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Tin tin weekly review: optimism but previous drag force to be reckoned with

by:Deyuan      2020-12-25
Figure 1: Shanghai period tin day K line trend diagram
this cycle in tin price one more step, mainly by high crude oil and a weaker dollar, Aaron tin shock interval 16800 - this week $17250 / ton, the overall $17000 on the site. Shanghai tin weeks up for four days, Friday intraday fell back slightly, but still keep in 111000 yuan/ton. Because oil prices rebound, and loose monetary environment, the market bullish atmosphere, coupled with tin the fundamentals of good foundation, in the future for a period of time, tin will still be up to down.
the market supply of goods increased backwardation turn smooth water
the domestic spot prices continue to rise this week, in 112000 - quotation 114000 yuan/ton. Because the price of rapid rebound, the supply of goods on the market gradually increased, merchant shipping enthusiasm high, backwardation into smooth water, also led to the downstream procurement enthusiasm, buyers and sellers are game, lead to the tin price fluctuation space narrow.
raw materials nervous rised manufacturer
the domestic tin concentrate market strength is the same, the current tin concentrate bid 82000-40 degrees 84000 yuan/ton, up 3000 yuan from last week. Tin ore concentrate quotation 88000-60 degrees 90000 yuan/ton, up 3000 yuan from last week. Because the spot price continuously rise, and the domestic mining capacity, raw material is relatively nervous, concentrate manufacturer rised, low-cost delivery will low, concentrate price performance is more strong.
waste tin price increases sharply
this week waste tin price adjustment of the finished product is more apparent, the early because prices down adjustment, market cautious, merchants waiting to see more, prices rose again, this time the market confidence rebounded sharply, environmental protection of tin 93 - quotation this week 96 yuan/kg, up from last week 5 yuan. Silver tin block 171 - quotation 176 yuan/kg, 6 yuan rise from last week. Market overall recovery.
above all, next week 16800 - Aaron tin shock interval Tin 108000 - $17500 a narrow, Shanghai 115000 yuan/ton, the domestic spot tin ingots is expected in 110000 - 114000 yuan/ton.
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