According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China fell this week (11.18-11.22), with an average market price of 239860 yuan/ton at the beginning of the week and 242280 yuan/ton at the end of the week, an increase of 1.01%.
The recent rebound trend of tin prices within the range. Despite the continued shortage of upstream mineral supply in Myanmar, domestic smelting expectations have increased and there has been no reduction in raw material production.
The tin consumer side is highly sensitive to prices, and last week the tin price was adjusted back for replenishment on the consumer side. In the case of insufficient supply from Indonesia, it is expected that the domestic transfer to destocking will likely continue, but the smelting end will not reduce production, so the destocking will not be too significant. At the end of the year, China entered the off-season for consumption, and imported tin ingots continued to flow in. It is expected that tin prices will fluctuate in the future.
Overall analysis shows that insufficient upstream supply provides support for tin prices, but an increase in import volume has a restraining effect on the rise of tin prices. In the short term, the upward trend lacks momentum and is expected to fluctuate and consolidate within the range.
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