[Why does Shanghai tin continue to rise under weak fundamentals?] Sinc

Published: Mar 19, 2024 11:19

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[Why does Shanghai tin continue to rise under weak fundamentals?] Since last Thursday, Shanghai tin has continued to rise, with the main 2404 contract breaking through 23,000 yuan/ton in intraday trading today, refreshing a 7-month high. What are the main driving factors for the recent strength of Shanghai tin? Can it maintain its strength in the future? A comparison reveals that the recent overseas tin fundamentals are significantly better than domestic ones. Limited supply and warming demand have supported the continuous depletion of overseas tin ingot stocks, combined with the recent upward breakthrough in copper prices. The overall sentiment in the non-ferrous market is optimistic, driving London tin to continue rising.

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