Price trend

On July 27, the mainstream quotation range of 1# tin ingot in the domestic spot tin market was 190,500-193,500 RMB/ton, with an average price of 192,000 RMB/ton, down 4,000 RMB/ton from the previous trading day.

Analysis review

Most of the LME London metals rose on the night of the 26th, only the London tin and the London nickel fell, of which the London tin fell 0.69%. In the evening trading, the domestic metal market generally fell, and Shanghai tin fell by more than 1%. In terms of inventories, the latest data on the inventory of tin on the 26th was 3,670 tons, which was a new high in the past year, dragging the tin lower.

From a fundamental point of view, in terms of supply, more smelters were shut down for maintenance in July, and the overall July output is expected to decline. In terms of downstream demand, there has not been much change recently, and the overall start-up of tin and solder companies was still low, with fewer orders. In terms of the market, the current month contracts in the spot market have been delivered this week, and the overall supply of goods in the market was relatively sufficient. The market transaction situation was general, and most of them were shipped at a discount.

Market outlook

The recent trend of tin price is still more disturbed by macro factors, and it is expected that the price of tin will continue to fluctuate in a wide range under the pattern of weak supply and demand.

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