On the 10th, the mainstream quotation range of tin ingot in domestic spot tin market was 195500-197000 yuan / ton, with an average price of 196250 yuan / ton, down 1000 yuan / ton from the previous trading day.
The U.S. dollar index fell to a two month low on Friday, and the non-ferrous metal market was boosted by most of the gains. At the beginning of this month, yinman mining announced the resumption of production. The supply expectation in the future was strengthened, and the Shanghai tin market was under pressure. Today, it went against the market. As of the close of the 10th, the settlement price of the main contract of Hushi 2107 was 196040 yuan / ton, down 1.22%.
The supply of goods in circulation in the market is still tight, and the lower reaches have a strong wait-and-see mentality. Stock before the festival consumed most of the market demand, the opening trading after the festival was limited, and the overall trading was cold. At present, the price of tin ingot is on the high side, which suppresses the enthusiasm of the downstream market. At present, it only maintains the rigid demand procurement.
In the future, the business association thinks that the domestic refined tin production growth is expected to be large in May, the tin ingot market supply is expected to be loose, and the future tin market is mainly under pressure.