SunSirs: Tin Prices Had Fluctuated This Week, and Market Sentiment Was Cautious (October 21-25)

https://www.chemnet.com   Oct 30,2024 SunSirs

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the 1 # tin ingot market in East China fell this week (10.21-10.25), with an average market price of 256,220 RMB/ton at the beginning of the week and 254,500 RMB/ton at the end of the week, a decrease of 0.67%.

Analysis review

The overall trend of tin prices in recent times has been fluctuating and adjusting. The tight supply of tin ore had gradually spread to the smelting end, affecting the normal production of a small number of smelting enterprises. There were signs of recovery on the demand side, but the extent of recovery was relatively limited, and the overall supply and demand situation was basically stable. Recently, there had been frequent news about Myanmar's low state, which had affected the market sentiment. It still needed to pay attention to the progress of the situation in the future.

The operating rate of downstream soldering enterprises was good, with slight signs of recovery. Recently, tin prices had declined, and downstream demand for goods had warmed up. The overall trading performance in the market was still acceptable. Downstream feedback showed that prices had fluctuated significantly in recent times, and many terminal customers had become increasingly cautious in their wait-and-see attitude. Orders had not shown a significant increase yet, and the overall market sentiment was cautious as it maintained a strong demand for replenishment.

Market outlook

It is expected that tin prices will maintain a volatile trend in the short term.

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