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March 20th Futures News: The following are the warehouse receipts and changes for various commodities traded on the Shanghai Futures Exchange: 1. Tin futures warehouse receipts: 9486 tons, a decrease of 789 tons from the previous trading day; 2. International copper futures warehouse receipts: 15144 tons, unchanged from the previous trading day; 3. Lead futures warehouse receipts: 58174 tons, a decrease of 3677 tons from the previous trading day; 4. Medium-sulfur crude oil futures warehouse receipts: 3511000 barrels, unchanged from the previous trading day; 5. Gold futures warehouse receipts: 106845 kg, unchanged from the previous trading day; 6. Pulp warehouse futures warehouse receipts: 165075 tons, unchanged from the previous trading day; 7. Pulp mill warehouse futures warehouse receipts: 17000 tons, unchanged from the previous trading day; 8. Nickel futures warehouse receipts: 56690 tons, a decrease of 209 tons from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 43,120 tons, unchanged from the previous trading day; 10. Natural rubber futures warehouse receipts: 125,440 tons, unchanged from the previous trading day; 11. Petroleum asphalt plant warehouse futures warehouse receipts: 57,880 tons, unchanged from the previous trading day; 12. Petroleum asphalt warehouse futures warehouse receipts: 36,100 tons, unchanged from the previous trading day; 13. Stainless steel warehouse futures warehouse receipts: 40,838 tons, unchanged from the previous trading day; 14. Zinc futures warehouse receipts: 102,509 tons, a decrease of 95 tons from the previous trading day; 15. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 16. TSR20 rubber futures warehouse receipts: 48,082 tons, a decrease of 705 tons from the previous trading day; 17. Rebar warehouse futures warehouse receipts: 49,286 tons, an increase of 7,610 tons from the previous trading day; 18. Aluminum futures warehouse receipts totaled 403,558 tons, an increase of 10,332 tons from the previous trading day; 19. Alumina futures warehouse receipts totaled 400,603 tons, an increase of 8,686 tons from the previous trading day; 20. Silver futures warehouse receipts totaled 362,495 kg, a decrease of 2,370 kg from the previous trading day; 21. Copper futures warehouse receipts totaled 287,852 tons, a decrease of 18,528 tons from the previous trading day; 22. Hot-rolled coil futures warehouse receipts totaled 522,795 tons, an increase of 48,799 tons from the previous trading day; 23. Butadiene rubber futures warehouse receipts totaled 47,280 tons, a decrease of 340 tons from the previous trading day.The onshore yuan closed at 6.8817 against the US dollar at 16:30 on March 20, up 196 points from the previous trading day.British two-year government bonds opened flat today after a sharp drop on Thursday, underperforming German bonds.According to data from the Statistics and Census Service of the Macao SAR Government, on March 20, 2026, benefiting from the Lunar New Year holiday, the number of inbound tourists in February 2026 increased by 32.6% year-on-year to 4,172,940. Same-day visitors (2,676,431) and overnight visitors (1,496,509) increased by 41.8% and 18.8% year-on-year respectively. The average length of stay for tourists (0.9 days) decreased by 0.2 days year-on-year, with the average length of stay for overnight visitors (2.1 days) decreasing by 0.1 days.On March 20, Foreign Ministry Spokesperson Lin Jian held a regular press conference. A reporter asked: China just announced that Vice President Han Zheng is visiting Kenya, South Africa, and Seychelles. Could the spokesperson please introduce the background, activities, and Chinas expectations for this visit? Lin Jian stated that 2026 marks the start of Chinas 15th Five-Year Plan, the 70th anniversary of the establishment of diplomatic relations between China and Africa, and the "China-Africa Year of People-to-People Exchanges." This visit is an important high-level exchange between China and African countries. During the visit, Vice President Han Zheng will exchange in-depth views with all parties on bilateral relations and issues of common concern. In South Africa, Vice President Han Zheng will co-chair the ninth plenary meeting of the China-South Africa Bilateral Committee with Vice President Machatille. China hopes that this visit will further align the 15th Five-Year Plan with the development strategies of the three countries, strengthen political mutual trust, expand pragmatic cooperation in various fields, and promote the building of an all-weather China-Africa community with a shared future in the new era.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.