of 0.55 points from December 22, a decrease of 23.76% from the highest point in the cycle of 100.25 points (2011-09-05), and a decrease of 23.76% from the lowest point of 42.86 points on December 9, 2015. An increase of 78.32%. (Note: Period refers to 2011-09-01 to present).

In late New York trading, the U.S. dollar index rose 0.61% to 90.63, rising for three consecutive days, setting a new one-week high; offshore renminbi fell 0.1% against the U.S. dollar, and USDCNH reported 6.5410; the number of initial jobless claims in the United States until December 19 was 80.3 10,000 people, the first decline in three weeks, and is expected to be 885,000; U.S. durable goods orders in November increased by 0.9% month-on-month, an increase far better than expected; durable goods orders excluding transportation increased by 0.4% month-on-month, which was less than expected; Orders for non-defense capital materials excluding aircraft increased by 0.4% month-on-month, and the increase was also less than expected; data released by the Japan Work Machinery Industry Association showed that Japan’s November machine tool orders increased by 8.6% year-on-year to 88.6 billion yen. It exceeded US$85 billion for the first time since December 2019, and finally returned to the level before the spread of the new crown epidemic; crude oil prices: as of 3 am on December 24, Beijing time, spot Brent closed at US$51.27/barrel, up from the previous trading day US$0.975, an increase of 1.94%. WTI closed at $48.12/barrel, up $1.1 from the previous trading day, or 2.34%. Affected by this, the outer metal market rose across the board yesterday, with London Copper up 1.3%, London Zinc up 1.8%, London Aluminum up 0.4%, London Nickel up 1.45%, London Tin up 0.2%, and London Lead up 0.64%. In the domestic futures market, international copper and Shanghai copper rose 1.13%, Shanghai aluminum rose 0.8%, Shanghai lead rose 1.67%, Shanghai nickel rose 0.8%, Shanghai zinc rose 0.63%, and Shanghai tin rose 0.54%.

London tin trend: LME tin last night rose 95 US dollars / ton, reported at 20,040 US dollars / ton.

Shanghai tin trend: Shanghai tin main contract rose 880 yuan/ton to 151340 yuan/ton; Shanghai tin recent month contract rose 1270 yuan/ton to 150,900 yuan/ton.

The mine supply is still tight, and the domestic mine output has been low. This year, the import performance is not satisfactory. The shortage of domestic raw materials has not been greatly eased, but downstream demand continues to be weak, and procurement is mostly based on demand. Dragging down the spot market trend, today's futures market is booming, and the domestic spot market is boosted by the price rebound.

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