This week, the spot tin market price (4.19-4.23) rose and then fell. The average price of domestic market was 185016.67 yuan / ton at the beginning of the week and 183933.33 yuan / ton at the end of the week, with a weekly decline of 0.59%.
The tin commodity index on April 24 was 93.69, unchanged from yesterday, down 6.64% from the highest point of 100.35 (2021-02-25) in the cycle, and up 118.60% from the lowest point of 42.86 on December 9, 2015（ Note: period refers to the period from September 1, 2011 to now).
In terms of futures, LME tin stocks fell, and the overall supply situation remained tight. Mainly affected by the fall of the US dollar index, the collective rise of non-ferrous metals led to the main behavior in Lunxi early this week. Near the weekend, affected by the new news of India’s public health incident, the collective decline of non-ferrous metals also dragged down the tin market.
The import of tin ore in Ruili area has not recovered yet, and the supply of tin ore is still tight as a whole. Most manufacturers have a strong price support mentality, and are reluctant to sell. The shipment situation is limited, and the transaction is cold. Most of them are long-term single users. The shipping intention of traders is low, and there are more major brands in the market. According to the statistics of China Customs, in March 2021, the import volume of China’s tin concentrate was 21115 tons, equivalent to 4116 tons of metal, with a month on month increase of 106.3% and a year-on-year increase of 36.2%. Among them, Myanmar mine is 18163 tons, equivalent to 2395 tons of metal, with a month on month increase of 163.3% and a year-on-year decrease of 7.8%. In the first quarter, China imported 41650 tons of tin concentrate, up 7.0% year on year.
According to the price monitoring of the business community, in the list of commodity prices in the 16th week of 2021 (4.19-4.23), there were 9 kinds of commodities in the nonferrous metal sector that rose on a month on month basis, including 1 kind of commodity that rose by more than 5%, accounting for 4.5% of the number of commodities monitored in the sector; The top three commodities were magnesium (5.74%), silver (2.06%) and lead (1.89%). There were 12 kinds of commodities that declined month on month, and 2 kinds of commodities with a decline of more than 5%, accounting for 9.1% of the number of commodities monitored in the sector; The top three products were metal neodymium (- 5.94%), antimony (- 5.54%) and neodymium oxide (- 3.46%). This week’s average rise or fall was – 0.81%. Overall, the decline was more than the rise.
In the future, the business news agency believes that although the data shows that tin concentrate imports have improved to a certain extent in March, the closing of Ruili port at the end of March is bound to affect the import situation in the near future, and the tight supply at the ore end will continue. The current supply and demand of tin market is weak, and it is expected that it will continue to fluctuate in the future.
| PVA |