This week, spot tin market price (7.27-31) mainly fluctuated. The domestic market average price was 143662.50 yuan / ton at the beginning of the week and 145475 yuan / ton at the weekend, with a weekly increase of 1.26%.
On July 30, the tin commodity index was 74.73, down 0.68 points compared with yesterday, 25.46% lower than 100.25 points (2011-09-05), and 74.36% higher than the lowest 42.86 points on December 09, 2015. (Note: period refers to 2011-09-01 to now).
The depreciation of the US dollar pushed up the metal prices, LME London Metals rebounded, Lunxi opened high and closed up 2.44%, which reached a one-year high. Shanghai tin rose sharply on Tuesday 28th, reaching 154400 yuan / ton, and the spot market price increased by 5000 yuan / ton. After that, the market fell, and the tin price went down all the way to this Friday’s spot market. The mainstream price was 144000-147500 yuan / T. As of the end of the weekend, Shanghai Tin’s 10 contract will face a premium of 500 yuan / ton for Yunxi, 500 yuan / ton for Yunzi and 2000 yuan / ton for small brands.
In the upstream, Myanmar originally planned to resume supply by the end of this month. Compared with the current situation, the lifting of the relevant ban was delayed, the supply recovery was slow, and the upstream supply was tight, which would affect the tin ingot supply in the future.
Houshi business agency believes that on the evening of July 27, Inner Mongolia Xingye Mining Co., Ltd. issued an announcement saying that up to now, the company’s wholly-owned subsidiary xiwuzhumuqin banner yinman Mining Co., Ltd. (hereinafter referred to as “yinman mining”) has the conditions to resume production and will resume production in the near future. On the day of the announcement, Xingye mining got back the “work safety license” temporarily withheld by the emergency department of Inner Mongolia Autonomous Region. With the resumption of production of “yinman mining”, the current situation of tight supply of domestic mining end will be alleviated to some extent, and the downstream demand is relatively general at present. The price of tin spot market mostly follows the trend of futures market. It is expected that the future high-level oscillation will be dominant.