SunSirs: The Tin Price Rebounded in a Range and Tended to Be Stronger This Week (November 1-8)
November 11 2024 14:47:28 SunSirs (John)
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 (11.1-11.8), with an average market price of 254,660 RMB/ton at the beginning of the week and 261,830 RMB/ton at the end of the week, an increase of 2.82%.
Analysis review
The recent trend of tin prices rebounded within a range. The tight supply at the upstream mining end continued, and although news of the resumption of tin mining in the Wa State of Myanmar continued, it had not yet been implemented. As of November 8th, Myanmar's mineral exports were low and there was no significant increase in the short term. In early November, the operating rate of refined tin smelters in Yunnan and Jiangxi regions slightly decreased, and there was a significant consumption of inventory in the early stage. In the context of tight mining conditions, smelting production had declined, and it is expected that tin production will remain stable throughout the year.
The tin terminal consumer electronics, semiconductor and other fields were showing a trend of recovery, driving the consumption demand for downstream tin soldering materials and other products. It is expected that the demand for electronic consumption will continue to recover. Photovoltaic and tinplate will continue to grow.
Market outlook
Based on comprehensive analysis, with the recovery of terminal consumption and the support of various policies, tin prices are expected to maintain a stronger trend within the range.
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