Low inventory supports tin price to rise (9.16-9.23)

This week, the spot tin market price (9.16-9.23) rose in shock. The average price in the domestic market was 183610 yuan/ton last weekend and 187860 yuan/ton this weekend, up 2.31%.


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The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. It can be seen from the above figure that the tin price will continue to weaken after April 2022, with only partial weekly price increases, and the increase is relatively low. The overall trend is mainly downward.


Futures market situation this week


Variety., closing price., compared with the same period of last week., inventory volume (ton)., compared with last week’s inventory change (ton)

Shanghai Tin, 183100 yuan/ton,+6850 yuan/ton, 1891., – 101

London tin, 20240 dollars/ton, – 890 dollars/ton, 5160.,+195

In terms of futures market, the overall trend of Lunxi this week was high and volatile, falling 0.4%. Shanghai and Wuxi rose by nearly 4% this week in shock. On the macro level, the US Federal Reserve raised interest rates at 75 points this week. The post hawk speech intensified the expectation of future interest rate hikes. Many countries followed the US Federal Reserve’s announcement of interest rate hikes. The US dollar hit new highs for nearly 20 years for many times in a row, and prices fell back on Friday due to the impact of interest rate hikes. Shanghai Tin was supported by low inventory, and prices rose mainly this week. In terms of inventory, the inventory of the previous period declined by 101 tons, and the LME inventory increased by 195 tons.

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The main range of the spot market this week is 183000-190000 yuan/ton, and the price is about 8000 yuan/ton higher than last week, a small increase. The spot market rose and fell this week. The market is still purchasing on demand, and the overall delivery is average. There is no obvious change in the supply and demand, which is still a pattern of weak supply and demand. In terms of supply, the supply of imported goods has increased significantly, the quotation of imported goods in the market has increased, and the domestic tin ingot supply is relatively loose as a whole. The overall performance of downstream demand is not outstanding, and there is a certain willingness to prepare goods before the festival. Downstream procurement is maintained on demand. As the overall inventory of tin is relatively low, it is obviously subject to macro disturbance. The business community expects that the future tin price will still be subject to macro influence, mainly maintaining a wide range of shocks.


According to the price monitoring of the business community, there are 15 kinds of commodities in the nonferrous metal sector that rose month on month in the list of commodity price rises and falls in the 38th week of 2022 (9.19-9.23), including 2 kinds of commodities that rose more than 5%, accounting for 8.7% of the number of monitored commodities in this sector; The top three commodities were praseodymium oxide (6.82%), neodymium oxide (5.22%) and dysprosium ferroalloy (3.94%). There were four kinds of commodities that declined month on month, with copper (-0.72%), nickel (-0.58%) and aluminum (-0.57%) in the top three. The average rise or fall this week was 1.59%.


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