Price trend

On August 30th, the average market price in East China was 263,510 RMB/ton, a decrease of 0.59% compared to the previous trading day. The mainstream price range for 1# tin ingots in the domestic spot tin market was 262,500-264,500 RMB/ton, with an average price of 263,500 RMB/ton, an increase of 1,000 RMB/ton compared to the previous trading day.

Analysis review

The Shanghai Tin Futures experienced a consolidation in the early trading range, with a slight increase in the near to far month basis difference on August 30th; The market saw a slight increase during the second trading session. At the close of the day, the Shanghai tin future 2410 main contract closed up 0.19%.

Refineries' willingness to hold prices had loosened, and some shipments had remained stable. From the current market perspective, due to the traditional off-season for consumption and the still high market prices, the demand in the terminal industry was still suppressed. In the short term, continue to observe and wait, and the number of orders received was not large.

Market outlook

In terms of trading on August 30th, It’s heard that small brands were offering a discount of around 200 RMB/ton for September, with a discount of around 200-500 RMB/ton for Yunzi Tou tin future in September. Yunxi was offering a discount of around 500-800 RMB/ton for September.

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