According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China fell this week (12.2-12.6), with an average market price of 242190 yuan/ton at the beginning of the week and 243700 yuan/ton at the end of the week, an increase of 0.62%.
Recently, the tin price range has fluctuated slightly and increased. The current macroeconomic situation has a complex impact on tin prices, and paying attention to the policy attitude and ideas of the Central Economic Work Conference may have an impact on market sentiment. The impact of the shutdown of upstream Myanmar tin mines has not yet been transmitted to the smelting end, but considering that the supply of raw materials from the mining end is still biased towards demand.
Fundamentally, Indonesia currently exports more tin ingots to China, but domestic tin ore supply is further tightening. On the tin consumption side, automobile and household appliances maintain a high growth rate, but the overall demand’s support for tin prices is not yet significant. The social inventory of Shanghai tin has dropped to 6920 tons, a new low for the year. The inventory changes further highlight the tight supply in the current tin market, which has provided some support for tin prices.
Overall analysis shows that tin prices are currently in a short-term period of consolidation and bottoming out. Supported by factors such as a decrease in inventory and a rebound in spot market trading, tin prices are expected to continue to rebound. But the lack of consumer motivation affects the rebound momentum.
| http://www.sulfamic-acid.com |