This week (6.10-6.14) the domestic 1_tin ingot Market fell. The average price of the domestic market was 14387.50 yuan/ton at the beginning of the week and 144450 yuan/ton at the end of the week, up 0.74%.
On June 14, the tin commodity index was 73.58, down 0.19 points from yesterday, down 26.60% from the cyclical peak of 100.25 points (2011-09-05), and up 71.68% from the lowest point of 42.86 on December 09, 2015. (Note: Period refers to 2011-09-01 to date).
II. Market Trend Analysis
Domestic market: This week, the spot tin market followed the trend of Shanghai and Tin. Prices rebounded in an all-round way. As of Friday, the mainstream price was about 143,500-145,000 yuan/ton, up 1,000 yuan/ton from last week. This week, the spot market is abundant in supply, mostly with ordinary cloud and small brands. Traders in the market are active in delivering goods at high prices, but terminal demand is weak, downstream orders remain at a low level, demand has not improved significantly, market wait-and-see mood is strong, and overall turnover is cold. This week, the spot discount interval remained stable. Puyun and small brand discount ranged from 500 to 1400 yuan/ton, and Yunxi discount ranged from 100 yuan/ton to 100 yuan/ton.
Non-ferrous industry: On Friday, non-agricultural data exceeded expectations, superimposed inflation was moderate, Fed interest rate cut was expected to rise, US dollar was low at 96.451, and domestic top-level announced infrastructure financing incentive program. Although external uncertainty increased, confidence in expanding domestic demand remained unchanged, market sentiment was boosted, and basic metals generally recovered, but Sino-US economic and trade relations remained tense. The G20 summit held at the end of June as a result. At the critical time, the market waited cautiously, and most of the domestic metals rebounded, blocked and washed back.
3. Prospects for the Future Market
Next week, the most sensitive market is the decision of the Federal Reserve Conference on Interest Rate. The market awaits the guidance of the US dollar. When domestic metals enter the June long order delivery period after monthly exchange, the activity of spot futures may be significantly improved. However, the metal items with the risk of squeezing may temporarily subside and return to rationality.