According to the monitoring of the commodity market analysis system of Business Society, the 1 # tin ingot market in East China fell first and then rose this week (11.27-12.4). The average market price at the beginning of last week was 201010 yuan/ton, while the average market price at the beginning of this week was 200460 yuan/ton, a weekly decrease of 0.27%.
K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have been continuously rising for three months due to macroeconomic factors. Since February 2023, prices have fallen by 11.35% in a single month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the tin ingot market has seen more declines and less gains in recent times.
In the early stage, the tin market was affected by a sufficient supply of imported goods, and prices continued to decline. As prices declined, downstream entry was active, and market transactions were good. The decline in inventory boosted tin prices, which rose on Friday night and continued to rise on Monday morning. Shanghai tin closed up 1.83%. In terms of supply and demand, the overall operating rate of smelters is relatively stable. However, with the increase of imported tin ingot sources, the overall supply of domestic tin ingots is relatively sufficient, and inventory is relatively high. In terms of demand, there has been little change in terminal consumption recently, and the overall trend is still weak. However, with the recent decline in tin prices, downstream market entry enthusiasm has increased, actively replenishing inventory, and purchasing intentions are still acceptable. Overall, the tin ingot market has recently seen loose supply and weak demand, and it is expected to remain stable, moderate, and weak in the short term. However, the spot market has recently seen good transactions, and the downward space for tin prices is also limited.
On December 3rd, the non-ferrous index was at 1088 points, unchanged from yesterday, a decrease of 29.26% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 79.24% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).
According to the price monitoring of Business Society, in the 48th week of 2023 (11.27-12.1), there were a total of 7 commodities in the non-ferrous sector that rose month on month in the list of commodity prices, of which 2 commodities increased by more than 5%, accounting for 8.7% of the monitored commodities in this sector; The top three commodities with the highest increase were silver (5.59%), nickel (5.21%), and gold (2.13%). There are a total of 12 products with a month on month decline, and 1 product with a decline of more than 5%, accounting for 4.3% of the monitored products in this sector; The top three products with a decline were cobalt (-8.48%), praseodymium neodymium oxide (-4.55%), and praseodymium neodymium alloy (-3.32%). The average increase and decrease this week is -0.38%.
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