SunSirs: This Week, the Tin Price Showed a Slight Upward Trend within the Falling Range (November 18-22)
November 26 2024 10:57:19 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 (11.18-11.22), with an average market price of 239,860 RMB/ton at the beginning of the week and 242,280 RMB/ton at the end of the week, an increase of 1.01%.
Analysis review
The tin prices rebounded within the range in recent times. Despite the continued shortage of upstream mineral supply in Myanmar, domestic smelting expectations had increased and there has been no reduction in raw material production.
The tin consumer side was highly sensitive to prices, and last week the tin price was adjusted back for replenishment on the consumer side. In the case of insufficient supply from Indonesia, it is expected that the domestic transfer to destocking will likely continue, but the smelting end will not reduce production, so the destocking will not be too significant. At the end of the year, China entered the off-season for consumption, and imported tin ingots continued to flow in. It is expected that tin prices will fluctuate in the future.
Market outlook
Overall analysis showed that upstream supply provided insufficient support for tin prices, but an increase in import volume had a restraining effect on the rise of tin prices. In the short term, the upward trend lacks momentum and is expected to fluctuate and consolidate within the range.
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