SunSirs: On July 6, the Fundamentals Were under Pressure, and the Price of Tin Fell
July 06 2022 15:44:30 SunSirs (John)Price trend
On July 6, the mainstream quotation range of 1# tin ingot in the domestic spot tin market was 189,000-194,000 RMB/ton, and the average price was 191,500 RMB/ton, which was 12,250 RMB/ton lower than the previous trading day.
Analysis review
On the night of the 5th, the US dollar hit another 20-year high, non-ferrous metals fell under pressure across the board, and Shanghai tin closed down 5.34%.
From the fundamental point of view, the current downstream demand performance is average, and the overall market performance is relatively weak. Although the tin price has been declining, there is no sign of demand improvement in the downstream, and it still maintains on-demand procurement.
Market outlook
Under the weak supply and demand pattern, the market outlook is expected to continue to be under pressure.
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