According to the monitoring of the commodity market analysis system of Business Society, the 1 # tin ingot market in East China fell first and then rose this week (1.8-1.15). The average market price at the beginning of last week was 205910 yuan/ton, while the average market price at the beginning of this week was 209610 yuan/ton, with a weekly increase of 1.8%.

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 market fell first and then rose during the cycle. Under the influence of declining inventory data, Shanghai tin rose significantly. On the 12th, Shanghai tin closed rapidly in the night trading session, and spot market prices followed suit with a significant increase. As prices rose, the enthusiasm for spot market inquiries significantly declined, downstream purchasing intentions were weak, and market trading significantly turned cold. From the perspective of supply and demand, companies that underwent early maintenance have plans to resume work in the near future, but the overall operating rate remains low this week, and the overall supply of tin ingots remains tight. In terms of demand, downstream enterprises generally have stocking plans as the Spring Festival approaches. Therefore, recent market transactions have significantly improved, which has also led to a significant decline in domestic inventory and heated up the domestic market atmosphere. Overall, the downstream demand is currently good, but with the rise of market prices, the willingness to receive goods from downstream has significantly declined. With the commencement of subsequent equipment construction, the tight supply situation will be improved to some extent. It is expected that the tin ingot market will continue to face significant upward pressure in the short term, with a stable and strong trend as the main trend.

Related data:

On January 14th, the tin commodity index was 105.27, unchanged from yesterday, a decrease of 43.92% from the highest point in the cycle of 187.70 points (2022-03-09), and an increase of 145.61% from the lowest point of 42.86 points on December 9th, 2015. (Note: The cycle refers to 2011-09-01 present).

On January 14th, the base metal index was 1166 points, unchanged from yesterday, a decrease of 27.85% from the highest point in the cycle of 1616 points (2022-03-09), and an increase of 81.62% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On January 14th, the non-ferrous index was at 1096 points, unchanged from yesterday, a decrease of 28.74% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 80.56% 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 second week of 2024 (1.8-1.12), there were a total of 5 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 nickel (3.90%), antimony (3.25%), and lead (2.16%). There are a total of 15 products with a month on month decline, and 4 products with a decline of more than 5%, accounting for 16.7% of the monitored products in this sector; The top three products with a decline were dysprosium iron alloy (-14.09%), dysprosium oxide (-13.71%), and metallic dysprosium (-13.33%). The average increase and decrease this week is -2.45%.