Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the 1 # tin ingot market in East China fell this week (12.23-12.27), with an average market price of 244,720 RMB/ton at the beginning of the week and 244,660 RMB/ton at the end of the week, a decrease of 0.02%.

Analysis review

The overall tin price had slightly decreased this week. Starting this week, tin prices had shown a narrow range of fluctuations both internally and externally. From a macro perspective, during the overseas Christmas holiday this week, the overall foreign market was sluggish. The US dollar index continued to fluctuate at a high level during the week, and the non-ferrous metal sector was generally under pressure.

Fundamentally, the overseas mining sector continued to be tense, providing support for tin prices below. The performance of terminal consumption had not changed significantly and continued to be weak. Most downstream customers maintained their essential purchases, and market transactions were average. The inventory status had slowed down during the week.

Market outlook

Based on comprehensive analysis, due to the support of tin inventory on prices, coupled with the possibility of Myanmar's tin mine resuming production less than expected, the supply after resuming production may not reach the level before the shutdown. It is expected that the center of tin prices will remain high and continue to fluctuate within the range next week.

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