On July 12, the mainstream quotation range of 1# tin ingot in the domestic spot tin market was 199,000-203,000 RMB/ton, with an average price of 201,000 RMB/ton, an increase of 8,000 RMB/ton compared with the previous trading day.
Analysis review
On the night of the 11th, the US dollar rose sharply, the price of crude oil fell significantly, and the performance of the metal market was mixed. Among them, the London tin led the increase by 2%, and the Shanghai tin rose by more than 3%. On the morning of the 12th, the tin futures on the Shanghai Stock Exchange continued to rise, and continued to lead the metal market. As of the close, the Shanghai tin 2208 contract closed up 2.45%. On the 12th, the spot market mostly followed an increase of 8,000-10,000 RMB/ton.
From a fundamental point of view, on the supply side, more smelters will shut down for maintenance in July, and the overall July output is expected to decline. In terms of downstream demand, there has not been much change recently, and the overall start-up of tin and solder enterprises is low.Market outlook
The recent trend of tin price is still more disturbed by macro factors, and it is expected that the price of tin will still maintain a wide fluctuation trend.
