Last week, the spot tin market price (8.17-8.21) had a V-shaped trend. The average domestic market price was 143,175 yuan/ton at the beginning of the week and 143,762.50 yuan/ton at the weekend, representing a weekly increase of 0.41%.
Last week, Lunxi fell to US$16,795/ton when the market opened on Monday and rebounded, and it was mainly consolidated at US$17,500/ton during the week. The Shanghai tin futures consolidated at 141,480~144,540 yuan/ton during the week, and rose by 2,050 yuan, or 1.45%, to Friday.
The spot market is trending in a'V' shape this week, and downstream transactions are average, and market transactions are relatively quiet. The tight end of the mine remains tight. The ban in Myanmar has been extended to the end of August. Yinman's full production will resume around early October. Thanks to the increase in the resource tax on tin ore resources to 4% from September 1, 2020, domestic traders’ shipment intentions have increased compared with the previous period. In the off-season, the entire tin industry chain has a mediocre performance, with just-need purchases being the main focus.
According to SunSirs price monitoring, in the 33rd week of 2020 (8.17-8.21), there are 13 commodities in the non-ferrous sector that have increased month-on-month. The top 3 commodities are neodymium praseodymium alloy (4.22%) and neodymium praseodymium oxide. (3.71%), copper (3.31%). There were 5 products that dropped from the previous month. The top 3 products were dysprosium metal (-2.95%), dysprosium oxide (-2.14%), and dysprosium-iron alloy (-1.36%). The average increase and decrease this week was 0.92%.
In terms of market outlook, SunSirs believes that most of the downstream tin industries are in the off-season, and the demand is relatively ordinary at present. Tin spot market prices mostly follow the trend of futures markets. The market outlook is expected to maintain oscillation.
If you have any questions, please feel free to contact SunSirs with email@example.com.