According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China fell this week (12.23-12.27), with an average market price of 244720 yuan/ton at the beginning of the week and 244660 yuan/ton at the end of the week, a decrease of 0.02%.
The overall tin price has slightly decreased this week. Starting this week, tin prices have shown a narrow range of fluctuations both internally and externally. From a macro perspective, during the overseas Christmas holiday this week, the overall foreign market was sluggish. The US dollar index continued to fluctuate at a high level during the week, and the non-ferrous metal sector was generally under pressure.
Fundamentally, the overseas mining sector continues to be tense, providing support for tin prices below. The performance of terminal consumption has not changed significantly and continues to be weak. Most downstream customers maintain their essential purchases, and market transactions are average. The inventory status has slowed down during the week.
Based on comprehensive analysis, due to the support of tin inventory on prices, coupled with the possibility of Myanmar’s tin mine resuming production less than expected, the supply after resuming production may not reach the level before the shutdown. It is expected that the center of gravity of tin prices will remain high and continue to fluctuate within the range next week.
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