This week, the spot tin market price (7.29-8.5) fluctuated for many times, and the overall market rose. The average price of the domestic market was 195710 yuan / ton at the end of last week and 199210 yuan / ton at the end of this week, up 1.79% this week.
| PVA 1799 (PVA BF17) |
The K-bar chart of commodity price reflects the weekly or monthly price changes in the form of a bar chart by using the idea of the K-line of price trend. Investors can buy and sell according to the changes of the K-bar chart. Red indicates rising; Green means: falling; The height of K column indicates the range of rise and fall. It can be seen from the above figure that the tin price continues to weaken after April.
According to the price monitoring of the trading society, in the list of commodity price rises and falls in the 31st week of 2022 (8.1-8.5), there are 4 commodities in the non-ferrous sector that have increased month on month, and the top 3 commodities are gold (1.39%), zinc (1.27%) and aluminum (0.56%). There were 16 commodities with a month on month decline, and 4 commodities with a decline of more than 5%, accounting for 17.4% of the monitored commodities in this sector; The products with the top three declines were neodymium oxide (- 6.14%), praseodymium oxide (- 5.85%) and metal neodymium (- 5.58%). This week’s average increase or decrease was – 1.9%.
Futures market situation this week
| PVA |
Variety, closing price, compared with the same period last week, inventory (tons)
Shanghai tin, 198000 yuan / ton, + 3060 yuan / ton, 3557
Lunxi, 24335 US dollars / ton, – 565 US dollars / ton, 4015
In the futures market, this week, Lunxi maintained a wide range of volatility, while the trend of Shanghai and tin fluctuated at a high level. On the macro level, at the beginning of last week, the geopolitical situation was tense, the risk aversion psychology was strong, and the metal market was generally under pressure. On Friday, the metal market mentality was boosted by the fall of the US dollar index. The metal market as a whole rose, and Shanghai and tin followed the recovery.
With the gradual recovery of the maintenance of domestic smelters, the supply of tin has been gradually relaxed in the near future, while the downstream demand has not changed much in the near future. The overall start-up of tin and solder enterprises is still low and the orders are small. In terms of inventory, the social inventory was reduced slightly this week, and the overall inventory level was higher than that of the same period last year. Generally speaking, the market expects tin production to rise in August, and the main production areas such as Yunnan and Jiangxi will gradually resume production, and the supply is expected to increase. The downstream demand is weak, and the tin price is difficult to be supported. It is expected that the rising power of the tin price is insufficient, and it is expected that the tin price will be under pressure in the future.
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