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Tin weekly review: supply support, tin as a whole is still good, 8. 15 - 8. 19)

by:Deyuan      2020-12-23
Period of tin week review

figure 1: Shanghai period tin day K line trend diagram
Shanghai period tin trend overall fell this week, weekly decline 1 at the moment. 68%, fell 2090 yuan/ton last week. Week China released data not as good as expected, the market demand for China's concerns, Shanghai period tin long profit underweight the disk center of gravity down, dropped to 12. Near 180000, then influenced by buy on dips disk, disk rebounded to 12. In 30000. Due to the above confined heavier, losses continue to open on Thursday, Shanghai tin has dropped to a minimum 12. 070000, although the late rebound trend exists, but not by much, tangle movements in 12. 20000. Period for now Shanghai tin since last week hit a high of 125950 yuan/ton, long profit withdrawals, Shanghai period tin upward momentum, short-term trend down risk, but given the strong support and price below the strong factors, the correction time not too long, next week ended higher after initially falling probability is bigger, shock interval temporarily look: Aaron, tin - 18100 $18500 / ton, Shanghai tin 120000 - 124500 yuan/ton.
the spot price rise before they fall
week period for Shanghai tin long profit underweight in disk falls, the drag on the domestic spot price to drop 750 yuan, but losses are fleeting, then Shanghai period tin affected by buy on dips plate disk rebounded to 12. Near 30000, boost spot prices recovered early decline gradually, the price rose to 123500 - 125000 yuan/ton. However losses struck again on Thursday, Shanghai tin fell to 12 again. Near 070000, futures, spot prices is gradually to fall, as of Friday, the domestic spot price has completely fall back to the 122500 - week 124000 yuan/ton. This week, the market price rise and fall repeatedly, and affected by traders want high premium shipment on spot price movements are difficult to predict, part of the downstream businesses fear prices continue to rise and market procurement, also have a rational businessman still just need to purchase and eliminate interference on the sidelines. There is still no news from smelters to mass production, so the market supply of goods are still in short supply state, in the supplier face tin constitute a certain support, are important factors that lead to resistance spot price fell, therefore in the medium term spot tin ingot prices remains strong, and influenced by Shanghai period tin still has to fall, is expected to next week, spot prices ended higher after initially falling probability interval to see 121000 - 124500 yuan/ton. Downstream of the shortage of merchants can undertake procurement early next week.
tin or repeated impact less raw material price
half weeks due to the domestic spot prices fell after the rise, the domestic price of tin ore concentrate and slightly raised. The second half of the week futures and spot prices to fall pared early gains, domestic tin concentrate prices did not continue to fall, as a result, the whole, this week the price performance of tin concentrate more smoothly. Miners and traders to normal shipment, is influenced by environmental supervision, some smelter is not normal work, but not too big impact in terms of raw materials procurement, clinch a deal market overall situation is good. As of Friday domestic tin concentrate tax at 60 degrees in 107500 - 109500 yuan/ton, 102500-40 degrees tin concentrate 104500 yuan/ton.
waste tin market price stability
this week, the domestic spot price and silver prices rise and fall repeatedly, but all is not big, tin scrap market price performance steady, the downstream businesses more on-demand procurement, market clinch a deal can be whole. As of Friday, guangdong area 210 - silver tin About 212 yuan/kg, the price from last week was flat, unleaded tin block price quote per kg - 106 107 yuan/kg, prices unchanged from last week.
above all, next week is expected to tin ended higher after initially falling whole, temporarily to see 18100 - Aaron tin shock interval $18500 / ton, Shanghai tin interval temporarily to see 120000 - 124500 yuan/ton.
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