Price trend
On August 1, the mainstream quotation range of 1# tin ingot in the domestic spot tin market was 200,000-202,000 RMB/ton, with an average price of 201,000 RMB/ton, an increase of 6,500 RMB/ton compared with the previous trading day.
Analysis review
The trend of metals in the night session closed up across the board, with London Nickel leading the rise by 9.4%, and London Tin rising by 2.57%. Inner trading metals also closed up across the board due to the macro boost, of which Shanghai Nickel led the rise by 7.34%, and Shanghai Tin rose by 4.87%. The performance of this rising tin is weaker than the previous period, the overall rise is limited, the follow-up is not obvious, and the basic trend is volatile. Mainly it was affected by fundamental trends.
From a fundamental point of view, in terms of supply, many smelters were shut down for maintenance in July, and the overall output in July is expected to decline. However, there is a plan to start the maintenance equipment in the early stage in August, and the market expects that the supply will be loose in the market outlook, and from the perspective of inventory data, the overall destocking situation of the market during the maintenance period is not ideal. On the demand side, there has not been much change in downstream demand recently. The overall start-up of tin and solder enterprises is still low. Although it has improved, it is difficult to boost tin prices as a whole. On the whole, the price of tin is still under pressure as a whole, so the performance of tin rising this time is moderate.
Market outlook
In the market outlook, the fundamentals are weak, the market has a strong wait-and-see mood, and the spot trading performance is general. It is expected that the price of tin will have a certain upward pressure in the market outlook. It is expected that the price of tin will continue to fluctuate in a wide range under the pattern of weak supply and demand.
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