Price trend

On October 10, the mainstream quotation range of 1 # tin ingot in the domestic spot tin market was 181,000-183,000 RMB/ton, with an average price of 182,000 RMB/ton, down 3,000 RMB/ton from the previous trading day.

Analysis review

During the holiday, the international macro news fluctuated frequently. Crude oil rose for five consecutive days. The market's concern about the US economic recession grew. The dollar index fell for two consecutive days. The LME metal market was mixed, with London lead up 8.24% and London tin down 5.94%. On the night of the 7th, the LME market closed down, with London tin down more than 4%.Driven by the rise of the oil sector, the atmosphere in the domestic futures market was generally optimistic. The trend of the non-ferrous metal market was relatively divergent on the 10th. In the morning, Shanghai nickel and Shanghai tin declined, and other metals generally strengthened.

Fundamentally speaking, the support of overseas demand was weak recently, the sales of tin terminal consumer goods, electronics, household appliances and other products were poor, and the market expectation was weak. In terms of supply, the supply of imported goods increased, the quotation of imported goods in the market increased, and the domestic supply of tin ingots was slightly loose compared with the previous period. After the festival, the downstream continued to maintain just in demand procurement and bargain hunting, and the market trading atmosphere was light.

Market outlook

Due to the low inventory of tin, it is obviously disturbed by the macro and domestic capital. SunSirs expects that the future tin price will still be affected more by the macro, mainly maintaining a wide range of shocks.

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