In July 2020, the domestic tin ingot Market fluctuated and rose. The average price of domestic market was 139387.50 yuan / ton at the beginning of the month and 145475 yuan / ton at the end of the month, up 4.37%.

On July 28, the tin commodity index was 75.42, up 2.24 points compared with yesterday, 24.77% lower than 100.25 points (2011-09-05), and 75.97% higher than the lowest 42.86 points on December 09, 2015. (Note: period refers to 2011-09-01 to now).

In July, the futures market of Lunxi, Wuxi, Shanghai and Wuxi showed an upward trend. Shanghai Wuxi stock exchange rose sharply to 154400 yuan / ton on July 28, and rose 6% at the beginning of the trading, and then fell back to the rational range. Mainly affected by the basic data such as the depreciation of the US dollar, tin, as a small variety of non-ferrous metals, is more likely to receive the impact of on-site funds.

The spot market followed the trend of Shanghai tin this month, and the overall trend was mainly concussion before 28 days. Before and after 28 days, with the sharp rise of Shanghai tin price, the spot market followed the trend, and the price rose sharply. After that, the spot market followed the downward trend. By the end of the month, the mainstream price in the domestic spot market was 144000-147500 yuan / ton. As of the end of the weekend, Shanghai Tin’s 10 contract will face a premium of 500 yuan / ton for Yunxi, 500 yuan / ton for Yunzi and 2000 yuan / ton for small brands.

In the upstream, Myanmar originally planned to resume supply by the end of this month. Compared with the current situation, the lifting of the relevant ban was delayed, the supply recovery was slow, and the upstream supply was tight, which would affect the tin ingot supply in the future.

According to the price monitoring of the business agency, in July 2020, there were 17 kinds of commodities in the non-ferrous plate with a month on month increase in the price list of bulk commodities, including 7 commodities with an increase of more than 5%, accounting for 31.8% of the total number of commodities monitored in the plate; the top three commodities were silver (25.91%), zinc (11.12%) and cobalt (10.81%). There were five kinds of commodities that declined on a month on month basis. The top three products were praseodymium oxide (- 4.03%), magnesium (- 3.72%) and dysprosium oxide (- 2.88%). This month, the average rise and fall was 4.31%. Precious metals performed well this month, and tin prices rose sharply at the end of the month due to the overall improvement of the metal market.

Houshi business agency believes that on the evening of July 27, Inner Mongolia Xingye Mining Co., Ltd. issued an announcement saying that up to now, the company’s wholly-owned subsidiary xiwuzhumuqin banner yinman Mining Co., Ltd. (hereinafter referred to as “yinman mining”) has the conditions to resume production and will resume production in the near future. On the day of the announcement, Xingye mining got back the “work safety license” temporarily withheld by the emergency department of Inner Mongolia Autonomous Region. With the resumption of production of “yinman mining”, the current situation of tight supply of domestic mining end will be alleviated to some extent, and the downstream demand is relatively general at present. The price of tin spot market mostly follows the trend of futures market. It is expected that the future high-level oscillation will be dominant.

Relevant data:

U.S. tin imports and exports both declined month on month in May: Washington, D.C. reported on July 2, the data released by the U.S. Department of Commerce showed that the US tin import in May was 2538436 kg, lower than that in April of 3044874 kg; in the first five months of this year, the total import was 17101787 kg. Tin exports from the United States in May were 135056 kg, lower than 176839 kg in April. In the first five months of this year, exports totaled 778178 kg.

Antaike: China’s refined copper, lead and tin production increased in June: Beijing on July 9, Antaike, a research arm of the China Nonferrous Metals Industry Association, said on Thursday that China’s major copper smelters’ cathode copper production in June increased by 0.6% to 699000 tons year-on-year. The output in June increased by 0.9% compared with the revised 693000 tons in May due to the weak impact of overhaul on supply of 22 smelters surveyed. From January to June, China’s cathode copper production fell 0.8% year-on-year to 4.1 million tons. Antaike said production would be limited by tight supply of copper concentrate and low processing costs, despite a reduction in maintenance materials for the project in July. Antaike predicts that the output of cathode copper will be maintained at about 700000 tons in July. China’s refined lead production rose 13.2 per cent in June from a year earlier to 418000 tons, the agency said. China’s refined lead production in July fell by about 3000 tons compared with the previous month due to major overhaul of refineries in Yunnan, Hunan and Jiangxi provinces, it added. Antaike said refined tin output at China’s 18 smelters increased by 5.9% month on month to 12081 tons in June, but it did not provide comparative data.

WBMs: Global tin market supply shortage of 17500 tons from January to may 2020: London news on July 22, the world Bureau of Metal Statistics (WBMs) released a report on Wednesday that the global tin market was short of 17500 tons from January to may 2020. The total reported inventory is 9200 tons lower than the level at the end of 2019. Demand is calculated novel coronavirus pneumonia. The total impact of the national blockade imposed on the new crown pneumonia epidemic is not yet fully reflected in the trade statistics. From January to may 2020, the world’s reported refined tin production decreased by 7700 tons compared with the same period last year. China’s apparent demand increased by 7% over the same period last year. From January to may 2020, the global demand for tin will be 157600 tons, an increase of 5.2% over the same period last year. Japan’s demand is 9500 tons, down 16.7% from January to may 2019. In May 2020, the global refined tin production is 27200 tons and the consumption is 32100 tons.