The tin price is strong to refresh the high point, and the capital is hot before the festival [SMM Tin Weekly 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:

Shanghai tin showed a strong trend in 2202 weeks, with a cumulative weekly price increase of + 7.95% and a total increase or decrease of-7110 hands by the close of trading on Friday. Renxi prices have shown the same strong trend as in China this week, closing at $43690 a tonne on Thursday, with weekly price volatility of + 8.10 per cent as of press time. The Shanghai-Lun ratio fluctuated to around 7.63. As of Friday, Lunxi inventory 2200 tons, LMEcash contract to maintain a rise of about 695 U.S. dollars / ton.

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Spot market: on the supply side, according to SMM research, the operating rate of Yunnan Jiangxi smelter rebounded slightly, and it is expected that the start-up will gradually decline as the holiday approaches. As the enterprises with a large proportion of domestic production stop production during the holidays, the expected impact on the decline of domestic production in February is limited.

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On the import and export side, the domestic import profit window remains open, but according to customs data, the domestic refined tin changed to a net export pattern in December. The main reason is that Indonesia's export policy adjustment has led to a short-term hindrance to exports, and the specific recovery time still needs continuous attention.

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On the demand side, many solder enterprises in the Pearl River Delta region have entered a state of holiday, while solder enterprises in the Yangtze River Delta region and other regions will also have a holiday next week, so it is expected that demand will weaken rapidly in the future, and the operating rate of enterprises will continue to decline. The start time of domestic mainstream solder enterprises will be set around the tenth day of the first lunar month, so short-term oversupply will bring a small amount of oversupply.

Market forecast: the trend of Shanghai and tin is strong this week, and the price is as high as 340760 yuan / ton before the contract is refreshed again.

From the perspective of capital performance, the continuous strengthening of prices has attracted a large number of over-the-counter funds to enter the market, while daily funds fluctuate frequently, but on the whole, 2202 contract funds are gradually transferred to 2203 contracts, and the replacement of main contracts is relatively smooth.

As the holiday demand of downstream enterprises weakens gradually next week, the increase in short-term supply will bring pressure on prices, but at this stage, the sustained low level of inventory still has a strong support for prices, so it is expected that the short-term trend will remain high and volatile.

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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.