This week, the price of tin market rose and then fell (9.21-9.27)

This week, the spot tin market price (9.21-9.27) rose and then fell back. The domestic market average price was 144112.50 yuan / ton at the beginning of the week and 141475 yuan / ton at the weekend, with a weekly decrease of 1.83%

 

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On September 26, the tin commodity index was 72.07, which was the same as yesterday, decreased by 28.11% from the highest point of 100.25 in the cycle (2011-09-05), and increased by 68.15% from the lowest point of 42.86 on December 09, 2015. (Note: period refers to 2011-09-01 to now).

 

In terms of futures, Shanghai tin prices rose from Monday to Wednesday, while US dollar prices rose sharply on Wednesday, as well as the impact of overseas public health events, the metal market weakened in an all-round way, and Shanghai tin entered a downward channel..

 

Spot market this week basically follow the trend of Shanghai tin, first up and then down, after Wednesday into the downward channel. In terms of supply, Myanmar’s ban extended to the end of October. Statistics show that domestic tin ore imports in August fell by 37% year-on-year, with an import of 8077 tons. In terms of refined tin, the import volume in August was 348 tons, down 87.5% month on month. Downstream demand is still general, strong performance in the off-season, most of the downstream demand procurement, limited trading. As of Friday, the promotion and discount of Shanghai tin 2010 contract was maintained at 500 yuan / ton for ordinary cards and 1000-1500 yuan / ton for small cards.

 

According to the price monitoring of the business agency, in the 38 th week (9.21-9.25) of 2020, there are 4 kinds of commodities in the non-ferrous plate rising month on month, and the top three commodities are antimony (2.93%), silicon metal (1.61%) and cobalt (0.24%). There were 17 kinds of commodities with a decline of more than 5%, accounting for 4.5% of the total number of monitored commodities in the plate; the top three products were silver (- 15.67%), zinc (- 4.51%) and gold (- 4.12%). This week, the average rise and fall was – 1.88%. The metal market rose in the first half of this week, and was affected by the rise of US dollar on Wednesday, and the metal market was mainly downward.

 

In the aftermarket, the business associations believe that most of the downstream industries of tin are in the off-season, and the demand is more general at present. The price of tin spot market mostly follows the trend of futures market. It is expected that the future market will maintain oscillation.

EDTA