SunSirs: The Basic Impact of Domestic Tin Supply and Demand on Prices Remains Limited
April 21 2023 13:38:47Latest price of tin (4-19): 218660 RMB/ton, bearish in the future
Key points of analysis: Affected by the planned shutdown of production in the Wa state of Myanmar on Monday, the Shanghai tin stock has risen sharply for two consecutive days. Today, the news has been basically digested, and the market has declined. On the morning of the 19th, the Shanghai Tin Exchange began to decline after a volatile opening session, with a maximum intraday drop of nearly 3%. The decline slowed down later, and by the end of the 19th, the main 2305 contract of the Shanghai Tin Exchange was settled at 220440 RMB/ton, with a closing price drop of 1.51%. Fundamentally speaking, the tin market has not changed much recently. Although there are signs of improvement in downstream demand, the overall situation is still weak. In the short term, the market has fluctuated significantly due to the news of the planned production suspension in Wa State. However, the subsequent impact on fundamentals is still unclear. On the 19th, the spot market quotation was also relatively volatile, and the market's wait-and-see sentiment is strong.
Future forecast: In the short term, the impact of domestic supply and demand on tin prices remains limited, and it is still necessary to focus on the impact of domestic and foreign macro factors on the market in the future.
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