On July 10th, the average market price in East China was 277960 yuan/ton, an increase of 0.76% compared to the previous trading day. The mainstream quotation range for tin ingots in the domestic spot tin market is 277500 to 279500 yuan/ton, with an average price of 278250 yuan/ton, an increase of 3000 yuan/ton compared to the previous trading day.
In the morning session, the Shanghai Tin Exchange saw a narrow upward trend, with most of the morning spot markets following suit. However, in the second trading session, the market saw a slight expansion in gains. At the close of the 10th, the main contract of Shanghai Tin Exchange 2408 closed down 0.07%.
In the first five months, Indonesia’s exports decreased by more than 50% year-on-year, and the market has concerns about supply, providing support for tin prices. The domestic market is in a state of consolidation within a high range. Smelting enterprises still have a strong mentality of price support, and their shipment situation may be constrained. Downstream is in a wait-and-see mood, with high spot prices affecting transaction growth and the off-season continuing, and there is currently no upward trend in consumption. It is expected that tin prices will continue to fluctuate with the overall market in the short term, maintaining a strong and volatile trend.
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