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Tin review: supply worries tin the rally

by:Deyuan      2020-12-23
【 Abstract 】 Dollar dropped to boost basic metals prices, overnight tin rose 1. 43% return to 18-month high, for fear of Chinese smelters to shut down may lead to supply shortages, tin strong, if this tin up now.

【 The futures market 】 Released late on Tuesday, the United States in the second quarter non-farm productivity initial value for the third consecutive quarter of decline, the federal reserve to raise interest rates expected is restrained, the dollar fell to boost basic metals prices, Aaron tin opened lower after all the way higher, late rose $260 closed at $18415, up to 1. 43%, to return to the 18-month high; Volume 443, 19333 holdings of an increase of 103 hands. Shanghai tin on main 1609 contract today opening price 122570 yuan rise 930 yuan, 9:10 1609 contracts the latest quotation for 124420 up to 2780 yuan; Shortage of supply concerns supported tin, tin material today Shanghai maintain strong.

London metal exchange ( LME) 9, tin the latest inventory of 5060 metric tons, the previous trading day inventory to reduce 210 metric tons.

( sn. ) Expect: tin inventory down significantly, and the latest stock is 5060 metric tons, only low in more than three and a half months; Indonesia falling exports and worries about the Chinese smelters to shut down may lead to supply shortages continue to heat up, strong, short-term tin prices boost performance is expected to spot tin rise further today.
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