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SunSirs: London Tin Fell Slightly in Night Trading, Shanghai Tin Closed up

April 01 2021 10:28:47     SunSirs (Linda)

The non-ferrous index was 1005 points on March 31, which was 6.07% lower than the highest point in the cycle of 1070 points (2021-02-25), and 65.57% higher than the lowest point of 607 points on November 24, 2015. (Note: Period refers to 2011-12-01 till now).

According to data from the National Bureau of Statistics, in March, China's Manufacturing Purchasing Managers Index (PMI) was 51.9%, 1.3 percentage points higher than the previous month, and the manufacturing industry rebounded. Among the 21 industries surveyed, the PMI of 17 industries is above the line of prosperity and decline, and the economic outlook has expanded from the previous month; US President Biden announced a $2 trillion infrastructure plan, which lasts for 8 years and aims to rebuild The aging infrastructure promotes the development of electric vehicles and clean energy. Supported by two good news, most of the metal market rose last night. Crude oil prices: Spot Brent closed at $63.745 per barrel at 3 am on April 1, Beijing time, up $0.21 or 0.33% from the previous trading day. WTI closed at 59.18 US dollars per barrel, down 1.38 US dollars from the previous trading day, or 2.28%.

The Tin Commodity Index on March 31 was 88.33, a decrease of 11.98% from the highest point in the cycle of 100.35 points (2021-02-25), and an increase of 106.09% from the lowest point of 42.86 points on December 9, 2015. (Note: Period refers to 2011-09-01 to present).

London tin trend: LME tin fell 15 US dollars / ton overnight, reported at 25,225 US dollars / ton.

Shanghai tin trend: The main domestic night trading 2105 contract opened at 173800 yuan/ton, the highest was 175690 yuan/ton, and closed up 1830 yuan/ton, an increase of 1.05%, and 16069 lots were sold.

At present, both supply and demand in the market are weak, and the tight supply side has certain support for tin prices. Under the situation of both supply and demand, the market outlook is expected to fluctuate and weaken.

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