SMM tin prices hit a new high and warehouse receipt inventory gradually accumulated [Shanghai Tin Weekly report selection]

"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:

The trend of Shanghai tin was too volatile in 2202 weeks. By the close of trading on Friday, weekly prices rose by 0.67%, and the total increase or decrease in position difference was-4930 hands. The price trend of Lunxi is in line with that of China this week, maintaining the pattern of Synchronize shock strength. On Thursday, the closing price closed at US $39335 / tonne, with weekly price volatility of + 1.49% as of press time. The Shanghai-Lun ratio fluctuated to around 7.51. As of Friday, Lunxi inventory 2070 tons, LMEcash contract to maintain a rise of about 465 U.S. dollars / ton.

"View SMM tin data Kanban

Spot market: supply side, according to SMM research, the comprehensive operating rate of Yunnan and Jiangxi provinces continued to rise slightly month-on-month this week. In addition, the small month-on-month increase in domestic refined tin production in December also confirmed the relatively stable overall start-up of refineries in the near future.

Due to the Spring Festival holiday at the end of January, some domestic smelters have holiday maintenance arrangements, so it is expected that the smelter operating rate will gradually decline this month.

"View SMM tin database

Import and export, the domestic import profit window remains open, but in view of the expected slowdown in demand near the Spring Festival holiday, if the import profit window continues to open after the holiday, import profits will gradually expand, it may attract more imports into the country. Whether overseas smelters will repeatedly affect production due to the epidemic needs continuous attention.

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On the demand side, according to the preliminary investigation of SMM, it is known that the overall production of downstream solder enterprises remains stable, and the stock preparation situation before the year is not outstanding compared with previous years. Some companies started the holiday mode later this month, so demand is expected to weaken gradually for some time to come.

Market forecast: the trend of the main contract in Shanghai and tin is too volatile this week, and hit a new contract high on Friday (January 7).

From the perspective of funds, the flow of long and short funds is more frequent and large this week, and the capital action shows that the willingness of long and short parties to hold positions is relatively low, which is still dominated by partial speculation strategy in the short term. Domestic warehouse receipt inventory continues to increase steadily, as the current spot price is still discounted in the main contract price of the delivery month, the market is expected to be more willing to deliver. Therefore, next week's trend in both weak supply and demand and affected by delivery of the spot tight situation, there is a large downward exploration is more difficult.

"View SMM Metal spot Historical Price

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.