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 (5.26-6.2). On May 26th, the average market price was 199310 yuan/ton, and on June 2nd, the average market price was 209810 yuan/ton, a weekly increase of 5.27%.

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 tin ingot market has been rising for two consecutive weeks.

The futures market fluctuated and rose this week, with a surge of 2.96% on the 29th and another increase of 2.91% on the 30th, laying the foundation for the upward trend of Shanghai Tin this week. The latest statistical data shows that the production of refined tin in May slightly increased compared to April. However, since late May, large-scale smelting enterprises in the southwest region have entered maintenance, and the start of production has significantly decreased. Under the influence of production reduction news, tin prices have led the week’s upward trend. Therefore, the market expects tin production to decline in June. There has been no substantial improvement in demand recently, mainly due to news factors such as the rise of the semiconductor industry and the release of purchasing intentions from some solder companies, which has strengthened market expectations for the future of semiconductors and boosted market sentiment. But from the current market perspective, the actual demand has not been released. Overall, downstream demand is still relatively weak, and it is expected to operate mainly weakly. In the short term, the impact of domestic supply and demand on tin prices remains limited, and in the future, it is still necessary to focus on the impact of domestic and foreign macro factors on the market.

On June 2, 2023, the London Metal Exchange (LME) tin warehouse held 1970 tons, which remained unchanged (in tons)

On June 4th, the base metal index stood at 1166 points, unchanged from yesterday, a decrease of 27.85% from the cycle’s highest point of 1616 points (2022-03-09), and an increase of 81.62% 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 the Business Society, there were a total of 7 commodities in the non-ferrous sector that rose month on month on the list of commodity prices in the 22nd week of 2023 (5.29-6.2), with silver (4.34%), praseodymium oxide (4.04%), and tin (3.50%) ranking among the top 3 commodities. There are a total of 8 products that have decreased compared to the previous month, with the top 3 products falling respectively being magnesium (-3.98%), praseodymium neodymium oxide (-2.49%), and dysprosium oxide (-2.35%). This week’s average increase or decrease was 0.06%.