According to the monitoring of the commodity market analysis system of Shengyishe, 1 # tin ingot in East China fluctuated and fell this week (2.18-2.23). The average market price at the beginning of last week was 214400 yuan/ton, while the average market price at the beginning of this week was 216660 yuan/ton, with a weekly increase of 1.05%.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell 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 been continuously rising for three months due to macroeconomic factors. Since February 2023, prices have fallen by 11.35% in a single 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 seen more ups and downs in recent times.

In terms of supply, the progress of RKAB mines in Indonesia is slow, and imports from Wa State are still in the recovery stage. In the near future, the supply of tin mines will still be mainly from other regions, and the overall supply at the mining end remains tight. In terms of demand, downstream demand has shown good performance recently. In January, welding material companies started production higher, and the overall market mentality has improved. After the holiday, downstream related companies actively resumed work. Currently, production has steadily rebounded, and the festive atmosphere in the market is still strong. Downstream companies have a low demand for restocking. Overall, the upstream and downstream are actively resuming work, and it will still take some time to resume normal production. The tight supply at the mining end has boosted market sentiment. This week, as enterprises gradually resume normal production and the market atmosphere is expected to improve, the market will remain stable in the short term.

Related data:

On February 25th, the base metal index was 1166 points, unchanged from yesterday, a decrease of 27.85% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 81.62% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

On February 25th, the non-ferrous index was at 1091 points, unchanged from yesterday, a decrease of 29.06% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 79.74% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the 8th week of 2024 (2.19-2.23), there were a total of 7 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. Among them, there was 1 commodity with a growth rate of more than 5%, accounting for 4% of the monitored commodities in this sector; The top three commodities with the highest increase were nickel (7.20%), silver (1.78%), and copper (1.44%). There are 14 products with a month on month decline, and 2 products with a decline of more than 5%, accounting for 8% of the monitored products in this sector; The top three products with a decline were neodymium oxide (-5.56%), praseodymium neodymium alloy (-5.50%), and praseodymium neodymium oxide (-4.40%). The average increase and decrease this week is -0.94%.