Tin weekly review: tin deposit resistance next week, but still have upside ( 9. 19 - 9. 23)
figure 1: Aaron tin tin and Shanghai charts ( Orange: tin; Red and green: Shanghai tin)
last week because of the stronger dollar and a drop in oil prices dragged down the basic metal, tin tin and Shanghai period the diving, and center of gravity down sharply. Enter this week, Aaron period recover from a tin, tin and Shanghai as the fed to keep interest rates unchanged, in line with market expectations, boost most metals, Aaron tin tin and Shanghai to rally sharply amplifier, successful breakthrough average, and has a tendency to gradually close to the previous highs. This week, Aaron tin total gains 2. 21%, Shanghai tin week 3. 06%. But Aaron tin tin and Shanghai rally are threatened by the resistance from above, Aaron tin resistance at $19600 / ton, Shanghai tin resistance in 127000, is expected next week, both movements or repeated test resistance at first, if the breakthrough is expected to rise further, the opposite may fall down. Aaron tin shock interval 19000 - next week $19700 / ton, Shanghai tin 122000 - 128000 yuan/ton.
last week, spot prices rose sharply against expected
because of the uncertainty of the federal reserve to raise interest rates in September, the market mentality more panic, outside dish metal general trend is weak, Aaron tin tin, Shanghai centre of gravity is also down sharply, the domestic spot price fell to 123000 - 124500 yuan/ton. And delivery the goods in September will gradually flow into the market will put pressure on the spot price, therefore had to tin expected this week is weak in opinion, but expected again broken by the reality, the domestic spot prices did not fall but rise considerably, especially after the federal reserve kept interest rates unchanged news release, tin tin and Shanghai the opportunity to rebound quickly, the domestic spot price to rise sharply, once again proved easily rise to fall characteristics of tin price. Downstream prices rather than a fall, the market buyers quantity increased obviously, cheap supply of goods consumption in the market quickly, and there are some of the upstream manufacturers said temporary have no goods available, the market supply of goods in circulation gradually partial tension, clinch a deal the domestic spot market conditions improved significantly. If the delivery of goods poured into the market next week, the tin will be under a certain pressure, if this did not happen, then the next week's expectations of tin is still strong, adjustment range temporarily to see 124000 - next week 128000 yuan/ton.
the raw material price is high, and there is still space
the domestic spot price rising against expected to rise sharply, but the domestic market and a half weeks before tin concentrate relatively calm, with mainly concentrated in the second half weeks, the price is high, and still showed a trend of rising, the shipper of shipments is good, the market clinch a deal can be as a whole. As of Friday domestic tin concentrate tax at 60 degrees in 109500 - 111500 yuan/ton, 104500-40 degrees tin concentrate 106500 yuan/ton.
waste tin prices steady rise
half weeks after first, the domestic spot price rising expectations, with higher scrap tin market, the overall with flat tended to wait and see attitude, with the second half of the week, the federal reserve to keep interest rates unchanged after reliable news release, waste tin prices began to rise without any hesitation. And waste tin price is too high, the shipper's price is rised, downstream buyers more fear, clinch a deal the goods show difficulties, market as a whole is still show & other; Has a price without throughout the city &; State. As of Friday, guangdong area 211 - silver tin About 213 yuan/kg, prices rise from last week about $1, unleaded tin block price quote per kg - 111 112 yuan/kg, prices rise from last week about $1.
above all, next week is expected to tin as a whole is still rising space, but the price is high, and under the bondage of resistance above the rise space or not too big. Aaron tin shock interval see 19000 - $19700 / ton, Shanghai tin 122000 - 128000 yuan/ton. The spot price range to see 124000 - 128000 yuan/ton.