According to the monitoring of the Commodity Market Analysis System of the Business Society, the 1 # tin ingot market in East China rose first and then fell this week (5.5-5.12). On May 5th, the average market price was 205310 yuan/ton, and on May 12th, the average market price was 201210 yuan/ton, a weekly decrease of 2%.

The K-bar chart of commodity prices uses the concept of a price trend K-line to reflect weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell investments based on the changes in the K-bar chart. Red indicates an increase; Green indicates a decline; The height of the K-bar represents the range of fluctuations. From the monthly K-bar chart, it can be seen that after November 2022, tin prices have risen continuously for three months due to macroeconomic factors, and have fallen by 11.35% in a single month since February 2023. From the weekly K-bar chart, it can be seen that the tin ingot market has been fluctuating frequently recently, and the overall trend is weak. This week, tin prices have risen due to the news of the planned production halt in Wa State.

On the supply side: Currently, there is little overall change in domestic supply and demand, and the attitude of smelters towards high prices remains. The operating rate is relatively stable, and the supply at the mining end is still tight. In terms of demand, the overall operation is weak and there are few signs of recovery in the short term. Currently, the main application field of tin in China is the electronics industry. In the downstream consumption structure of refined tin metal, soldering tin accounts for about 44% of the market share, while tin plates account for about 16% of the market share. Therefore, the development of the electronics industry, including the new energy industry, has a significant impact on tin. The operating rate of solder enterprises has been basically stable in the near future, and it is expected that there will be no significant changes in the future. In terms of inventory, the tin inventory of the previous period of this week increased to 9673 tons, which is at a historical high, dragging down market sentiment. Overall, downstream demand is still weak, and the impact of domestic supply and demand on tin prices is still limited in the short term. In the future, it is still necessary to focus on the impact of domestic and foreign macro factors on the market.

On May 12, 2023, the London Metal Exchange (LME) reduced its tin inventory by 25 tons from 1610 tons

On May 14th, the base metal index stood at 1172 points, unchanged from yesterday, a decrease of 27.48% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 82.55% from the lowest point of 642 points on November 24, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).

According to the price monitoring of Business Society, there were 8 commodities in the non-ferrous sector that rose month on month in the list of commodity prices in the 19th week of 2023 (5.8-5.12), with dysprosium oxide (3.93%), dysprosium iron alloy (3.47%), and metal praseodymium (2.63%) among the top 3 commodities. There are a total of 12 products with a month on month decrease, and 2 products with a decrease of over 5%, accounting for 8.7% of the monitored products in this sector; The top three products with a decline were nickel (-8.00%), silver (-5.31%), and copper (-3.84%). This week’s average increase or decrease was -0.54%.