According to the monitoring of the Commodity Market Analysis System of the Business Society, the East China region’s 1 # tin ingot market fluctuated and rose this week (11.03-11.10). The average market price last weekend was 207260 yuan/ton, and this weekend it was 210860 yuan/ton, a weekly increase of 1.74%.

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. Since February 2023, the price has dropped by 11.35% per month, and the trend of tin prices has fluctuated narrowly in the past three months. From the weekly K-bar chart, it can be seen that the recent trend of the tin ingot market is generally weak.

In terms of the futures market, Shanghai and Wuxi saw a surge and upward trend this week. In terms of supply and demand, the overall operating rate of the smelting plant is stable at a high level, and the recent changes in operating rate are limited. Import sources have increased compared to the previous period, and the overall supply of tin ingots is relatively loose. In terms of demand, the tin ingot market has been declining for six consecutive weeks, and the intention to purchase downstream on dips has resumed. We are actively entering the market for procurement. Recently, the overall inventory of tin ingots has declined, and market transactions support a slight rebound in tin prices within the next week. However, there has been no significant improvement in terminal demand expectations, and the tin ingot market is still under pressure.

On November 12th, the base metal index stood at 1186 points, unchanged from yesterday, a decrease of 26.61% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 84.74% from the lowest point of 642 points on November 24th, 2015. (Note: The cycle refers to the period from December 1st, 2011 to the present).

According to the price monitoring of the Business Society, there were three commodities in the non-ferrous sector that rose month on month in the 45th week of 2023 (11.6-11.10) commodity price rise and fall list, with tin (1.49%), zinc (0.65%), and magnesium (0.16%) ranking among the top three commodities. There are a total of 16 products that have decreased compared to the previous month, with the top 3 products falling respectively being dysprosium oxide (-2.47%), dysprosium iron alloy (-1.92%), and praseodymium oxide (-1.90%). This week’s average increase or decrease was -0.79%.