SunSirs: On March 16, the Tin Price Fell 4.42% in a Single Day Due to the Macro Drag
March 17 2023 13:08:32 SunSirs (John)
Price trend
On March 16, the average market price of tin ingots in East China was 179,660 RMB/ton, down 4.42% from the previous trading day. The mainstream quotation range of 1# tin ingot in the domestic spot tin market was 179,000-180,500 RMB/ton, with an average price of 179,750 RMB/ton, down 8,500 RMB/ton from the previous trading day.
Analysis review
On the night of the 15th, crude oil fell sharply, and the US dollar closed up 1%. The combination of negative factors such as the credit crisis in Switzerland affected the market mentality. The metal fell across the board in the night, with the Shanghai Tin Exchange leading the decline of 4.17% in the internal market. In the morning of the 16th, the decline of metal was slightly narrowed, but tin was strongly affected by the macro market. In the morning of the 16th, it still fell by more than 3%, and the spot market fell sharply following the trend of futures..
Market outlook
From the perspective of supply and demand, the recent changes of tin were limited, and both supply and demand were weak. The recent fluctuations mainly followed the macro trend. In the future, the tin market still maintains a weak trend, and it is necessary to focus on the actual downstream demand and the impact of domestic and foreign macro policies on the market mentality.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
- 2024-04-25 SunSirs: Affected by Supply Shortage on April 22nd, Shanghai Tin Rose 6.31% in a Single Day
- 2024-04-18 SunSirs: On April 17th, under the Macroeconomic Disturbance, the Shanghai Tin Exchange Ended Its 10 Consecutive Gains
- 2024-04-11 SunSirs: On April 10th, Supply Concerns Combined with Macroeconomic Benefits Led to an Increase in Shanghai Tin Prices
- 2024-02-07 SunSirs: The Holiday Atmosphere Was Strong, and the Tin Ingot Market Was Operating to Be Weaker (January 29-February 5)
- 2024-01-30 SunSirs: Stocking before Holiday, Tin Ingot Market Was Upward (January 19-26)
