Newsletter summary
The contract between Shanghai and tin rose by 2406 today.Casinomaxnodepositbonus.25%, closing at 260010 yuan / ton. Spot tin prices rose at the same time, the market bargain replenishment atmosphere warmed up. The initial PMI of US manufacturing was lower than expected and the shortage of supply in the global tin market posed a challenge. Short-term attention to Indonesia's exports and domestic depots, spot performance may be bargain-seeking long opportunities.
Text of news flash
[Shanghai-tin contract 2406 performed well in afternoon trading] today, Shanghai-tin contract 2406 showed an upward trend during the afternoon trading session, with the opening price of 254280 yuan / ton, and then the price gradually climbed, with the highest intraday price reaching 260280 yuan / ton. In the end, the contract closed at 260010 yuan per ton, up from the opening price.Casinomaxnodepositbonus5730 yuan, an increase of 2.25%. [spot tin prices rose synchronously and the market situation improved] on April 25, ccmn Changjiang comprehensive tin prices quoted a price range of 252500-255500 yuan / ton, with an average price of 254000 yuan / ton, up 1500 yuan from the previous trading day. At the same time, Shanghai spot tin quotation also showed a rising trend, the price range is 252000-256000 yuan / ton, the average price is also 254000 yuan / ton, up 1500 yuan / ton compared with the previous trading day. [tin market supply shortage still needs attention] on the macro level, the initial PMI of the US manufacturing sector in April was lower than market expectations and fell below 50, which boosted expectations of interest rate cuts. Affected by this, the dollar index fell, and risk appetite rebounded. However, the resumption of tin production in Myanmar has been blocked, coupled with Indonesia's export approval has been basically completed, but the recovery of production has not met expectations, the problem of supply shortage in the global tin market is still prominent. [operational strategy suggestion] the output of domestic smelters remained high in April, and after the recent sharp fall in tin prices, the atmosphere of replenishing stocks at bargain prices has warmed up. In the short term, investors should pay close attention to Indonesia's exports and the progress of domestic destocking, as well as spot performance and look for long bargain opportunities. It is expected that tin prices will remain strong in the short term. The above views are for reference only, and investors should operate cautiously according to their own conditions.
