Today, tin shares rose sharply in intraday trading, closing at 18.22 yuan, up 7.75%. Since July, tin shares have continued to rise, rising to 18.54 yuan today, the highest since February this year.
It is reported that tin shares issued a semi-annual results announcement for 2021 on the evening of July 8. in the first half of this year, the company is expected to achieve a net profit of 930 million yuan to 980 million yuan, an increase of 360.31% 385.05% over the same period last year.
The company said that the reason for the substantial increase in performance in the first half of the year was that during the reporting period, the company actively organized production, tapped potential and increased efficiency, and the output and sales of major products increased significantly compared with the same period last year; second, the market prices of tin, copper and zinc metals, the company's main products, rose significantly compared with the same period last year.
Since the beginning of this year, tin prices have continued to rise, reaching 219300 yuan / ton today, an increase of 1.38%. At one point in intraday trading, tin prices rose to 219490 yuan / ton, approaching the previous all-time high of 219550 yuan / ton.
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On the spot side, as of today, SMM tin is quoted at 220000 yuan / ton. Futures prices are close to the previous high and the 220000 integer mark, testing whether the follow-up can maintain the breakthrough strength of increasing positions. With higher prices, smelters are willing to ship goods positively, but the downstream market is sluggish in the face of rising prices and orders.
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At present, tin prices maintain a high volatility trend, the range continues to narrow, transaction activity performance is lacklustre. From the market performance, the trend is not good, the price of high and narrow shock funds continue to reduce positions and leave the market, indicating that the market has not yet formed a clear view on the late trend.
At the price level, the price is temporarily treated as a high shock consolidation trend before the price fails to effectively break through the key price level. The upper pressure needs to pay attention to the previous highs 219550 and 220000 integer gates.
[SMM News] Indonesia's refined tin exports increased by 5% month-on-month in June compared with the same period last year.
Xi City focus and Future Prospect
In the context of the global epidemic, tin prices have reached another ten-year peak under the theme of supply shortage. LME tin inventory is low and difficult to return, spot water rose to an all-time high, overseas markets where supply exceeds demand, can high tin prices stimulate a rebound in supply? With the increase in global vaccination rates in 2021, can overseas tin demand really recover? As the main source of imported tin ore in China, the proportion of tin ore imported from Myanmar will decline in 2021, and more tin ore from South America, Africa and other regions will enter China. What is the expected future supply of imported tin ore?
Since the second quarter, the reduction and suspension of production by domestic tin smelters has intensified, coupled with asymmetric tin prices at home and abroad, China has become a net exporter, the spot market supply is gradually tight, rising water has been rising all the way, and the shortage market has spread from abroad to China. In the future, can tin prices please climb another high-rise building? The higher-than-expected domestic consumption in the second half of 2020 provides a strong driver for tin prices. Can downstream consumption continue to be hot in 2021? What kind of changes will be brought to the tin industry in the first year of the 14th five-year Plan? SMM will hold the 2021 Tin Industry chain Trading Summit from September 13 to 14:
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