1、 Price trend
On May 29, the tin commodity index was 70.25, up 0.2 points from yesterday, down 29.93% from the cycle’s highest point of 100.25 (2011-09-05), and up 63.91% from December 09, 2015′s lowest point of 42.86. (Note: cycle refers to 2011-09-01 to now).
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2、 Market trend analysis
In terms of futures, the overall price of Lunxi rose in shock this week, but the increase was limited. On the 25th, the price was slightly weakened due to the last week’s market drag, with a 0.98% increase as of Friday, 584 transactions, 16931 positions and 21 more. Shanghai tin 2007 contract fluctuated upward this week, closing at 134420 yuan / ton as of Friday, up 3940 yuan / ton, up about 3%.
This week, the domestic spot market rose after following the trend of Shanghai tin market. At the beginning of the week, the spot market weakened slightly due to the low price of Lunxi, and then the rising price of Shanghai tin led the domestic spot market to rise slightly. However, due to the limited downstream demand, the overall market transaction was relatively cold, and the spot market price followed the rise slightly, with a weekly increase of only 0.38%. In terms of premium and discount, it was relatively stable this week and kept around 3000-5000 yuan / ton.
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According to the price monitoring of the business agency, in the 21st week of 2020 (5.25-5.29), there are seven commodities in the list of commodity prices rising and falling, among which silver (1.70%), aluminum (1.56%) and praseodymium neodymium oxide (0.93%) are the top three commodities. There are 5 kinds of commodities falling on a month on month basis, and the top 3 products falling were zinc (- 0.65%), lead (- 0.26%) and nickel (- 0.21%). This week’s average was 0.22%.
The business club predicts that the favorable impact of the two sessions’ policy will further affect the metal market next week. Domestic industries will gradually step into the right track, and the construction will be gradually improved. The overall market environment is good, but the downstream demand has not recovered in the near future. It is expected that the spot market will be dominated by stable trend and fluctuate slightly.
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