Tin prices fluctuate during the week, supply and demand remain strong, supply and demand remain weak [selected SMM Tin Weekly]

Telah Terbit: Feb 19, 2022 11:44
Sumber: SMM
[SMM Tin Weekly selection] Shanghai Tin 2203 shock strength this week, as of Friday's close, weekly cumulative price increase of + 1.46%, total position difference increase or decrease of-2655 hands. The price trend of Lunxi Synchronize was strong this week, closing at US $43950 / ton on Thursday, with weekly price volatility of + 0.68% as of press time. The Shanghai-Lun ratio fluctuated to around 7.57. As of Friday, Lunxi inventory 2370 tons, LMEcash contract to maintain a rise of about 141USD / t.

"SMM Tin Industry chain Weekly report" is released. SMM will select hot topics, prices, quotations or major changes in the industry chain and release information for your reference.

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

Shanghai tin: Shanghai tin 2203 shock strength this week, by Friday's close, weekly cumulative price increase of + 1.46%, total position difference increase or decrease of-2655 hands.

Lunxi: the price trend of Synchronize is volatile this week, closing at US $43950 / ton on Thursday, with weekly price volatility of + 0.68% as of press time.

The Shanghai-Lun ratio fluctuated to around 7.57. As of Friday, Lunxi inventory 2370 tons, LMEcash contract to maintain a rise of about 141USD / t.

"View SMM tin data Kanban

Spot market

On the supply side, according to SMM research, it is understood that the operating rate of Yunnan Jiangxi smelter has stopped falling and rebounded this week, and the holiday state at the end of resuming production is the main driving force driving the operating rate higher. Imports of Myanmar tin concentrate remain stable and the market is expected to maintain imports of 3000 metal tons in February. The overall production performance of the domestic smelter is stable, and the output of the factory gradually returns to the normal level at the end of the holiday. Individual refineries are currently shut down for overhaul and are expected to be affected until mid-March.

Imports and exports, refined tin products imported from Indonesia have appeared one after another in the domestic market, and the recently quoted products are expected to enter China in mid-March. As the domestic import window remains open, imports are expected to increase gradually.

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On the demand side, the operating rate of downstream solder enterprises has been maintained at a low level recently, mainly due to the shortage of orders caused by the delay of terminal enterprises after the Spring Festival holiday. According to the feedback of SMM research, it is generally believed that demand is expected to improve in March, and the difficult situation in the spot market may improve in the near future.

"View SMM Metal spot Historical Price

Market forecast: the main contract in Shanghai and tin rebounded quickly after falling sharply in intraday trading this week, and then the price shock rose to close at the high of the week on Friday. With the end of 2202 contract delivery, the main contract gradually began to replace the rhythm, the price higher to attract some funds to enter the market. However, due to the existence of market fear of heights, stronger prices attract limited funds to enter the market.

At present, the pattern of weak supply and demand in the fundamentals is still maintained, and the pace of going to the warehouse with the recovery of demand in the market in the near future may support the price of tin. Therefore, the recent trend to maintain a high horizontal, concussion strong probability is larger.

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, interpretation of hot events such as various sections of the tin industry chain (tin ingots, tin mines), and future forecasts, and Synchronize releases monthly relevant enterprise operating rate and inventory survey 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.

Pernyataan Sumber Data: Kecuali informasi yang tersedia untuk publik, semua data lainnya diproses oleh SMM berdasarkan informasi publik, komunikasi pasar, dan mengandalkan model database internal SMM. Hanya untuk referensi dan tidak menjadi rekomendasi pengambilan keputusan.

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