Price trend

On July 27, the average market price of tin ingot in East China was 242,410 RMB/ton, up 4.21% from the previous working day. The mainstream quotation range for 1# tin ingot in the domestic spot tin market was 241,000-243,500 RMB/ton, with an average price of 242,250 RMB/ton, an increase of 9,750 RMB/ton compared to the previous trading day.

The metal market in the 26 night trading session saw both positive and negative gains, with London tin futures rose 0.4% and Shanghai tin futures rose 1.14%. In the morning, the Shanghai Tin Exchange continued its significant upward trend at night, but its gains narrowed in the afternoon. As of the close of the 27th, the settlement price of the Shanghai Tin Exchange 2309 contract was 238,220 RMB/ton, up 0.82%.

Analysis review

As the date approaches the deadline for mining restrictions in Wa State, Myanmar, the market expects supply to tighten in the future. Influenced by concerns about supply constraints, the Shanghai Tin Index rose by over 3% in the morning, but in the afternoon, its gains began to decline, rising only 0.82% as of the close. The Spot market rose significantly in the morning, but the market activity was not high. From the perspective of supply and demand, downstream consumption had not significantly improved, and consumption in the electronics industry was still weak, with weak demand. In terms of supply, there had been many maintenance companies recently, and the overall operating rate had slightly declined. However, domestic social inventory was still at a high level, and tin supply was still slightly loose. High inventory was still the main factor restraining the rise of tin prices, and the fluctuation of tin prices was mainly due to news speculation.

Market outlook

It is expected that tin prices will continue to fluctuate in the short term, and further attention needs to be paid to the implementation of mining restrictions in Wa State.

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