This week, the spot tin market price (12.9-12.16) rose in shock. The average price in the domestic market was 196410 yuan/ton last weekend and 191210 yuan/ton this weekend, down 2.65%.

The K-bar chart of commodity prices reflects the weekly or monthly price changes in the form of a bar chart based on the concept of price trend K-line. Investors can buy, sell and invest according to the changes in the K-bar chart. Red means rising; Green means: down; The height of the K column indicates the range of rise and fall. It can be seen from the figure above that tin prices will rise continuously after November 2022 due to macro factors.

Futures market situation this week

Variety./Closing price./Compared with the same period of last week./Inventory (ton)./Inventory change compared with last week (ton)

Shanghai Tin./191110 yuan/ton./- 6980 yuan/ton./5896./+200

London tin./23600 dollars/ton./- 565 dollars/ton./3005./- 135

In terms of futures market: this week, Lunxi fell in shock, with a weekly drop of more than 3%. Shanghai Tin fell under pressure, with a weekly drop of about 3.8%. In terms of inventory, Lunxi fell 135 tons, while Shanghai Tin rose 200 tons.

The spot market has recovered to a certain extent this week due to the reduction of market price, but the downstream purchasing as a whole still remains just in demand. Fundamentals have not changed much in the near future as a whole, showing no loose supply and weak demand. Recently, the output of the refinery has increased slightly, and the supply is loose. At present, the downstream purchase intention is still on demand, and the actual market demand does not change much with the approaching holiday, but the pre holiday stock situation is average. The business agency expects that the tin price in the future will be mainly weak in the long run, but will still be affected by the macro in the short run, maintaining a wide range of shocks.

On December 18, the non-ferrous index stood at 1195, unchanged from yesterday, 22.30% lower than the cycle’s highest point of 1538 (2021-10-18), and 96.87% higher than the lowest point of 607 on November 24, 2015. (Note: the cycle refers to the period from December 1, 2011 to the present).

According to the price monitoring of the business community, there are 9 kinds of commodities in the nonferrous metal sector that rose month on month in the list of commodity price rises and falls in the 50th week of 2022 (12.12-12.16). The top three commodities that rose were metal neodymium (2.73%), neodymium oxide (2.67%) and dysprosium iron alloy (2.11%). There were 11 kinds of commodities that fell on a month on month basis, with zinc (-2.61%), silver (-1.27%) and copper (-0.72%) as the top three products. This week, the average rise or fall was 0.38%.