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SunSirs: On April 1, the Fundamentals Were under Pressure, and the Price of Tin Fell
April 02 2022 09:06:35SunSirs(John)

Price trend

On April 1, the mainstream quotation range of 1# tin ingot in the domestic spot tin market was 346,500-348,500 RMB/ton, and the average price was 347,500 RMB/ton, which was 2,250 RMB/ton lower than the previous trading day.

Analysis review

The U.S. dollar index closed up on Thursday night, and the metal market was under pressure. London tin closed down 0.63%, and Shanghai tin closed down 0.52%. On April 1, Shanghai tin fell by more than 1%, and the spot market followed it down. Fundamentally, the current market supply is still tight, the market transaction is general, the price of tin is relatively high, the downstream still maintains on-demand procurement, and the overall transaction situation is average.

The import of tin concentrate from Myanmar is relatively stable at the upstream. At present, the domestic tin inventory is still low. The downstream solder enterprises are currently operating at a low level and the demand for tin is weak.

Market outlook

The tin market as a whole is still in a pattern of weak supply and demand, supported by low inventories, the price of tin is mainly stable and strong.

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