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Tin review: poor demand from China tin limited upside

by:Deyuan      2020-12-23
【 Abstract 】 The dollar index was higher on Friday to crack down on basic metals prices, tin low consolidation down $115; China's weak economic data has been industrial metals demand outlook darkened, tin today Shanghai consolidation is given priority to, is now tin co. , LTD.

【 The futures market 】 Rebound in September as U. S. retail sales and sales growth reflects the domestic demand is steady, reinforced expectations the fed will raise interest rates in December, the dollar index higher weigh on prices, every Zhou Lunxi maintain weak, closing down $115, the latest closing price at $19435, in more than three weeks to low; Volume 226 hand cut 197 hand, increased holdings 20307 47 hand. Today Shanghai tin opened on main 1701 contract fell 126980 yuan, 530 yuan; 9:30 p. m. the latest price down to 127400 yuan, 110 yuan; Short-term Shanghai tin or consolidation is given priority to.

London metal exchange ( LME) 14, tin the latest inventory of 3320 metric tons, the previous trading day inventory to reduce 50 metric tons.

( sn. ) Expected: a weak Chinese trade data released last week sparked concern about China's industrial metals demand outlook, short-term movements of the Shanghai tin careful, today or consolidation is given priority to, is expected to spot tin went sideways.
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