Spot tin prices remain stable during the week [SMM Tin Weekly report]

"SMM Tin Industry chain Weekly report" released, the weekly report SMM will select the hot topics, prices, market or major changes in the industry chain information released into a document for your reference.

The following is an excerpt from the weekly report of SMM tin industry chain:

This week, Shanghai and tin fell slightly in 2205 weeks and rebounded. By Friday's close, the weekly cumulative price volatility was-0.75%, and the total increase or decrease in position difference was-4400 hands.

The trend of Lunxi has rebounded synchronously this week, closing at $43400 a tonne on Thursday, with weekly volatility of-0.3 per cent as of press time.

The Shanghai-Lun ratio fluctuated to around 7.82. As of Thursday, Lunxi inventory 2665 tons, LMEcash contract water fell back to around 275 U.S. dollars / ton.

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Spot market

On the supply side, according to SMM research, it is known that the weekly operating rate of refining tin in Yunnan and Jiangxi provinces has remained stable, showing a slight increase compared with last week. Some refineries in Guangxi have completed maintenance and started ignition this week, and products are expected to be produced later this month.

The raw material side is still disturbed by the epidemic in Myanmar, and according to market sources, nucleic acid testing in some areas has affected the entry and exit of ports.

Import and export, at this stage, the import profit window remains open, and there are stable quotations for overseas products at the end of April in the domestic spot market. However, due to the disturbance of the epidemic, the efficiency of customs clearance is reduced, so whether imported products can be delivered on schedule remains to be further tracked.

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On the demand side, downstream solder enterprises as a whole maintain a stable production state, the epidemic situation in Guangzhou has not caused too much trouble to the production of local enterprises, but at present, low logistics efficiency and rising freight have become the main factors affecting enterprises. The decline in prices during the week led to the release of the purchasing willingness of downstream enterprises.

Market forecast

The overall volatility of Shanghai and tin has narrowed this week. Prices fell in the middle of the week but did not continue the decline and then rebounded. Throughout the week, the overall volatility remained high.

From the perspective of capital fluctuations, the total amount of funds does not change much weekly, but the continuous reduction of the main contracts indicates that the long and short funds are gradually being transferred to the new contracts. The price dip during the week did not attract enough funds to participate, indicating that the current speculative atmosphere in the market is heavy and the willingness of long and short positions is insufficient. According to this situation, the fundamental supply and demand is temporarily balanced, market capital participation is not high, so the trend in the short term to maintain a high horizontal market probability.

Catalogue of "SMM Tin Industry chain Weekly report" in this issue

Main points of this issue's weekly report

Futures trend

Spot market

Review of tin ingot market

Summary of Raw material Market

Profit and loss on import and export of refined tin

Outlook for the future

[China Tin Industry chain High-end report] China Tin Industry chain monthly report includes macro interpretation, monthly tin price review, hot event interpretation and future forecast of various sections of the tin industry chain (tin ingots, tin mines). And release monthly relevant enterprise operating rate and inventory survey and other data, covering the entire tin industry chain.

[China Tin Industry chain routine report] China Tin Industry chain Weekly report includes macro interpretation, weekly tin price review, market trends such as various sections of the tin industry chain (tin ingots, tin mines), weekly social inventory, and future forecasts. a comprehensive interpretation of the tin market during the week.