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SunSirs: Dragged Down by Demand, Tin Prices Was Lower on June 6
June 07 2022 09:27:40SunSirs(John)

Price trend

On June 6, the mainstream quotation range of 1# tin ingots in the domestic spot tin market was 259,000-265,000 RMB/ton, with an average price of 262,000 RMB/ton, down 9,000 RMB/ton from the previous trading day.

Analysis review

In early trading on the 6th, Shanghai tin futures fell by more than 4%, and the spot market followed the decline. The tin price bottomed out before the holiday, but the downstream demand performance was average, the support for the tin price was limited, and the Shanghai Futures Exchange's inventory rebounded, dragging down the market's mentality, and the tin price fell

Market outlook

In the short term, the price of tin mainly follows the trend of futures. In the environment of stable supply and weak demand, it is expected that the trend of tin prices will fluctuate in the short term.

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