On September 14, the mainstream quotation range of 1 # tin ingot in the domestic spot tin market was 178000-180000 yuan/ton, with an average price of 179000 yuan/ton, down 9000 yuan/ton from the previous trading day.
On the night of the 13th, the United States released inflation data, which was generally high and exceeded market expectations. The expectation of the Federal Reserve to raise interest rates rose, leading to a sharp rise of about 1.5% in the dollar index. The metal was generally under pressure at night, with Lunxi falling more than 35, and Shanghai Tin leading the decline of 4.33%. In the morning of the 14th, Shanghai Tin continued the decline of the night market. As of the closing of the 14th, the main force of Shanghai Tin 2210 contracts had closed at 174410 yuan/ton, down 4.63%.
Fundamentally speaking, the recent commencement of the smelter is generally stable. The domestic tin output increased significantly in August. The recent profits of import sources are obvious. The import sources have increased significantly. The quotation of imported goods in the market has increased. The domestic tin ingot supply is generally loose. There is no obvious change in downstream demand in the near future, consumption is slightly weak, and the willingness to prepare goods before the festival is low as a whole. Downstream still maintains procurement on demand, and the market has a strong wait-and-see mentality. In general, the tin market is still characterized by weak supply and demand, weak downstream demand, and tin price is hard to support. The trend of tin price is obviously subject to macro disturbance. It is expected that the tin price as a whole is still likely to maintain a wide range of shocks.
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