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[selected SMM Weekly] the upside pattern of tin shock in Shanghai has not destroyed the spot price is expected to maintain strong volatility.
Jul 31,2020 22:56CST
The content below was translated by Tencent automatically for reference.

"SMM Tin Industry chain Weekly report" is released. SMM will select hot topics, prices, quotations or major changes in the industry chain and release information for your reference.

The following is an excerpt from the weekly report of SMM tin industry chain:

The main 2010 contract of Shanghai tin opened at 141900 yuan / ton this week. At the beginning of the week, it continued the rising trend of last Friday's night trading, fluctuating all the way up. After a short period of horizontal finishing, it rose sharply to 154400 yuan / ton, which is close to the high level since November 2018. It was only 3160 yuan / ton short of the all-time high, and fell sharply after peaking. Affected by the sharp rise in precious metals in the middle of the week, it was measured again near the 150000 yuan barrier. After it was blocked, it fluctuated all the way down. At the end of the weekend, the funds returned, the bulls' strength weakened, and the center of gravity moved down again. On Friday, it closed at 146620 yuan / ton, up 4780 yuan / ton, or 3.37%. The turnover was 263000 tons, the position was 25542 tons, an increase of 9920 tons, showing a long positive line. The physical part is located near the 5-week moving average, and the upper shadow line is longer than the physical part. There's a lot of pressure above. The Japanese K line broke the 5-day moving average at the weekend, but the upside pattern has not been damaged, so we need to pay attention to the test pressure level above the re-entry of funds after the change of month. The daily K line returns below the Bollinger belt on Thursday, and the MACD fast line crosses with the slow line to form a dead fork. The pressure above the weekly K line is on the Bollinger belt, and the MACD fast line is still above the slow line. The short-term target pressure level is still at the 150000 yuan mark.

On the spot side, spot prices at the beginning of the week were higher than last weekend. As futures rose sharply on Tuesday morning, high cloud prices resonated with futures prices, following a sharp rise in futures prices. Spot prices are high, only rigid demand is left in the lower reaches, the market fluctuates greatly, traders are worried about risks and hold a wait-and-see attitude, spot prices can not keep up with the changes in futures for a short time, and the rising water price has decreased. Late week pullback, Yunxi and Yunzi prices continue to change with the futures price, and the discount does not change much from that at the beginning of the week. Yunxi Shengshui 500 yuan / ton nearby, Yunzi discount 500 yuan / ton to flat water; some small brand manufacturers are bullish, price adjustment will is not strong, so the small brand discount is narrower than at the beginning of the week around 2000 yuan / ton. Spot prices fell high, downstream buying interest has improved compared with the middle of the week, but the price is still high, and in the overall trading atmosphere of the market is still desolate. Due to the strength of the bulls in the futures market, it is expected that the spot price of Shanghai and tin will continue to follow the futures market to maintain strong volatility in the short term.

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Catalogue of "SMM Tin Industry chain Weekly report" in this issue

Main points of this issue's weekly report

Futures trend

Spot market

Review of tin ingot market

Summary of Raw material Market

Profit and loss on import and export of refined tin

Outlook for the future

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[China Tin Industry chain High-end report] China Tin Industry chain monthly report includes macro interpretation, monthly tin price review, hot event interpretation and future forecast of various sections of the tin industry chain (tin ingots, tin mines). And release monthly relevant enterprise operating rate and inventory survey and other data, covering the entire tin industry chain.

[China Tin Industry chain routine report] China Tin Industry chain Weekly report includes macro interpretation, weekly tin price review, market trends such as various sections of the tin industry chain (tin ingots, tin mines), weekly social inventory, and future forecasts. a comprehensive interpretation of the tin market during the week.

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