SunSirs: Tightening Supply Boosted Tin Prices on June 9
June 10 2022 10:17:48 SunSirs (John)
Price trend
On June 9, the mainstream quotation range of 1# tin ingot in the domestic spot tin market was 260,500-264,500 RMB/ton, with an average price of 262,500 RMB/ton, an increase of 6,000 RMB/ton compared with the previous trading day.
Analysis review
Tin futures on the Shanghai Futures Exchange rose on the 9th.
Data released by the Indonesian Trade Ministry on Wednesday showed that Indonesia's refined tin exports in May were 5,283.46 tons, down 42.8% from April. The market is expected to tighten supply in the market outlook, boosting tin prices.
In terms of downstream demand, the recent favorable domestic policies have been continuously released, and the market outlook is expected to improve. The double positives support the upward trend of tin prices.
Market outlook
However, the current overall demand in the downstream is generally average, and the release of demand will take a period of time to digest. Therefore, it is expected that the upward space for tin prices is limited, and the market outlook will focus on the operating rate of the downstream.
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