According to the monitoring of the Commodity Market Analysis System of the Business Society, the market price of 1 # tin ingot in East China this week (8.11-8.18) was 222710 yuan/ton on August 11th, and 213350 yuan/ton on August 18th, a weekly decrease of 4.2%.
The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have risen continuously for three months due to macroeconomic factors. Since February 2023, the price has dropped by 11.35% per month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the tin ingot market has been rising for nine consecutive weeks and declining for four consecutive weeks in late July.
In terms of the futures market, the overall decline in Shanghai and tin was seen this week. From a macro perspective, it is expected that the number of US unemployment insurance applications decreased last week, economic data is expected to improve, and the US dollar index slightly rose. The non-ferrous metal market is under pressure, while Shanghai and tin are down. At present, the supply and demand are still relatively loose. Although some mines in Myanmar have ceased production, they can still engage in the mining and processing of existing mines, and there are still some tin mines that can be imported in the short term. In addition, the recent increase in production of Yinman Mining has limited the impact of mining end disturbances on the recent market. As the number of imported tin ingots increases and LME inventory continues to climb to 6090 tons, the overall supply of tin ingots is loose. In terms of demand, the terminal consumption of electronic products has always been tepid, while other industries such as tinplate and semiconductor have remained weak in recent times, lacking actual demand support, and the tin market is operating weakly. Overall, the supply and demand in the tin market are still weak, and the market sentiment is on the wait-and-see side. It is expected that the future market will remain weak and volatile without any external news.
On August 18th, the base metal index was 1196 points, an increase of 11 points from yesterday, a decrease of 25.99% from the highest point of 1616 points in the cycle (2022-03-09), and an increase of 86.29% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).
According to the price monitoring of Business Society, there were a total of 17 commodities in the non-ferrous sector that rose month on month on the commodity price rise and fall list in the 33rd week of 2023 (8.14-8.18), with antimony (2.61%), nickel (1.28%), and lead (1.21%) ranking among the top three commodities. There are three products that have decreased compared to the previous month, with cobalt (-2.30%), tin (-1.84%), and zinc (-1.22%) ranking among the top three products. This week’s average increase or decrease was 0.42%.
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