According to the monitoring of the commodity market analysis system of the business community, this week’s (7.07-7.14) “V” trend of 1 # tin ingot in East China, the average market price was 234210 yuan/ton on July 7, and 233310 yuan/ton on July 14, a weekly drop of 0.38%.
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The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have risen continuously for three months due to macroeconomic factors. Since February 2023, the price has dropped by 11.35% per month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the tin ingot market has been rising for eight consecutive weeks.
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In terms of the futures market, Shanghai tin prices fell first and then rose this week. As the Wa mining ban approaches August and some domestic enterprises undergo maintenance, supply expectations are expected to tighten, and tin prices have surged close to the highest point in the year. But ultimately, due to high domestic inventory and poor downstream demand, the rise in tin prices was weak. On the supply side, the tight supply at the mining end is beginning to emerge, and the demand side is still in the off-season, and the market expects downstream demand to remain weak in the third quarter. In terms of inventory, domestic inventory is still at a high level. In general, tin is still in a pattern of weak supply and demand, and high inventory in China is still a factor restricting the upward trend of tin prices. With tin prices rising all the way, market transactions are generally weak. Downstream solder enterprises slow down procurement, mainly consuming inventory in the early stage, and transactions in the Spot market are light. In the future, the Business Society believes that tin prices are still following macro fluctuations in the near future. As August approaches, the focus will be on the further impact of Wa news on the market.
Related data:
On July 16th, the base metal index stood at 1222 points, unchanged from yesterday, a decrease of 24.38% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 90.34% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).
According to the price monitoring of Business Society, there were a total of 14 commodities in the non-ferrous sector on the list of commodity prices rising and falling in the 28th week of 2023 (7.10-7.14), with 2 commodities increasing by more than 5%, accounting for 8.7% of the monitored commodities in this sector; The top three commodities were Dysprosium(III) oxide (6.00%), silver (5.08%) and zinc (3.05%). There are a total of 8 products that have decreased compared to the previous month, with the top 3 products falling respectively being neodymium metal (-3.39%), antimony (-3.14%), and praseodymium metal (-2.39%). This week’s average increase or decrease was 0.95%.
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