Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the 1 # tin ingot market in East China rose this week (2.17-2.21), with an average market price of 260,430 RMB/ton at the beginning of the week and 263,930 RMB/ton at the end of the week, with a weekly increase of 1.34%.

Analysis review

Fundamentally, there were rumors within the week that the solution used for ore washing had been successfully exported to the Wa State region of Myanmar, indicating that preparatory work was underway intensively. At the same time, domestic mining workers were also ready to go to Wa State to participate in mining work and make sufficient manpower preparations for the upcoming resumption of production. According to relevant speculation, tin mines in the Wa region are expected to resume production by the end of February and begin mining in March to April. However, this news was temporarily difficult to fully confirm. However, from various factors, the Wa region had a strong demand for resuming production and generating revenue, and the domestic tin ore market was in a state of supply shortage, so cooperation was highly feasible.

On the supply and demand side, the operating rate of downstream tin and solder enterprises has shown a steady growth trend, with a significant increase on a month on month basis. The overall demand in the consumer electronics market was gradually recovering.

This week, domestic inventory increased to 9,256 tons, an increase of 516 tons, and spot premium reached 200 RMB; LME inventory decreased to 3,690 tons, a decrease of 220 tons, and global inventory showed a slight accumulation trend.

Market outlook

The concerns about the impact of US tariff policies have eased, and the manufacturing PMI has been above the boom bust line for two consecutive months, indicating that overseas industrial demand remained stable. At the same time, the expectation of the two sessions' policies in China continued to exist, bringing positive effects to the market. In addition, rumors of resuming production in Wa State within the week may have a certain impact on the trend of tin prices.

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