SunSirs: Tin Market Went up (January.06 - 10)

1. Price trend

In this week (January.06 - 10), the market price of domestic 1# tin ingot rose. The average price of domestic market was 140,562.5RMB/ton at the beginning of the week and 14,1700RMB/ton at the end of the week, up 0.81%.

On January 10, the tin commodity index was 72.18, unchanged from yesterday, 28.00% lower than the highest point in the cycle, 100.25 (September 5, 2011), and 68.41% higher than the lowest point, 42.86 on December 9, 2015. (Note: cycle refers to September 1, 2011 to now).

2. Market trend analysis

Domestic market: the spot market price fluctuated upward this week, mainly driven by the futures market and the positive stock up of enterprises towards the end of the year. As of Friday, the mainstream price of the spot tin market was 140,500-142,000RMB/ton. It's 750RMB/ton higher than last Friday.

Nonferrous Industry: this week, the market shrouded in the risk sentiment brought about by the US Iraq conflict. Crude oil and gold soared, and nonferrous metals were passively pressured, first suppressed and then raised. As the United States announced to replace the full-scale war with economic sanctions, the risk aversion mood was eased, and the low metal level gradually picked up.

3. Future prospects

Next week will usher in the first round of signing the Sino US trade agreement. There are a lot of data in the United States, and it is expected that the U.S. dollar will still have room to continue to recover. China will face the delivery of the 2001 contract. With the delivery for another month, downstream consumption will gradually enter the Spring Festival holiday mode, and consumption will obviously turn weak, and basic metals will fall under pressure after surging. From next week, it will be closed in recent years. Most manufacturers will have a holiday. The market is light and the price is stable.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.