On December 5, the mainstream quotation range of 1 # tin ingot in East China spot market was 193000-196000 yuan/ton, with an average price of 194500 yuan/ton, up 8000 yuan/ton from the previous trading day. The average price in the domestic market was 194610 yuan/ton, 4.23% higher than the previous trading day, and 34.2% lower than the same period last year.
| Gamma-PGA (gamma polyglutamic acid) |
The US dollar fell for three consecutive working days overnight, boosting the metal market mentality. Today, metals rose in the morning, and Shanghai Tin rose by more than 4%, driving the spot market to rise significantly by 8000-9000 yuan/ton. As of the end of the 5th day, the settlement price of the main contract of Shanghai Tin 2301 was 190360 yuan/ton, up 3.94%.
Macroscopically, the domestic policy optimization in recent two days has boosted the market mentality. Last weekend, the US dollar fell continuously and the metal market generally rose. Fundamentals have not changed much in recent years, which still shows loose supply and weak demand. Although the downstream semiconductor industry is expected to improve in the near future, the market mentality is slightly boosted. However, the downstream procurement intention is still on demand, and the actual demand has not changed much. The business agency expects that the tin price in the future will be mainly weak in the long run, but will still be affected by the macro in the short run, maintaining a wide range of shocks.
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