On November 12th, the average market price in East China was 257410 yuan/ton, a decrease of 0.89% compared to the previous trading day. The mainstream price range for 1 # tin ingots in the domestic spot tin market is 256250-258250 yuan/ton, with an average price of 257250 yuan/ton, a decrease of 2500 yuan/ton from the previous trading day.
Shanghai tin fluctuated and fell in the morning session, with tin prices in the spot market slightly decreasing in the morning, and the decline in the market widened in the second trading session. At the close of the 12th, the main contract of Shanghai Wuxi 2412 closed down 1.92%.
The fundamental changes are not significant, and tin ingot production remains stable. Terminal consumption slowed down in November, and tin ingot inventory turned into accumulated inventory. Price fluctuations, refinery prices are high, and transactions are average. The sentiment in the spot market is cautious, with a focus on essential purchases. The actual demand growth downstream is lower than expected, and except for essential purchases, other buyers are waiting for further price reductions. In addition, domestic refined tin production has slightly increased, and production will remain stable in the short term. Today’s follow-up, I heard that Xiaopai has a discount of 300 to 100 yuan/ton for December, Yunzi Tou has a discount of around 100-500 yuan/ton for December, and Yunxi has a discount of around 500-800 yuan/ton for December.
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