According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China has risen this month (12.1-12.30), with an average market price of 239800 yuan/ton at the beginning of the month and 244910 yuan/ton at the end of the month, a monthly increase of 2.13%.
| Gamma-PGA (gamma polyglutamic acid) |
At the beginning of December, tin prices showed a fluctuating upward trend, and began to decline in mid December, stabilizing and oscillating towards the end of the month. Macroscopically, the uncertainty will increase next year, and there is currently no clear guidance on the trend of tin prices.
At the mining end, Myanmar’s imports of tin ore have not yet recovered this month, and domestic mines have not significantly increased production, resulting in a low supply of tin ore.
On the refining end, although there has been no significant increase in the mining end, it has been affected by the replenishment of recycled tin, resulting in a high operating rate of tin ingots throughout the year and a historically high production of refined tin. With the recent recovery of Indonesian exports and a significant increase in domestic imports, the supply of refined tin has increased significantly.
On the demand side, in the short term, due to the downward consolidation of prices, downstream consumption performance slightly exceeded expectations, and overall demand growth has been maintained. The semiconductor industry is in an upward cycle, which supports demand. The demand for photovoltaics continues to weaken. Pay attention to the impact of changes in foreign tariff policies on tin demand.
Overall, the trend of tin prices will depend on the combined effect of multiple factors. On the one hand, with the recovery of the global economy and the development of emerging fields, the demand for tin is expected to continue to increase. On the other hand, the production capacity of tin will continue to increase, and the uncertainty on the supply side may have an impact on tin prices. It is expected that the tin price will show a weak and fluctuating trend, showing a slight fatigue, and the upward driving force is not obvious.
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