Price trend

On December 5, the mainstream quotation range of 1# tin ingot in East China spot market was 193,000-196,000 RMB/ton, with an average price of 194,500 RMB/ton, up 8,000 RMB/ton from the previous trading day. The average price in the domestic market was 194,610 RMB/ton, 4.23% higher than the previous trading day, and 34.2% lower than the same period last year.

Analysis review

The overnight US dollar fell for three consecutive working days, boosting the metal market mentality. On the morning of the 5th, metals rose generally, and Shanghai Tin rose by more than 4%, driving the spot market to significantly increase by 8,000-9,000 RMB/ton. As of the end of the 5th, the settlement price of the main contract of Shanghai Tin 2301 was 190,360 RMB/ton, up 3.94%.

Macroscopically, the domestic policy optimization in recent two days had boosted the market mentality. Last weekend, the US dollar fell continuously and the metal market generally rose. Fundamentals did not change much recently, showing loose supply and weak demand. Although the downstream semiconductor industry had a certain improvement expectation recently, the market mentality was slightly boosted. However, the downstream procurement intention was still on demand, and the actual demand had not changed much.

Market outlook

SunSirs expects that the tin price in the future will be mainly weak in the long run, but will still be affected by the macro in the short run, maintaining a wide range of shocks.

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