Fundamentals are bad, and tin prices continue to fall (6.24-7.1)

The spot tin market price (6.24-7.1) fell after the market shock this week. The average price in the domestic market was 218110 yuan / ton last weekend and 203360 yuan / ton this weekend, down 6.76% this week.



The K-bar chart of commodity prices uses the concept of K-line of price trend to reflect the weekly or monthly price changes in the form of a bar chart. Investors can buy and sell investments according to the changes of the K-bar chart. Red means: rising; Green means: down; The height of K column indicates the range of rise and fall. It can be seen from the above figure that the overall trend of lead price is weak after April.


According to the price monitoring of the trading society, in the 26th week of 2022 (6.27-7.1), there was a total of one commodity with a month on month increase in the non-ferrous sector, and the increase was antimony (1.22%). A total of 20 commodities fell month on month, with a total of 1 commodity falling by more than 5%, accounting for 4.3% of the monitored commodities in this sector; The products with the top three declines were tin (-5.42%), silicon (-4.53%) and cobalt (-4.37%). The average rise and fall this week was -1.49%.


Futures market situation this week


varieties., Closing price, Compared with the same period last week, Inventory (ton)

Shanghai tin, 192000 yuan / ton- 12860 yuan / ton, four thousand four hundred and twenty-four

London tin, 26150 dollars / ton+ 975 dollars / ton, three thousand five hundred and sixty

In the futures market, Shanghai tin fell broadly this week, with a weekly drop of 12860 yuan / ton. The large decline this week was mainly affected by the entry of short funds. At present, the overall inventory of Shanghai tin is still low, and the market is significantly disturbed by funds. After the continuous rise of tin price in the past year, the market speculation was heavy, so the funds were withdrawing from profits. Later, this round led the decline of non-ferrous metals. After a month and a half of decline, the price was basically flat in the same period last year. From a fundamental point of view, the smelter has gradually entered the maintenance period since June. At present, the number of manufacturers offering prices in the market has decreased significantly, boosted by the reduction of supply sources. At present, the manufacturers have a strong attitude of supporting prices, the overall demand performance in the downstream is general, and the overall market performance is weak. Therefore, the trend of tin price is greatly affected by the futures market, and it is expected that the future market will remain wide-ranging and volatile.

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