In October 2019, the market price of tin rose and fell, with a monthly increase of 1.88%

I. price trend

 

In October 2019, the domestic market of 1 × 1 tin ingot rose and fell. The average price of domestic market at the beginning of the month was 135712.50 yuan / ton, and at the end of the month was 138262.50 yuan / ton, up 1.88%.

 

On October 31, the tin commodity index was 70.43, down 0.13 points from yesterday, down 29.75% from the cycle’s highest point of 100.25 (2011-09-05), and up 64.33% from the lowest point of 42.86 on December 9, 2015. (Note: cycle refers to 2011-09-01 to now).

 

II. Market analysis

 

Domestic market: this month, Lunxi and Huxi hit high and fell back. Lunxi rebounded to 17240 from the lowest point of 15850 on September 30. In the late ten days, Lunxi maintained a shock pattern in the first line of 16750, and fell at the end of the month. The overall trend of Shanghai tin is stronger than that of Lunxi. This month, it rebounded to 141790 from 133260, the lowest point, and then entered 138500. In October, there were frequent news of production reduction in domestic and foreign tin industry, which stimulated the strong upward trend of tin price in the first half of the month. However, the downward trend of domestic and foreign economy led to sluggish demand, further upward trend of tin price was blocked, and this month, the tin price rose and fell. As of the end of the month, the spot price of Shanghai tin was 136500-138500 yuan / ton. The manufacturer’s quotation was firm, but the transaction was not ideal. Some traders and downstream suppliers had replenishment, and the market purchase volume was relatively small. As of the end of the month, the premium of Yunxi in Shanghai phase tin 2001 contract is 700-1000 yuan / ton, that of ordinary Yunzi is 200-200 yuan / ton, and that of small brand is 400-800 yuan / ton.

 

ferrous fumarate price

Industry: this week, before and after the Federal Reserve’s interest rate meeting, the US dollar index continued to decline, but a series of domestic and foreign economic data were weak after the interest rate cut as scheduled, which led to concerns about the continued weakness of the future macro-economy. After this week, the US Congress officially launched the impeachment procedure for trump, and the base metal showed a trend of “first, then the second”.

 

Import and export: Indonesia’s refined tin exports fell 41% year on year in September, according to data released by the Ministry of trade on October 11. According to data, Indonesia’s refined tin exports last month were 5225.26 tons, down from 8854.30 tons in the same period last year. On a monthly basis, refined tin exports in September fell 5% from the previous month.

 

According to the data released by the world Bureau of Metal Statistics (WBMs) on October 16, the supply gap of the global tin market from January to August 2019 was 5600 tons. Total reported inventory is 7100 tonnes higher than at the end of 2018, but this includes 6000 tonnes of Indonesia’s unexplained increase in inventory. From January to August 2019, the global refined tin production increased by 6000 tons compared with the same period last year. Asian production increased 5900 tons year on year. China’s apparent demand increased by 8% year on year. From January to August 2019, the global tin demand is 254400 tons, an increase of 1.8% over the same period last year. Japan’s consumption was 18400 tons, down 3.1% from the same period last year. In August 2019, the refined tin output is 32000 tons, and the consumption is 31800 tons.

 

Ferrous Fumarate

According to data released by the Beijing Branch of the international tin Association, China’s refined tin production in the first half of 2019 decreased by about 10% year-on-year to about 75000 tons. According to ITA’s survey of 15 refineries in China, the output of refined tin in June was about 12500 tons, down 9% month on month and year-on-year. China is the number one tin producer. Cui Lin, ITA’s chief representative for China, said the decline in refined tin production was due to the reduced supply of tin concentrate in Myanmar and weak demand in China. So far at the beginning of the year, the price of tin in Shanghai has dropped nearly 8% to about 134000 yuan per ton. Cui said prices below the 140000 yuan mark would affect production because of the high cost of ore supply in Myanmar.

 

III. future prospects

 

Next week’s economic data is still concentrated. In addition to the employment data, there are PMI data from various countries. It’s hard to be optimistic about the expected value, and there’s no room for a sharp rise in the low dollar index recovery. However, the worry about economic fatigue still makes the bullies of various metals afraid. If the market shows a correction, it may increase the willingness of downstream consumers to buy into the market. In November, the market will be closed The atmosphere will be much better than this week.

http://www.sodium-persulfate.com

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