Price Trend
On March 1, 2019, the tin ingot Market fluctuated frequently. The average price of the domestic market was 149,262.50 yuan/ton at the beginning of the month and 149,512.50 yuan/ton at the end of the week, up 0.17%.
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II. Market Analysis
Domestic market: This month, the domestic spot tin market prices fluctuated, although the rise and fall is not obvious, but the basic month is volatile. Towards the end of the month, due to the impact of the value-added tax reduction in April, the market declined and some traders had limited trading. By the end of the month, the mainstream domestic market turnover was 149500-150500 yuan/ton. Near the new month, the market is dominated by the following monthly tickets. The monthly ticket supply is gradually difficult to find. Due to the tax point factor, the rising water of the monthly ticket supply is relatively strong, and the mainstream is maintained at about 1500-2500 yuan/ton, while the higher one rises to around 3000 yuan/ton.
International market: This week, the US dollar continued to rise, returned to 97 points above, basic metals first suppressed and then recovered. Under the guidance of the tax reduction of VAT, domestic short positions were liquidated and left the market. Spot performance of various items was stronger than futures. The weekend price rebound recovered some of the decline in the week.
Import and Export: Washington, March 6, 2008. According to data released by the U.S. Department of Commerce, the import volume of tin in December 2018 was 3,295,122 kg, slightly lower than that in November, 3,355,254 kg, and the total import volume in January-December was 36,734,016 kg. The export volume of tin in the United States in December 2018 was 115,617 kg, and in November it was 129,672 kg. The total export volume in the whole year of 2018 was 2,070,371 kg.
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Jakarta, March 8, 2008. According to data released by Indonesia’s Ministry of Trade, the export volume of refined tin in Indonesia fell 22% in February from a year earlier to 5,562.46 tons. Indonesia is the world’s largest exporter of refined tin. Exports in February increased by 35% compared with 4,115.41 tons in January.
3. Prospects for the Future Market
In the data set of European and American economy in early next month, the US dollar is still rebounding strongly. On April 1, VAT in domestic market dropped to 13% and was officially implemented. In addition, with the coming Qingming Mini-long vacation, consumer expectations once again become the focus of the market. Market sentiment has been boosted. It is expected that a rebound will continue and a steady trend will be ushered in for tin.
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