Price trend

On July 10th, the average market price in East China was 277,960 RMB/ton, an increase of 0.76% compared to the previous trading day. The mainstream quotation range for tin ingots in the domestic spot tin market was 277,500 to 279,500 RMB/ton, with an average price of 278,250 RMB/ton, an increase of 3,000 RMB/ton compared to the previous trading day.

Analysis review

In the morning session, the Shanghai Tin Exchange saw a narrow upward trend, with most of the morning spot markets following suit. In the second trading session, the market saw a slight expansion in gains. At the close of the 10th, the main contract of Shanghai Tin Exchange 2408 closed down 0.07%.

In the first five months, Indonesia's exports decreased by more than 50% year-on-year, and the market had concerns about supply, providing support for tin prices. The domestic market was in a state of consolidation within a high range. Smelting enterprises still had a strong mentality of price support, and their shipment situation may be constrained. Downstream was in a wait-and-see mood, with high spot prices affecting transaction growth and the off-season continuing, and there was temporarily no upward trend in consumption.

Market outlook

It is expected that tin prices will continue to fluctuate with the overall market in the short term, maintaining a volatile and stronger trend.

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