SunSirs: On September 26th, the US Dollar Rose, While the Shanghai Tin Overnight Trading Fell
September 27 2023 14:21:34 SunSirs (John)
Price trend
On September 25th, the average market price of tin ingot in the East China region was 222,710 RMB/ton, an increase of 2.32% compared to the previous working day. The mainstream quotation range for 1# tin ingot in the domestic spot tin market was 222,000-223,500 RMB/ton, with an average price of 222,750 RMB/ton, an increase of 4,750 RMB/ton compared to the previous trading day.
Analysis review
In terms of the US dollar, the US dollar continued to rise on Monday, hitting a new high for the year during the session and closing up 0.3%. The rise of the US dollar had generally put pressure on the metal market, only Shanghai zinc rose by 0.09%, and other metals generally declined, with Shanghai tin leading the decline of 1.27%.
On the supply and demand side, there was still a tight supply at the mining end, and some smelters in some regions experienced a slight decline in operating rates due to the impact of tight raw material supply. In terms of demand, there was still a demand for stocking before holiday, but most downstream enterprises were buying on dips. Recently, market prices rose, and downstream buying activity was generally limited.
Market outlook
Overall, there was still a demand for restocking before holiday, and most downstream enterprises were buying on dips. It is expected that the tin market will fluctuate at high levels in the future, with a focus on the macro impact and downstream stocking demand.
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)
