The trend of SMM tin has reached a new high and it is difficult to sell goods on the spot. [selection of Shanghai Tin Weekly report]

"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 has been highly volatile in 2202 weeks, with a cumulative weekly price increase of 2.39 per cent and a total increase or decrease of + 9100 positions by the close of trading on Friday. The price trend of Lunxi is weaker than that of China this week, closing at US $39000 / ton on Thursday, with weekly price volatility of + 0.24% as of press time. The Shanghai-Lun ratio fluctuated to around 7.55. As of Friday, Lunxi inventory 2020 tons, LMEcash contract to maintain a rise of about 530 U.S. dollars / ton.

Spot market: supply side, according to SMM tracking the operating rate of Yunnan and Jiangxi provinces, we can see that the overall start-up has remained stable this week. As Kai Meng resumes production next month, it is expected that the operating rate in Yunnan will be able to maintain a relatively high level in the near future. However, according to the preliminary investigation of SMM, the overall output of domestic smelters will decline due to the impact of the Spring Festival, and the domestic refined tin supply is expected to be tight.

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Import and export, domestic import profit window is still open, SMM expects that in the current domestic tin price trend is relatively strong, the net import state will continue to be maintained. Whether the net import volume can be increased as a result of the resumption of production of smelters in Southeast Asia needs to be continuously concerned.

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On the demand side, the overall performance of downstream demand is general, and enterprise on-demand procurement is still the main mode. The higher spot prices this week suppressed the willingness to buy downstream, making it difficult to ship goods in the spot market.

Market forecast, the main contract performance of Shanghai and tin this week is strong, spot prices rose in line with the market in the week, but the rise is less than the trend of futures prices, and spot prices are discounted to contracts in recent months.

At this stage, the fundamentals are still in a situation of weak supply and demand. This week, Shanghai-tin funds as a whole maintained a situation of increasing positions and only left the market on Friday (December 31) due to holiday factors. It is not difficult to see that prices hit a new high and restored the market heat. In the follow-up, whether the price is strong or not, we need to focus on the acceptance of the price on the demand side. only from the current spot rigid demand performance, the trend to maintain a strong shock is still a high 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, 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.