On July 21, the mainstream quotation range of 1 × tin ingot in the domestic spot tin market was 194000-197000 yuan / ton, with an average price of 195500 yuan / ton, up 5500 yuan / ton from the previous trading day.
On the night of the 20th, the metal market closed up across the board. In recent days, the continued weakness of the US dollar index and the macro concerns about European natural gas supply boosted the stock market, and the metal market was boosted and rose across the board. Lun tin rose 2.29%, Shanghai tin rose 2.74%. On the morning of the 21st, Shanghai tin continued to be the main player in the night trend. As of the close of the 21st, the main 2208 contract of Shanghai tin closed up 2.71%.
In terms of supply, smelters stopped production for maintenance in July, and the overall output is expected to decline in July. However, the downstream demand has not changed much recently, and the overall start-up of tin solder enterprises is still low, with fewer orders. The recent trend of tin price is still disturbed by macro factors, and it is expected that tin price will remain wide and volatile under the pattern of weak supply and demand.
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