This week, the spot tin market price (2.10-217) fell first and then rose, and the overall decline. The average price of the domestic market was 217610 yuan/ton at the end of last week and 214360 yuan/ton at the end of this week, down 1.49%.

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

In the futures market, Lunxi fell about 3% this week, while Shanghai Tin fell 2.4%. In the macro aspect of the week, the US CPI data in January fell less than expected, while the PPI data growth exceeded expectations, and the overall performance of economic data was poor. The upward metal market of the US dollar index was generally under pressure. Influenced by the expectation of the Federal Reserve for a continuous holiday, the Shanghai and Wuxi stock markets fluctuated and fell during the week.

In terms of the spot market, the market trend this week was basically consistent with that of the Shanghai Tin Exchange, with the overall shock and downward trend, and the price picked up slightly on Friday. As the price continued to fall this week, the intra-field trading was more active, and there was a certain amount of purchase in the market during bargain hunting, and the intra-field trading was more active. On the supply side, the overall operating rate is relatively stable, and the import source continues to arrive in Hong Kong, and the overall supply of tin is loose. In terms of demand, the market expects that it will take time for the downstream market to fully recover. It will take about the end of February for small and medium-sized enterprises to reach the pre-holiday level. The market still has the expectation of demand recovery. At present, the terminal demand has not yet fully recovered, the domestic tin ingot inventory is still at a high level, and the downstream bargain-hunting and replenishment are mainly based on the purchase in demand. In general, the demand for loose supply is weak. In the future, it is expected that the tin market will remain stable and weak. It is necessary to focus on the recovery of downstream demand and the macro-level impact.

February 17, 2022 London Metal Exchange (LME) tin inventory 3105 tons (unit: tons)

The non-ferrous index stood at 1175 points on February 19, unchanged from yesterday, down 23.60% from the highest point of 1538 points in the cycle (2021-10-18), and up 93.57% from the lowest point of 607 points on November 24, 2015. (Note: the period refers to 2011-12-01 to now).

According to the price monitoring of the Business News Agency, there were three commodities in the non-ferrous sector in the list of commodity prices rising and falling in the 7th week of 2023 (2.13-2.17). The top three commodities were titanium concentrate (2.09%), copper (1.46%) and antimony (0.58%). A total of 19 commodities fell on a month-on-month basis, with dysprosium oxide (- 4.44%), dysprosium ferroalloy (- 4.25%) and praseodymium neodymium alloy (- 4.00%) among the top three products. This week’s average rise and fall was -1.44%.