According to the monitoring of the commodity market analysis system of Shengyishe, 1 # tin ingot in East China fluctuated and fell this week (1.29-2.5), with an average market price of 221460 yuan/ton at the beginning of last week and 211360 yuan/ton at the beginning of this week, a weekly decrease of 4.56%.
K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have been continuously rising for three months due to macroeconomic factors. Since February 2023, prices have fallen by 11.35% in a single month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the tin ingot market has seen more ups and downs in recent times.
In terms of the futures market, the futures market continued to decline during the week, and social inventory continued to accumulate, dragging down the trend of the futures market. On Monday, the Shanghai tin futures market continued to decline in early trading, and the spot market continued to follow suit. Fundamentally speaking, refineries still maintain a price push mentality on the supply side, but unfortunately, the poor performance of market demand has led to consecutive price declines, affecting the mentality of enterprises. In terms of demand, as the holiday approaches, the downstream has basically entered the holiday mode. Recently, there have been many difficulties in transportation, and downstream procurement intentions are low, resulting in overall weak demand. Overall, the holiday atmosphere in the market is relatively strong, and the lack of demand support has led to a downward pressure on the market under the influence of high inventory.
Related data:
On February 4th, the base metal index was 1160 points, unchanged from yesterday, a decrease of 28.22% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 80.69% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).
On February 4th, the non-ferrous index was 1092 points, unchanged from yesterday, a decrease of 29.00% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 79.90% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).
According to the price monitoring of Business Society, in the 5th week of 2024 (1.29-2.2), there were a total of 4 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. The top 3 commodities with the highest increase were sponge titanium (0.97%), antimony (0.83%), and gold (0.79%). There are a total of 7 products with a month on month decline, and the top 3 products with the largest decline are zinc (-3.03%), tin (-2.96%), and nickel (-1.76%). The average increase and decrease this week is -0.3%.
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