This week, the spot tin market price (5.17-5.21) rose and then fell. The average price of domestic market was 198100 yuan / ton at the beginning of the week and 195350 yuan / ton at the end of the week, with a weekly decline of 1.39%.
On May 23, the tin commodity index was 99.51, unchanged from yesterday, down 2.17% from 101.72 (2021-05-18), the highest point in the cycle, and up 132.17% from 42.86, the lowest point on December 09, 2015（ Note: period refers to the period from September 1, 2011 to now).
In terms of futures, tight overseas supply this week strongly supported LME Lunxi’s price. Lunxi’s inventory continued to be low, and the market supply was tight, which supported the external metal price. Driven by the external market, Shanghai Tin’s price fluctuated at a high level this week..
In the spot market, the number of miners in Myanmar is higher, the mining speed is slower, and the import volume is lower. This week, due to the increase of export sources, domestic tin ingot inventory is low, supporting domestic prices. In terms of smelters, some manufacturers will stop production this weekend, which will continue to affect domestic production. In the case of tight supply in the future, tin ingot prices will be supported again.
According to the price monitoring of the business community, in the 20th week of 2021 (5.17-5.21), there were five kinds of commodities in the non-ferrous sector that rose month on month, and the top three commodities were lead (3.20%), silicon metal (1.82%) and titanium concentrate (1.03%). There were 16 kinds of commodities that declined on a month on month basis, and 3 kinds of commodities with a decline of more than 5%, accounting for 13.6% of the monitored commodities in the sector; The top three products were magnesium (- 6.85%), aluminum (- 6.33%) and praseodymium neodymium alloy (- 6.30%). The average rise and fall this week was – 1.95%. Most commodities fell this week.
In the future, the business news agency believes that although the data shows that tin concentrate imports have improved to a certain extent in March, the closing of Ruili port at the end of March is bound to affect the import situation in the near future, and the tight supply at the ore end will continue. The current supply and demand of tin market is weak, and it is expected that it will continue to fluctuate in the future.
In the future, the business community believes that the low foreign inventory situation is difficult to be alleviated in a short time, the domestic tin ingot export volume is increasing, and the domestic production is limited in the near future. It is expected that the basic support of tin ingot Market in the future will be strong, and the behavior will be dominant in the shock. However, the five departments have recently interviewed domestic non-ferrous and steel and iron enterprises to maintain the price order of the bulk commodity market, so the upward space will not be too large.
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