According to the monitoring of the commodity market analysis system of Business Society, the 1 # tin ingot market in East China fluctuated and declined this week (11.17-11.24). The average market price last weekend was 212810 yuan/ton, and this weekend it was 201610 yuan/ton, a weekly decrease of 5.26%.

K-bar chart of commodity prices, using the concept of price trend K-line, reflects the weekly or monthly price fluctuations in the form of a bar chart. Investors can buy and sell 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 been continuously rising for three months due to macroeconomic factors. Since February 2023, prices have fallen by 11.35% in a single 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 tin ingot market has seen more declines and less gains in recent times.

The futures market saw a broad decline in Shanghai tin prices this week, and the sentiment in the spot market was low. However, as market prices fell, downstream entry enthusiasm increased, and some low-priced transactions were made during the week. Smelters have been affected by the recent market downturn, and some enterprises have a strong reluctance to sell, resulting in lower quotations. From the perspective of supply and demand, the overall operating rate of smelters is relatively stable, while with the increase of imported tin ingot sources, the overall supply of domestic tin ingots is relatively sufficient. In terms of demand, downstream performance is still weak, and the overall expectation for solder demand is still weak. Most consumer terminals maintain a wait-and-see attitude, actively reducing inventory and adhering to the principle of replenishing raw materials according to demand. Overall, in the future market, there is sufficient supply of tin ingots and weak downstream demand. Domestic inventory is generally at a high level, and tin prices are under pressure overall. It is expected that the tin ingot market will continue to operate steadily with a weak trend in the future. In the near future, we will focus on the impact of macroeconomic fluctuations on the market.

On November 26th, the non-ferrous index was at 1090 points, unchanged from yesterday, a decrease of 29.13% from the highest point in the cycle of 1538 points (2021-10-18), and an increase of 79.57% from the lowest point of 607 points on November 24th, 2015. (Note: The cycle refers to 2011-12-01 present).

According to the price monitoring of Business Society, in the 47th week of 2023 (11.20-11.24), there were a total of 6 commodities in the non-ferrous sector that showed a month on month increase in commodity prices. The top 3 commodities with the highest increase were dysprosium oxide (4.17%), dysprosium metal (3.06%), and dysprosium ferroalloy (3.04%). There are a total of 13 products that have experienced a month on month decline, with nickel (-4.28%), cobalt (-3.87%), and tin (-3.49%) being the top three products with the largest decline. The average increase and decrease this week is -0.84%.