On May 30th, the average market price in East China was 251610 yuan/ton, a decrease of 3.32% compared to the previous trading day. The mainstream price range for 1 # tin ingots in the domestic spot tin market is 250000 to 252000 yuan/ton, with an average price of 251000 yuan/ton, a decrease of 8630 yuan/ton from the previous trading day.
Shanghai Tin continued its downward trend in the morning session, with the recent and far month basis spread of the spot market widening. As of the second trading session, the price fluctuated weakly, and the main contract of Shanghai Tin 2507 closed down 2.87% on the 30th.
Recently, rumors in the market about the need to pay relevant fees for resuming production in the Wa region have sparked strong reactions. As a result, there has been a significant fluctuation in spot prices, and smelters have been limited in trading volume due to holding prices and being reluctant to sell. Despite the recent continuous decline in prices, the purchasing willingness of downstream users is gradually increasing, and the number of low-priced acquisitions has also increased. At present, the market activity has significantly increased compared to before, and it is understood that some traders are also more actively seeking shipping opportunities. With the improvement of transaction conditions at the end of the month, the operation of low-priced replenishment has become relatively smooth, and it is expected that inventory levels may decrease as a result.
In terms of follow-up, it is heard that Xiaopai is around 400 yuan/ton for the average price in June, Yunzi Tou is around 700 yuan/ton for the average price in June, and Yunxi is around 1000 yuan/ton for the average price in June.
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